Think your MLM income disclosure statement is a model of clarity? Think again. Think your disclosure supports claims that participants can earn lots of extra money if they join? Think again (again). Those are just two of the major takeaways from a new FTC staff report that analyzed income disclosure statements from dozens of MLMs.The FTC staff report documents an analysis of 70 publicly available income disclosure statements from a wide range of MLMs — big and well-known to smaller companies. The report found that these income disclosure statements showed most participants made $1,000 or less per year — that’s…
Author: Bernard MacBenli
Consider two scenarios. In the first, someone recommends a spatula on social media and shares a link to an online store. Each purchase made through the link earns the poster a commission. In the second, someone encourages you to pay for the right to sell a company’s spatulas, promising sky-high profit if you invest in the company’s sales network and recruit others to join. What’s the difference between these two scenarios? Is one of them a scam? The first is an example of affiliate marketing—a popular, legitimate, and effective tactic—while the second may be an illegal pyramid scheme. Here’s more…
After rising from humble beginnings, Vijay Naidu has garnered success in the fintech and Web 3 industry. Born into a disadvantaged family in Maharashtra, India, Vijay knew the importance of hard work early on. His parents taught him that by making safe decisions, he could survive comfortably. Vijay did not want to settle for this mentality and knew it would take risks to change his life drastically. He realized that success requires more than hard work– it demands an entirely non-traditional approach. Vijay had always preferred sports to academics. At 18, he was on a path to becoming a professional…
India, a rapidly growing economy, is witnessing many transitions. One of them is more visible in its impact — the big targets that India has set for a greener energy system. Another transition, namely rapid urbanisation, presents many opportunities for building sustainable cities. Less visible, though, are the opportunities that lie in improving the life chances and livelihoods of the hundreds of millions of people still living in rural areas. PREMIUM Solar-powered hydroponic systems that can grow fodder with minimal water is another $1.8 billion market opportunity(HT File) Before the Covid-19 pandemic, 25-30 people were reportedly migrating to India’s cities…
Social media monitoring tools are the best way to find out what people are saying about your brand. Not only that, but they can help you track mentions of your product, your competitors, your industry, your Super Bowl ad, your customer service wait times, your new mascot… you name it. If your audience has an opinion on something, your social media monitoring tool should be able to pick it up. That’s because social media monitoring software gathers and presents audience and competitive insights for brands that want to pay attention to their mentions. In this post, we’ll review some of…
“National prosperity is created, not inherited,” writes Michael E. Porter. “The Competitive Advantage of Nations” reports on Porter’s four-year, 10-nation study of the patterns of competitive success in leading trading countries. Porter concludes that companies achieve competitive advantage through acts of innovation. And their capacity and push to innovate is affected by four broad attributes of a nation, attributes that constitute the “diamond” of national advantage: 1. Factor conditions2. Demand conditions3. Related and supporting industries4. Firm strategy, structure, and rivalry These four attributes create the national environment in which companies are born and learn how to compete. Each point on…
The Chinese film “American Dreams in China,” released in 2013, was an instant box-office hit in China, capturing the country’s optimism about Western-style entrepreneurship. It tells the story of a young man who lands a seat at a prestigious university in Beijing and launches a wildly successful tutoring company called New Dream. The events are loosely based on the real-life journey of Michael Yu, the founder of China’s largest tutoring company, New Oriental. The character who resembles Yu studies Dale Carnegie mantras, tutors students over K.F.C., and woos a gorgeous classmate while preparing for an American-visa interview. By the story’s…
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Published on October 18, 2023 Success is never a smooth journey, and Martin Thibeault’s story is proof of that. Despite facing numerous challenges, he never gave up and proved that remarkable achievements are possible. Thibeault’s path to independence was filled with ups and downs, allowing him to gain insights that he hoped others could benefit from. For the majority of his life, Thibeault worked as a carpenter. However, like many individuals, he eventually grew weary of the demands and decided to explore new career opportunities. In 2010, Thibeault took a leap of faith and ventured into entrepreneurship. He established two…
In today’s economy, lots of people are looking for a side hustle to make ends meet. A multi-level marketing (MLM) opportunity might sound appealing, offering money for not a lot of work.Glossy brochures recount success stories of people who have not only supplemented their income but built wealth. However, the Federal Trade Commission (FTC) staff has issued a report that focuses on those income claims made by 70 MLM companies.In the report, the FTC staff found many issues with the income statements they reviewed, saying that most statements omit key information when calculating the earnings amounts they present. Specifically, the report…