There have been a lot of controversies surrounding the magnetic sponsoring business. This article discusses issues pertaining to the same.
There has been an exponential growth in the number of Internet users across the globe, which has provided a lot of opportunities for businesses and individuals to make money online. With Internet revolutionizing the business of marketing, the threat of scams has also increased considerably. Magnetic sponsoring is one such program, which is currently under the media’s radar. Is it a scam? Let’s find out.
What is Magnetic Sponsoring?
Magnetic sponsoring is a book written by Mike Dillard, an Internet marketer and an author. In his much debated book, he discusses strategies for multi-level marketing (MLM) that could help generate multiple sources of income for any individual. The author has many years of experience in the networking and marketing business, and claims that his formula is simple and efficient for making money online. However, this program has been criticized by several people. Now, let us review the program by discussing its pros and cons, to find out if it’s worth your time and money.
This program is similar to several other home-based business opportunities. To enroll in this program, you have to purchase the $39 book on magnetic sponsoring. Then you can register on the website related to the program, which will have videos to help you learn the basics of the networking and marketing business. They will also teach you the techniques used by Mike Dillard himself to build his empire.
After one is registered on the website, he/she has to make members in a business pyramid scheme, by convincing people to buy the magnetic sponsoring book. Every member you make, gets you a share from the amount generated by the book as commission. Another positive aspect of this program is that it provides a platform for excelling in Internet marketing with the same network distributors who worked with Mike.
This program has had its share of criticism; various reviews on the Internet complain that the program has not been able to deliver what it had promised. Others have complained that the system, although appears simple, is very complex. The rules and regulations of this program are also said to be mired in controversies.
On a concluding note, this business model seems functional, and could work if the necessary time, energy, and skill is invested into it. Further, the skill to generate MLM leads is very essential for a person who wishes to enter this business. He/she must give time and become familiar with the basics of MLM, as Internet businesses are never as easy as they seem.