Money (and Political) Tip of the Day: Evaluating a Multi-Level Marketing Business Opportunity
From Chuck Jaffe of Marketwatch.com (link requires registration):
For anyone considering a “life-changing” financial venture, look for concrete answers, not open questions, uncertainty and raw unsubstantiated promises.
Says (Jim) Kohm (of the Federal Trade Commission): “There’s no substitute for old-fashioned due diligence. … Before you get involved in any multilevel marketing plan, you should be aware that this is an area where there have been a lot of scams in the past. … If you can’t get enough information to be sure you are not being scammed, you might want to assume you are, and just keep looking for something better.”
This Money Tip, in addition to being relevant to anyone considering a “business opportunity,” may also become relevant to local politics in the coming months.
So, To Whom It May Concern: Consider this a double-edged “Proceed with caution….”
Here’s the one question that will cut through all the B.S. in an offer of a can’t miss business opportunity, or even an unsoliciited stock tip:
“If this thing is so good, why are you telling me about it? Why don’t you keep all that information to yourself and act on it to your sole benefit?”
The follow-up can then be:
“OK, if it’s such a good deal, Could you lend me $X and when I make a profit, I give you back your $X plus interest…oh by the way, if it doesn’t pan out…you’re out your original $X.”
I predict the silence to the rejoinder offer will be deafening.
Comment by Porkopolis — November 28, 2005 @ 1:22 pm
Biz, why don’t you just lay the cards on the table instead of trying to play the spoiler? We all know who it is you are referring to when you say “Whom It May Concern.”
If you’ve got some dirt, spill it now and save people the trouble who might otherwise tie up valuable time, resources, or reputation points getting involved in a campaign they’ll later wish they hadn’t.
A true journalist type of blog would report the facts if the facts are complete and the evidence is there.
A partisan hack sits on the evidence and brings it into play when it hurts/helps the most.
Which are you?
Comment by Campaign Volunteer — November 30, 2005 @ 8:05 pm
Geez, nobody likes suspsense any more.
If I had something reportable, I’d report it regardless of the timing (assuming I still care about politics when the item becomes reportable).
But, I have something developing that is currently pretty close to reportable but not quite there. It may eventually be reportable if certain things fall into place, which is why I wrote “Proceed with Caution.”
And it may involve more than one candidate for national office.
You’re not having fun yet?
Comment by TBlumer — November 30, 2005 @ 8:14 pm