Wrong decisions, poor assessment of reality, a change in the economic situation, or simple incompetence can turn a thriving company into a bankrupt or reduce its turnover. In today’s article we will introduce you brands that were once MLM giants, but the effects of their careers turned out to be miserable. Some are gone, others are smaller than in the past, while others are operating on the strength of the Multi-Level Marketing industry. Which giants have not withstood market competition? The purpose of the article is not to stigmatizing anyone. Let us remember that everyone can fail. This is the eternal fate of entrepreneurs. It is worth drawing conclusions and building better MLM companies.
MONAVIE
It was a great company. None of them in Poland have developed at this rate. For 5 years she was considered one of the most recognizable MLM companies in Poland. Few in the industry have heard of Monava. She had a simple product – berry juice in a beautiful bottle resembling wine. In addition, simple binary marketing, which attracted thousands of partners. The question is, what went wrong? It is likely that the company has recalculating with a compensation plan. She paid more than she took. In the last phase, she made a big sale selling Gold packages for $8,600 and stocked her distributors. It then sold to Januesse
DRB COMPENSATION CENTRE
The DRB Compensation Centre provides services to assist victims and their loved ones in obtaining benefits for personal and material damage suffered from insurance companies. According to the ranking of compensation companies on www.rankingfirmodszkodowawczych.pl website, based on the opinion of lawyers and legal advisers, the DRB Compensation Centre ranks only 28th in Poland. What is the biggest failure of the company? First of all, it is famous for its poor management model. Unclear, substituted costs and settlement only on demand. The company had a very good start, copying most of the solutions of the market leader EuCO, but the end was not the best for cooperating agents. According to turnover, it was the third largest compensation company in Poland after EuCO and VOTUM, so it is a pity that it is no longer with us.
OMEGA
Omega is an investment platform that combines information technology and marketing methods. Project developers believe that their key to success is investing in highly profitable ventures around the world, such as innovative start-ups or cryptocurrency mining. The truth, however, is completely different. The Office of Competition and Consumer Protection suspects that the company may be operating under an unfair pyramid scheme. In addition, the UOKiK informed the Internal Security Agency of the possibility of committing a crime. We wrote for you about poor career plan and poor management in this article. The assumptions were very interesting, but the company went in the wrong direction. We don’t suspect that Omega planned to go toward the pyramid scheme from the beginning, because it would be the only company of its kind in the world that paid more than it collected. From our information it appears that the board mis calculated the marketing plan and promised too much. Unfortunately, many leaders who trusted her suffered.
ONE COIN
One more example is that a lie has short legs. One Coin is today the most famous cryptocurrency pyramid scheme. The Bulgarian company has raised as much as 4 billion euros ($4. 4 billion) in its Ponzi program over several years. Her co-creator Konstantin Ignatov is already in custody in the US. He faces up to 90 years in prison. His sister and partner, Ruja, remains at large. We wrote our article about this pyramid scheme. One of the company’s leaders was killed in Brazil.
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