Name: Team Vinh
Price: Free to sign up, but the total costs (initially) are $338.97 + a monthly cost of $39.95
Overall Rating: 1 out of 10 stars (I don’t see there being much value in this MLM other than getting the profit sharing benefits or referring others which leads me to conclude it’s a pyramid scheme).
It’s been awhile since I’ve reviewed an MLM, but Team Vinh recently came up on my radar so I looked into it. Setting aside all the professional lingo, it was easy to see what this program was trying to pitch me and with that in mind, I’m going to share my opinion of it.
Team Vinh in a nutshell:
This is a company which claims it can automate the process of lead generation if you just have people sign up to the site through you. You get people there and they’ll turn those leads into customers and help you create a down line. The pitch itself isn’t really new and there’s a number of MLM programs and training centers which already have this process down.
At it’s heart, Team Vinh (V for short) does 2 things:
1. Offers you access to share it with other people. You basically sign up (for free to see what’s inside the back office) and get a referral link. What happens is that you can use this referral link to refer others to the main Vinh website so if for example, my name is Vitaliy and I signed up with this program, I’d get the site link and anyone who visits it will see the Team Vinh main website with my name on it.
The “benefits” this offers is that when people sign up through you, you can earn commissions in the process and form a down line. Now how much you get paid per referral is something I didn’t see as I couldn’t find the compensation plan on their website.
2. You can sign up to receive a 2% profit sharing plan. Whatever revenue is generated by this company, 2% is given out to it’s “founders” which is just another word for members.
From what I’ve read about this company, they are seeking to mix in with a number of different industries in the offline world, including real estate, and “green energy” type companies, among other things they haven’t listed yet. Basically they seek to connect with a number of different industries, invest in them (my guess) and whatever revenue/profit this yields to share with their members.
I did read a notice in their about ebook that they will close the 2% sharing plan once they reach 50,000 members which I assume means anyone after that quota will not be able to partake in the incentive.
What do we really have here?
With any sort of MLM and program that likes to hype themselves, the idea that you can automatically generate leads and have companies like this do the rest and also make a percentage of the company’s overall profits sounds really nice. It almost feels like you can sit back and enjoy the ride, but there’s a huge problem I see with this company and that is…
It looks like a pyramid scheme:
I believe many MLM’s share the pyramid scheme characteristics and with Team Vinh, it’s hard to convince me differently. There aren’t many details on the company other than the benefits you get. I couldn’t find a compensation plan and all while researching it, I was trying to figure out if they offer you anything of value other than the ability to promote the company itself.
And the problem is that I couldn’t find any of that. I signed up for free and there was no problem in doing that, but at the same time, you’re not given anything else but an affiliate link to promote the company. The only other thing you’re told to do is buy membership into the site which will cost you over $300 and monthly expenses too.
And from the bill breakdown, it doesn’t seem like you get anything other than some licensing abilities to receive what’s known as a “V pack” which enables you the ability to create a down line. Aside from that, there’s really nothing else that I saw.
So based on this alone, I concluded there was nothing else to this program other than to promote it to others and if you know anything about pyramid schemes, it’s that they just give you the ability to promote them, but in order to do so, you need to pay a hefty price.
Perhaps for the price you pay, you may receive training and bonuses to help you accumulate leads and send them to your affiliate link. For the benefits of the company, they should provide that at the very least.
Lead generation isn’t as easy as it sounds:
If you lack marketing experience, it’s going to be very difficult going from home to home, making calls, trying to recruit friends and family. You can even end up breaking friendships, no matter how good you make your sales pitch sound.
I’ve had one family member try to recruit me into a company called Zeek Rewards which ended up being a huge ponzi scheme. Never mind that, the fact that he was trying to get me in and was telling me of the benefits sounded like he was trying to make a buck of me and it rubbed me the wrong way. I can’t say our relations have improved since then.
But before I sound biased, understand there is also the other side of the coin which is you can make a lot of money by creating a gigantic down line, but that’s going to be a long process. I do lead generation personally, but never into MLM’s. I simply don’t believe in them.
Final Rating: Team Vinh
1 out of 10 stars. In my opinion, this program is a pyramid scheme and I would never want to recruit people into it.
My final thoughts:
After seeing the other side of marketing, I am really against doing business with any type of MLM. Many of them try to make it seem like they’ve simplified the process of success, but as a salesman and marketer, I don’t see that. What I only see is them trying to get you to buy and that’s the catch. And I don’t believe in the value offered in this business, hence I can’t recommend it.