Zeek Rewards Closes Doors
This disappointing news just came through from Npros.com
“LEXINGTON, N.C. — Rex Venture Group, the company that operates Zeekler.com and Zeek Rewards, has closed its headquarters and is apparently under investigation by the North Carolina Attorney General. Signs posted on the windows of the company’s headquarters stated that the offices were closed and instructed visitors to check the company’s website for more information. As of today, Zeekler.com and ZeekRewards.com had no further information other the following message: “Zeek Rewards is currently unavailable. More information will be available shortly on this website.”
The North Carolina Attorney General’s office has received dozens of complaints and inquiries about the company since February.
An unidentified spokesperson for Zeek Rewards said the company closed so that it could respond to a Civil Investigative Demand — an administrative subpoena issued when the Attorney General suspects an individual or organization may have information relevant to an ongoing investigation.”
So what happened with the famed reverse auction deal that has been a very hot fast moving MLM business model over the last several months?
Well to use that oft heard phrase in the world of MLM “Maybe it was too good to be true”
In the world of Network Marketing there are many types of MLM marketing plans and business models and of course they all have their benefits and sometimes risks. I tend to look at them as
- Watch Out
Now everyone has their personal opinion about which type of deal fits in which category and I of course having been in the MLM industry for over 25 years and have seen so many companies come and go that I have my own personal opinions about MLM success and the risk reward ratio.
So what constitutes the difference between a “Killer Deal” and a “Watch Out” proposition?
Now in today’s market there some really innovative business models that have really never been tried before such Zeek Rewards or Empower Network where people have made enormous amounts of money in fairly short periods of time, but there are some critical differences and red flags to look out for before you take the leap.
Now just to illustrate the difference lets use those two business models as an example, Zeek Rewards and Empower Network
Now Empower Network that I have written about twice is truly a unique extremely high profit business model that is not really even an MLM however the hybrid-top tier business model can pay huge rewards pretty quickly. Heck I know people in Empower Network who have gone from zero to $94,000 in income in 60 days.
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Empower Network however is a work program that uses a powerful passup compensation plan that actually mimics the rewards of a Top Tier MLM but has such a low entry point that it attracts droves of people who enter the system to check it out and then get excited and upgrade and because of the passup compensation plan generates big bucks if you actually work it.
Notice the operative word here is “Work it”.
If you jump into Empower and buy all the training programs and go “All In” you will have spend $1625 however you will make nothing if you do not work the program and drive lead traffic to your system.
No work, no money!
Now compare the reverse auction business model used by Zeek Rewards and a crop of other Zeek Rewards wanna bees flooding into the market. The key sales language you hear from excited reps pitching those deals is that you don’t ever have to sell anything or even work the program, just invest your money and let it grow.
I have even heard people selling projected returns like some type of annuity program …..
“Hey just put in your money and you will get 2% per month”
Now language like that makes me nervous from two standpoints.
- One of the key criteria the regulatory agencies use to access MLM’s are if they are being sold as an investment vehicle. If it is then you run afoul of all kinds of SEC regulations that regulate investments and how they can be sold. If this kind of language is used by distributors it is in my opinion the Kiss of Death to an MLM deal, it is only a matter of time
- With the reverse auction deals I have looked at everyone claiming to be making money but they were all leaving it in their account and not withdrawing it so they could try to maximize their money growth. Humm…… very dangerous. Being rich on paper on rich in real terms are two very different things.
You must be smart and beware of “No Work” programs and empty promises.
Now if you were in Zeek Rewards hopefully you were pulling your money out as you went, if not ….
Hey I am not trying to rain on anyone’s parade here but I think high profit work programs like Empower Network are a much better choice in my book.
For more information on a “Killer” high profit work program deal check out Empower Network