People who present business opportunities but don't tell you what the business is?

Lately a guy who works in the same building as me has presented a business opportunity with his college friends and partners, a young couple around early 30s. He never discussed what the business was, I had to schedule a zoom meeting with them.

During the zoom meeting I met the business partners. We basically talked small talk, and they said the meeting was just to get to know each other and see if it will work out, and if we have the same business principles. They also mentioned that their mentor is some rich couple who taught them the way. Still no mention of what we are selling or what services we are providing. 

We scheduled a new meeting coming up soon, and I asked the guy who introduced me to this for some type of hint of what the business entails. He says he wouldn't do it justice over text, and after we get to know each other and establish if it will workout, they will go into the fine details.

I'm aware that it sounds like a ponzie scheme. 

My question is, are there any stories of people becoming successful after joining business opportunities that start off like this?

10 Answers

Relevance
  • 2 months ago
    Favourite answer

    This is a scheme.  You could do two things here.

    #1 BACK OUT.  Tell them that without some very strong upfront information...like the NAME OF THE COMPANY!!!, whether or not they are on the NYSE and  5 years of financial statements you are not going to waste your time with a bunch of idiots who are out to use you.  If he says something...make rude noises and go 'Full Monty Python' on him.

    If you can't get at least 2 years of financial statements...RUN!!!!

    #2 PLAY THEM.  If you are the roguish type, you go to the meeting.  You get names and phone numbers, contact info and everything and then you turn it allover to the Better Business Bureau and tell them it is a Ponzi scheme.

    But there is no way on this planet that set up is legitimate and real, you know that, everyone on Yahoo knows that and even 'Pizza Rat' knows that!

  • 2 months ago

    I always encountered this kind of people. They post a job hiring on social media. They don't mention the company's name but their achievements and how they became rich. They persuade people who needs the job badly, they won't give you idea until you attended the orientation then you will discover that this business is about networking.

    Attachment image
  • 2 months ago

    No to your last sentence.

    How is one supposed to earn your trust and your investment without being upfront about the nature of the business.

    I would pull out now or at least demand to KNOW what the business plan IS before proceeding with getting to know one another first.

    That is ridiculous and you have every sign to question this business investment. When something does not make sense, there is good reason to be suspicious.

  • 2 months ago

    Ohhh.. this is what criminal business opportunities looks like:

    "the meeting was just to get to know each other and see if it will work out, and if we have the same business principles. They also mentioned that their mentor is some rich couple who taught them the way".....

    Really?

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • 2 months ago

    I went to a group interview once. There were probably 30 people there. They went on and on about how easy it would be to become rich with piles of money just waiting to be taken. They also didn't say what the business was.

    About 30 minutes after showing pictures of smiling rich people in their beachfront homes, they finally showed the product. Kirby Vacuum Cleaners. Immediately a dozen PO'd people stood up and left, including me.

    They're wasting your time, they're being dishonest in order to manipulate you.

  • Judy
    Lv 7
    2 months ago

    Just tell them you aren't interested.  If it was a real opportunity, they'd tell you up front what the 'business' is about.

  • 2 months ago

    Those are all red flags, back out of this.  A legitimate business is going to be up front. 

  • Anonymous
    2 months ago

    If they quickly give you details, you'll figure out you don't actually need them at all. 

  • Eva
    Lv 7
    2 months ago

    Typical MLM pitch, probably Amway or similar company. You are right to be suspicious of anyone that won't disclose what the "opportunity" is and requests multiple meetings. They make money by recruiting others, Once the area gets saturated with reps, the ones that got in most recently won't make much money.  I really object to how secretive they are and the lies that are told to try to sign people up. If you're not a natural salesperson, don't waste any more time on meetings.

  • 2 months ago

    My guess is that most of them do start like this.  They don't want people to do any research prior to the meeting.

    You are correct.  This is, most likely, an MLM (aka Network Marketing aka Pyramid Scheme).

    My hunch is that it is Amway.

Still have questions? Get answers by asking now.