Is Syntek Global a scam?
Syntek Global is an mlm company where people have the opportunity to sell products and build a downline. This company is not a pyramid scheme because the major difference between an mlm and pyramid scheme is that a mlm has products to sell and a downline is optional.
I am not a big fan of MLM, but this company is not a scam.
With a pyramid scheme there are no products to sell which makes it illegal. Talking of selling products, you must be wondering which products you can buy or sell from Syntek Global? The product that is the driving force of this mlm is XFT oil. This is a oil that you can mix with your fuel that will give you the following benefits:
- Improves your car’s fuel economy.
- Longer engine life.
- Reducing your emissions.
- Increasing your performance.
So each time have refuelled your car, you can just squeeze some of these oil into your tank.
The compensation plan
There are various ways to make money with Syntek Global. I will discuss each one of them below:
This is the easiest way to make money with this company. First of all you need to have your own website that will act as the platform for where you will present the products to them. When a customer makes a purchase, you will earn 25% commission from every product they buy.
Remember that your customers are not part of your downline and you only earn commissions from the sales that you make. You also need to generate at least 25 PV (personal volume) from your personal account. Your PV will build up for each item you or your customer buys.
Binary Team commissions
When you are selling the products to customers, you are considered a distributor. Now let’s say that one of your customers decide to also become a distributor. When you refer people into your group, you will start to build your own team of distributors.
The amount of money that your team makes will be considered as GV or Group Volume. You will notice that your personal volume will form part of the total group volume for your top line.
The binary team structure allows you to have only 2 legs or 2 groups of distributors. It costs you nothing to become a distributor and you only need to generate a personal volume of 50 into your personal account to activate group volume or payments.
You will have a left and a right leg and it is obvious that the one leg will always make more money than the other leg. If your one leg made a GV of a $1000 and the other leg made a GV of $800, then you will earn 5% commissions from the weaker leg and 5% commissions from (stronger leg GV – difference between stronger leg and weaker leg).
So in essence you will make $80 from your weaker leg and $80 (10% of $1000-$200) from the stronger leg. Now where is the other $200 going? That $200 will be rolled over to the next month where your stronger leg will start with $200 and your weaker leg with $0. It is the same as earning 10% from your weaker leg.
The only bad part of this model is that you can only have 2 legs or groups and if you bring in more than 2 people into your group, they will be added further down into your group.
Check match commissions
Remember that the binary team commissions allows you to only have 2 legs, but with the check match commissions, there are no limits to the amount of legs that you can have. You will also earn 10% of all the money being made in all of your groups.
Let’s say that you have 7 legs in each one makes $500 then it total all your groups will make $3500 and you will get $350. With this commission plan, you need to generate at least 100 PV and enroll to the $598 starter kit.
Fast start bonus
You get this when you have enrolled someone to your group and they buy one of the 2 types of starter kits that Syntek has to offer. For starter kit 250 you will earn $25 and for Starter kit 500 you will earn $50 commission. The starter kits include products that you can use for demonstration purposes and you will also get a bit of training on how to start your business.
The difference between the 2 starter kits is that the 500 kit gives you more products to test.
There are other bonuses such as the Infinity bonus and the Build a Pro bonus where each one has its own pre-requisites and benefits.
Tools and Training
You will also get a website that you can use as a platform to sell the products. The design looks great, but the website is not optimized to bring you any money on autopilot. I can build a website that has the potential to bring me a passive income online.
Do I recommend Syntek Global?
Syntek looks like a legit program with some great products to promote, but overall I am not a big fan of mlm because of the following reasons:
- You are dependent on your downline. This is by far the biggest problem for me when it comes to mlm. When your downline is not working then you can forget about making money especially if they do not know how to market the opportunity.
- Word of mouth. I tried mlm back in 2013 and did not achieve any significant success at all. I was advised to talk to my family members and bother random people with the “opportunity”. It instead soured up relationships instead of building new ones. I also grew tired of all the meetings that I had to go to.
- Pressure from your upline. When I started with mlm, I did not have a lot of money to start with, so I could not buy all the products that were thrown to me. I also did not have enough time to spend 4 hours per day to talk promote the company. The result was that my upline started to push me to work harder and spend more money on the products.
- Dependent on only one company or product. This is causing brand loyalty to the company and limits you to sell other products that you believe in. This also puts you into a saturated market where you are competing with other people that are also promoting the same products.
- High costs to join. Let’s take Syntek for example. Before you can really make money, you need to buy the $598 starter kit. This is a lot of money that most people do not have. I can start my own online business with even less than half of that.
To sum it all up, I am not a type of person that wants to “recruit” other people into a business opportunity and then I also have to spend a lot time teaching them how to recruit other people into the group. I do not want to pressure my downline into buying more products or recruiting more people into the group.
I want a business model where I am in full control 🙂
If you want to join Syntek Global, then it is up to you. Just make sure that you join under a strong mentor that is willing to teach you how to build your own downline especially if you are new to this. There are some crazy stories about people that are rich because of mlm which proves that it does work, but that is just the minority.
MLM is one of the ways to make money, but it is not the only way to do so. There are other business models that can bring you a passive income as well where you do not have to recruit people to make money there is also no complicated compensation structure because you get money for each sale you make.
You can also tap into niches that have way less competition that that of MLM. One of my first websites is where I am promoting mattresses online and earning commission on autopilot. One very powerful business model is called affiliate marketing where you promote products from companies such as Amazon and Ebay.