Name: International Silver Network
Price: $198 initial + $119.90/mth
Owners: Matt Barkes and Vincent Roy
Bare Naked Scam rating: 1 Thumb Down
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Is International Silver Network a Scam?
Don’t get me wrong, I am not saying International Silver Network (ISN) is a scam. The main reason for me giving ISN a thumb down is because I find that the opportunity is not for beginners, particularly for those who are not interested being a salesperson.
Founded by Matt Barkes and Vincent Roy in 2010, International Silver Network is the “Direct Sales” arm of ISN Modern Coins which is one of the largest modern coin dealers in US. So is International Silver Network a scam? My answer is “No”.
International Silver Network like Numis Network are cousins in the same industry. They both share the common characteristics of an MLM company and are dealing with silver coins. The only difference between the two companies are its compensation plan and that ISN has more variety of gold and silver.
There is no doubt that ISN is a legitimate company. I am sure that the coins that you will be receiving should you choose to join ISN is authentic. I must be upfront that I am not here to debate whether it is good to be a coin collector or whether keeping coins is a good investment, I am here to discuss with you the possibility that you are suitable to be a part of ISN.
There are so many positive reviews about the ISN opportunity but I just wanted to share my views on the practically of the program and bring balance to the pros and cons of the company.
International Silver Network is built upon the direct selling Network Marketing (MLM) platform. What it simply means is that you have to be a dang good salesperson in order to be successful in the industry. You must note that nothing sells for itself and you shouldn’t join the company in hope that someone else will do the selling for you.
Most importantly when you are joining a company like ISN, you MUST follow a great leader/sponsor. By great leader I mean the leader must be able to nurture you into a great sales person. This is the only way you can be successful in the direct sales company unless you are already a great salesperson yourself.
Be wary that if you followed the wrong leader, the chances are that you will lose interest and quit the business in a short period of time. The education you get from different leaders differs and this is something that I do not particularly like about a direct sales network marketing company. I shared my experience on another direct sales MLM company here.
You see, I came with experience in MLM companies and almost every single MLM company have different unique selling point, and every one of them claims their compensation plan is the best. But, it boils down to whether you are able to rip any benefits from the Compensation Plan.
Before I dive into the compensation plan, I would like to share with you some of the common pitfalls of joining a network marketing company. I have heard from many people who joined the Network Marketing company and gave up after a few months because:
- they felt that they did not receive enough education and support from their upline (people who have sponsored them);
- they felt that they were not ready to be a salesperson.
- they find that it is too hefty to pay hundreds of dollars every month to maintain in the opportunity
The Compensation Plan
To be honest, if you are not a very good sales person in the first place (not saying that you won’t become a good sales person in future), you probably may not generate any income for the first few months. You may probably generate some income but not a substantial amount in the first year after tonnes of effort is put into the business. Such situation is common in the MLM industry and you have to be prepared for it.
Selling a product like silver may be easy, but retaining a person to be a part of the MLM business is really difficult. Not all people are cut out to be in the MLM industry, I certainly am not one of them, but this doesn’t mean that you cannot be a part of building other businesses.
I came from past experience in the MLM industry but I found myself building an affiliate marketing business instead because it is much simpler and I do not need to be a sales person. You can check out how I build my online business here.
My Personal Statistics
Coming back to ISN, this is a personal statistics that I have discovered when I was a part of the MLM industry. Out of 100 people I know (family and friends), 20 of them are interested in the product I am selling, 8 of them joined my company and finally 1 of them stayed in the business with me. This lasted for 8 months and I finally call it quits.
With 1 person staying active in my team, I practically made zero income in my previous MLM company. With ISN I would have made approximately $220 plus 8 silver coins but will lose $1,037.30 due to the initial start up and the maintenance fee which I feel may balance out.
Especially in direct sales, you are basically going to sell your products to your friends and family (“Warm Market”), but what happens if your Warm Market turns dry, you may need to buy phone leads and start doing cold calls or buy soloads (if you are a online marketer) and start send out emails.
I’ll be frank that I could not participate in the ISN business as it is only available is certain countries otherwise I will be able to go deep into the members area and share with you how you are going to promote the ISN opportunity when your Warm Market turns dry.
This far down the review, you have probably learned how the MLM business works. It doesn’t matter how good your product is, what matters is your selling skill and your ability to retain your downline (group members under you).
Is International Silver Network worth your time and money?
If you are ready to be a salesperson and you have found a sponsor whom you know can nurture you into a great salesperson AND you have a strong mindset, then it would be a resounding YES. However, if you are not ready to be salesperson then this opportunity may not be for you.
I know you may disagree with me but that is ok because it is up to you to decide for yourself. I am just sharing my experience with MLM with you.
My Sincere Advice to You
If you have decided to be a part of ISN, Great! I have nothing against it. But if you are still trying to find an opportunity other than being a MLM marketer, then I have an alternative route for you.
But note that I am not selling you an opportunity, I am going to share with you how I educate myself to build an opportunity on my own. As they say give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime.
So if you are ready to learn how to make money online by creating your own opportunity, then check out my #1 Online Business Training Course. I’ve created a video which shows you a brief idea on how I make money online.
If you have any experience with ISN whether be it a success story or a failure, I am eager to know about it. Kindly share your experience with me by leaving a comment below. If you find my review useful, please help to share it with your friends and family by click on the social media buttons.