It was around this time last year that the Mavrodi Mondial Movement known more popularly as MMM was winding down in Nigeria. It is probably easier to translate MMM for Money Money Money because anytime it sweeps into a nation, that’s the only thing the people can think of.
MMM for Money Money Money is a proper way to consider the Ponzi scheme that soon thrust a host of people into trouble despite all the warnings that came beforehand. It did not matter that these warnings came from various experts, the media or even friends and loved ones the people who were taken in by the movement just could not stand the lure of money.
In fact, in Nigeria when it became apparent in December 2016 that the movement was winding down, some hardcore believers still defended the beloved MMM and insisted that it would only come back bigger and stronger.
MMM, meanwhile, was branching out and beginning operations elsewhere in the African continent. Some lessons are a bit harder to learn when all we can see is money money money and this is why despite MMM’s failure, a few people still publicize and patronize other Ponzi schemes that sprung up in the wake of its demise.
Here are a few things that MMM should have taught us about our quest for Money Money Money
Shortcuts rarely take us anywhere good
Shortcuts are enticing. They promise us a way to get to somewhere that we want faster than everyone else. However, it is good to remember that there is a reason why actual routes and processes exist. Two quotes on shortcuts come to mind;
“Every shortcut has a price usually greater than the reward.”
“In life there are no short cuts; process is still the best way to get ahead.”
We can lose more by taking shortcuts than we would have if we just stuck with the proper process of getting something done. It is helpful to remember that the route to making money is to work smart and be diligent.
Something that is too good to be true is probably a lie
Life is not a bed of roses and so as such we can expect to work for the things that we want and even when we get them, to work to sustain them. Something that is too good to be true is something that is so good that it is hard to believe, or seeming very good but not real. The promise of getting money without putting in the appropriate work is often too good to be true.
Although we should not move through life cynically we should learn to interrogate everything that makes reality seem like a dream.
Before investing in something it is good to find out how it makes money
Making money is pretty straightforward process no matter what industry or idea one is considering. One offers value and is rewarded for that value by money.
It is, therefore, necessary to answer the question of what value a business is offering in exchange for money before putting our eggs in their basket.
When someone or something tells you who they are, believe them
One of the first things that you will find out if you are reading up on the Mavrodi Mondial Movement is that it was a Russian company that perpetrated one of the world’s largest Ponzi schemes of all time. In fact close to 5 to 10 million people were said to have lost their savings.
Despite this obvious bit of history about the movement, many people still invested hoping that they could game the system and make it work for them.
Greed will always have a sad ending
Greed can often make us ignore obvious signs and the voice of knowledgeable people who still take the time to point out dangers to us. Even MMM Nigeria on its website told people to put in only their spare change and avoid greed. Still, a lot of people put in huge chunks of their savings and eventually lost them when the movement shutdown.