BidXcel closed doors and out of business

I just saw that BidXcel closed its doors and went out of business.
This is again an unfortunate situation in the mlm industry. While penny auctions do continue to make money and have huge profit margins, it remains questionable as to how effective they can be a business model.
For those involved, don't give up. Get up and get back out there. Network marketing and mlm are still amongst the top business models one can participate in, but as with any business it can take effort and the "right one".
Certain business models are proven to work and be effective for MLM, others are in a 'test' phase. My recommendation would be that as you explore different business models for success keep a proven one in your portfolio.

That is too bad. Zeek Rewards made people question the business model of penny auctions as well. If people are going to look into MLM, be sure to do your research before jumping in.

Thanks for the post FreeCashMan.

Someone wanted to recruit me for that the other day. I told them it won't be around for long... Guess I was right.

Penny auctions use shills to make DAMN SURE you pay a substantial price.

The owners probably did go through some challenges and did not want to overcome them. There are some companies who did go through a lot of setbacks but because they pushed through, they are doing really well right now.

One of them was Amway. If you take a look at their story and how they had the FTC challenge them and go to court with them, some would have quit, take their tale put it between their legs like when a dog gets scared and then put his tale between his two legs.

When a company pushes through and believe in their vision, they will be a winner.