At some point in your life, you’ve probably come across the term multi-level marketing . Perhaps you’ve even been enticed by an acquaintance to be part of the scheme yourself, after hearing colourful accounts of those who have joined and succeeded greatly.
If I manage to recruit 10 people each month, I would be earning quite a considerable amount just on their sales alone, provided they succeed in selling their products. In turn, the potential commission to be earned motivates those I recruit to recruit others.MLMs in Singapore: who they are and what they sellInternet forums commonly cite Nu Skin, Herbalife, Elusyf and Mary Kay as prominent MLMs in Singapore.
Accordingly, these companies have to obtain specific licences to conduct their businesses. Insurance companies, for instance, must be granted a licence by the Monetary Authority of Singapore before they are allowed to operate. However, a business model that thrives on the recruitment of more representatives to sell the products involved, rather than the profits from the sale, would resemble an MLM more closely.
Story continuesIn any case, it’s important to be firm and stand your ground if you are approached. This may sound rather elementary, but at times, recruiters can be so convincing you would be more than ready to hand over your credit card after 30 minutes.
Bad! Selling greed and get rich fast!
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