A GET-RICH-QUICK scheme?

I am a strong proponent of multi-level marketing (MLM). If done right, I believe it can be a source for a second stream of income for The New Professionals, which is also the title of a book by Dr. Charles King.

But if treated as a GET-RICH-QUICK scheme, it brings disrepute to the industry, as demonstrated in the disturbing story (via The Star, 13 March 2006) below.

"Troubled by greedy daughter - A GET-RICH-QUICK scheme that lured a 20-year-old girl to invest an initial RM2,000 has got her mother worried, China Press reported.

Known only as Tan, the woman told the daily that her daughter, a college student in Kuala Lumpur, paid the money to join a direct sales company as a member.

She said her daughter was then told by company agents that if she invested another RM30,000, she could easily get RM60,000 in six months.

“My daughter asked me for RM15,000 and said her boyfriend would help raise the other RM15,000,” she told the daily.

She refused to give the money and her nightmare began when her daughter vowed to borrow it from friends.

Her daughter, added Tan, had slackened in her studies after listening to “success stories” of direct sales agents earning large sums."

We all know who this report refers to so no prizes for the correct answer.

Incidently, I met a student of one of the local colleges in Subang Jaya last week. He was about to invest his parents' hard-earned RM30K into the same business. He sought my advise. I explained the business plan to him but he was too hyped-up to really take in anything. I suppose he belongs to the group that will have to learn their lessons the other way.

For those who are comtemplating the industry but are still unsure, there are two educational flash movies you will want to watch first. One is called "How the Wealthy Get that Way" which is about 10 minutes long and the other is called "Brilliant Compensation" which is about 25 minutes long. No hype and no promotions. Purely educational on how to understand and evaluate a MLM business. Just go to this site and look for the links at the left side.

Then send me an email raymond@nwatch.net.my if you wish to know more about the company I represent.