Coronavirus Affecting The MLM Industry

Multi level marketing, or MLM, is described as the process of recruiting people to become their distributors and sell their products to whoever their distributors can convince to buy. Because of its nature, literally anyone can get into the MLM industry without requiring knowledge about trading. This would also lead to its recent surge in popularity during the coronavirus pandemic as most citizens are stuck at home with nothing to do. In some households, citizens are struggling to generate income as the working members of the family are either let go by their company or aren’t paid by their usual salary. This would cause some households desperately looking for other ways to generate income and the MLM industry is the perfect industry for the current situation. Besides that, most businessmen would invest into MLM to generate income on the side along with their main job.

In order to increase work efficiency and productivity, every MLM company is using a software that would help them automate some of their process and act as a platform for communication and upload important documents. This can be useful especially when there are many recruits and veterans who wish to refresh their memory as the person in-charge can create a channel that would only contain educational materials for anyone to download whenever they want. With plenty of malaysia mlm software to choose from, it can be difficult to consider which software will be suitable for your company especially when you are a newly established MLM company. 

Despite all of the benefits, the MLM industry has been infamous for using the pyramid scheme by even some of the biggest MLM companies. Amway and LuLaRoe are some of the MLM companies that have news written about their schemes, but LuLaRoe has taken the biggest L on their career recently as they have been reported to be scamming billions of USD. Additionally, some MLM companies exploit the pandemic to recruit naive and uninitiated people by providing promises of earning a large sum of money in a small amount of time. This would also unintentionally cause the MLM schemes to become more known to the public and cause the creation of social media pages. These pages would provide advice and knowledge to help the uninitiated learn more about the MLM, the jargons used by recruiters and the risks of investing into an MLM business.

If you still consider investing into MLM, then make sure you approach professionals and veterans for advice on how they should start, what to look out for and the companies that are safe to invest into. Additionally, make sure you have a lot of cash before investing into MLM just in case you are dragged into your companies’ pyramid scheme.

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