Forgive me, I'm just a poly student

[Hermit]

Originally Posted by trusttutors

But our hdb is nearly fully paid. We don't intend to move in the near future, n I am still studying in poly after graduating from dunman high. I still intend to get a good job in the IT security sector upon graduation. I am just enquiring if a combined salary of 10k is enough to sustain a family

10k is more than enough, young man. Anyway, it is just a starting point. Long way more to go.

[trusttutors]

Originally Posted by Unregistered

anyone else notice this series of posts sound like a great advert?

before joining this "poly student" , please refer to the below:

Sunshine Empire - Wikipedia, the free encyclopedia

U know there's something I hate? I hate it when people say I am trying To scam someone else with a piece of info that they deem as fake without any investigation. U really think u are a smart Alec? If you want I could show u evidences of me being a Nyp student and a graduate of dunman high. Please, stop jumping into conclusions as if you know everything. I came here only To ask if 10k is enough to keep a family afloat in today's Singapore context, only To be disgusted by some behavior we have here

[trusttutors]

Originally Posted by Unregistered

anyone else notice this series of posts sound like a great advert?

before joining this "poly student" , please refer to the below:

Sunshine Empire - Wikipedia, the free encyclopedia

And also, i find u very shallow n ignorant. U quoted sunshine empire as an example of a failed MLM. Have u realized there are many successful MLM in the world. In fact according to some fianancial experts, network marketing is the way to do biz in 21st century. But it seems that some of ur opinions are so confined, u can't accept other ppl's opinions. If u can't accept MLM, it doesn't mean others cant

I worked for MLM before, when I thought it was the big new thing.
Not surprised that a lot of people can be successful in it. But there's always suspicion because many like to flaunt their wealth or stories to entice others in. In JC I had a friend who was always trying to recruit and he showed us his check of 4.8K i think, after being in for a few months. I was impressed, but something felt wrong...

Anyway, my own experience is not impressive. Toward my best moments, my revenue was coming in at 5K a month, but it wasn't pure profit. See, being successful in MLM (at least for me) meant having to incur costs. In essense, I was investing 3K a month and getting 5K back - along with hard work!

Recently saw that friend of mine with the 4.8K check. He's never had many girls, but he was with a really hot girl. They didn't look like they fit together, but clearly can see she's onto him. Immediately obvious to me she wanted his money (or maybe she was a downline of his that he helped a lot and is still helping so she's so eager to please). Then saw him get into a sports car. Not too shabby. Maybe not his car, not his money? Who knows...but I guess some people do make it.

Originally Posted by trusttutors

And also, i find u very shallow n ignorant. U quoted sunshine empire as an example of a failed MLM. Have u realized there are many successful MLM in the world. In fact according to some fianancial experts, network marketing is the way to do biz in 21st century. But it seems that some of ur opinions are so confined, u can't accept other ppl's opinions. If u can't accept MLM, it doesn't mean others cant

Yo. If you are so smart to talk about financial experts and networking blah blah, you don't have to come here to ask a simple and stupid question like how much is enough to support a family. Can't you ask all your super successful seniors and uplines in your esteemed MLM company?

I still suspect you're here to recruit downlines. Wrong forum, cos people here are smarter than you.

Most MLMs are scammy in nature. It's up to you to believe. Good luck.

MLM can work, if it is limited in the number of downstream. The concept of MLM is actually quite simple:

Sell = Cost + Profit (P)
Profit = Seller's Cut (B) + Upstream Cut (L)

The profit (e.g. 30% of the cost) is shared between the seller and the upstream. Each upstream is a certain percentage (e.g. 10% for each level). If there is only 1 level of upstream, the seller gets P-L, or 90% of the profit for the sale, each level pays 10% as "commission" to the upstream, i.e. L3 will have to pay L2 20%, L2 keep 10% and pays 10% to L1.

For (legal) MLM to work, the first premise is that the profit has to be high enough to sustain the profit sharing and generate sufficient motivation to get people to sell. i.e. if the number of levels increases, the lower level may end up with only 40% of the profit and pays 60% to the upstream. In such case, don't think anyone will be motivated to continue to sell. The second premise is that the number of levels must be capped. In doing so, the MLM is restricted in how it reach out to "real" customers. For L = 1, this is essentially the same as normal marketing approach.

Since commission is a percentage of profit, unless the original profit of the product is obscene, the commission is actually not high (e.g. 10% x 30% or 3%). The lower the commission (e.g 5%), the more levels and wider the MLM, hence it is a balancing game. The higher the percentage of profit, the less likely the product is of value to real buyers.

Since the earning is basically a function of the agent's network, the larger downstream the agent has, the more he/she gets from commission. This is akin to running a business with many many salespersons. However, MLM does not solve the fundamental issue of
Supply and Demand of Goods being sold.

Hence, MLM is really just a quick and effective marketing tool. If the product is real and competitively priced, the actual commission earned will probably not be high. If the percentage profit is obscene, then either it doesn't sell, or the product may not be legit.

Originally Posted by trusttutors

sab is awarded professional enterprise certificate, along with 11 other corporations such as qian hu. That's one thing why i believed them. The other thing is that they are on channel news asia esabee - sab on channel news asia cna - youtube
that's why i believed them over the others, and that they would not disappear overnight

*****advert******

join now, what are you waiting for?? Make me rich!!!

I dabbled in MLM before for about 1.5 years in 2006 – 2008. I was considered relatively successful in the company, getting payouts of about $6k per month, but after some time when I really sat down to do my sums on an excel spreadsheet, I realized the profit I end up was miserable for the hours worked.

A lot of people just take the payout they received a month and count that as “salary”, but this is ridiculous because that amount is just “gross revenue” to me. There are so many additional expenses in the course of selling that when I deduct, the end result is pathetic.

In a typical month, my earnings will be roughly like:

Compensation Earned: $6,000
Car Petrol Expense: ($600)
Car Park Expense: ($150)
Meal / Coffee Expense: ($750)
Marketing Materials: ($350)
Inventory Obsolesce: ($250)
Company Activities: ($200) <-- Technically this is not compulsory, but there is great social pressure to participate in them and I do take part in them as part of the process to coach and build up network for my downlines.
People Management: ($150) <-- Occasional team treats to downlines to keep up morale and stem attrition

Net Income: $3,550

As you can see end result is around $3.5K working for 7 day workweek and meeting people at strange hours etc. No CPF, no annual leave, no medical benefits, no AWS, no OT etc compared to if I just take a normal job.

Of course some of my colleagues try to cut corners like taking public transport, going to cheaper places to meet people like food court / kopitiam, save on brochures, premiums etc, save on spending on downlines etc. But all this will affect the compensation earned also because the number of people you can meet in a day drop a lot cause your venue and timing become very restrictive. Also downline attrition become very high.

In the end I left and joined a SME as a Corp Coms Executive, that time they offered me $2.8k + $300 transport allowance, competitive benefits and manageable working hours.

Haven’t regretted since then ;-)