Many businesses that neglect their compliance have lost MILLIONS or even went bankrupt.
We commend you on your desire to succeed, but even the most successful people understand that they CANNOT afford to let compliance issues hinder them.
When you neglect your compliance, you face:
Compliance lawsuits are expensive and time-consuming. They could hit millions in cost, which could be enough for you to go bankrupt. These are high-profile cases caused by non-compliant marketers:
- My Pillow Settles Consumer Lawsuit Over Health Claims for $1 Million
- Coca-Cola Sued for Alleged Deceptive Marketing
- Danone agrees to pay $1.7M in yogurt health claims case
Imagine your company facing such compliance lawsuits. Worse still, your customers get implicated. They believed in your salesman’s claim that your health supplements can cure their diabetes, only to fall into diabetic coma. And you will have to litigate on the payment of their medical bills.
Bad news spread like wild fire, and your business name is so tarnished that everyone avoids you. When you are riddled with compliance lawsuits, customer complaints and damaged reputation, your only option is to shut down.
You would wish that you had paid some attention to compliance before growing your business.
Compliance is not an obstacle. It is an OPPORTUNITY for you to access a bigger, profitable market. When you understand the rules and stay compliant, you actually enjoy more benefits.
Stay free from unnecessary lawsuits
The nitty-gritty details may seem like an unnecessary chore to you. But if you neglect them, your valued customers suffer the most. Imagine yourself claiming to earn millions from joining your business. Your prospect quits his job, only to be stuck when he realises he lacks the capabilities to succeed in your business. And when the lawsuits come in, you will waste a lot of time and money on settlements. Some would hire a lawyer to sort them out, but most of us don’t have such resources while we are still growing our business.
It pays for you to be compliant and free from trouble, so you can focus on your business.
Naturally, compliance opens you to a bigger market while limiting your liability. Compliance is defined simply as obeying the rules. This refers to the laws of the country you are operating in and the rules of the company you are representing. When you understand the things that you should and should NOT be doing, you can prospect and grow your business without people hindering you.
A stronger customer base and a better reputation
When your prospects and customers see you as a compliant business, they will have the confidence and faith to invest in you. They know they are in good hands. Your reputation spreads. Your customers are more than happy to refer your compliant business to their relatives and friends who need your solution. They’d instinctively put in a good word for you when prospects want to hear some reviews.
Whether you are a business owner, distributor, salesperson, or a marketing strategist, you want to succeed. And when you are compliant, people will actually help you succeed!
We are experienced compliance consultants from SBA Mobile Solutions LLP, and we will kickstart your business on the right track. Compliance is actually EASY when you have the right advice.
Lead your business to success with good compliance. Schedule a consultation with us today.
Email address: ContactUs@SBAmobile.com
Mobile: +65 96690757