The advantages of network marketing. And why ppl WANTS and LOVE NETWORK MARKETING

Hi all SSuF members,

Most us had negative thoughts on network marketing, or what ppl always known as MLM. However, in order to be a successful entrepreneur, we must always be open up to new ideas. I have not achieved successes in Network Marketing biz yet, but I believe there is alot of potential in this field. I am opening this thread, to solicit positive comments on network marketing and hopefully, purge out all negativity on the biz.

Ppl who have successes in this area, pls feel free to share with us your experiences.

Lets start the ball rolling...tks Very Happy

Hi Everyone,

Since no one has posted anything to this thread. I might just keep writing, in hope that ppl will change their mindsets towards network marketing.

I address the differences between Network Marketing & Pyramid Selling first:

Network Marketing
1. A legal form of selling.
2. Based on principle of sponsoring and TEACHING others to succeed in an ongoing business. Similar to that of franchising.
3. Consumers can purchase products and services without getting involved in the marketing program.; conversely, those marketing the program do not have to purchase products first to market it.
4. A recognised form of business which is endorsed by Bill Clinton, Donald Trump, and Robert Kiyosaki.
5. Those who join the biz can make more than those who joined them earlier, even possibly surpassing their uplines. It is based on a FAIR marketing plan where all members have a fair chance of building a successful business

Pyramid Selling
1. An illegal rip off scheme. Aka Ponzi.
2. Based on the principle of getting in first or very early so one can sign up others and encourage them to do the same.
3. Everyone has to join the pyramid to participate; and no valuable products are offered to the customer. Some pyramid schemes do have products, but they are not sold retail. Instead they just move among recruits and generally no uses the products.
4. A get-rich quick scheme that is regarded as fraud by the govt.
5. Those who join the program later usually make much less and eventually loses money when it becomes saturated, or when some whistle blower expose the scheme.

Hope this helps to kick start some discussions Very Happy

Rgds

Well, at least now you know the different between "Network Marketing" and "Pyramid Selling".

I know some of you will say that a normal business has a pyramid shape, meaning One CEO at the top (tip of pyramid), and many employees at the bottom (base of pyramid). So please don't confuse "pyramid selling" and "pyramid shape".

Network Marketing is not my preference, but I can see why some others would like to join such networks. For the opportunity to make money, and passive income.
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Its Forum Creator here! afro

Hope you all enjoy the forum! Let's learn, contribute and grow, SG entrepreneurs.

Oh yes, in actual fact, network marketing is actually 'inverse' pyramid shaped in nature, as it aims to develop leaders, and wants to pull ppl to the top. I wrote abt this fact in the other thread under "Network Marketing" topic.

I see the opportunity to develop myself in networking marketing biz, besides the fact that it provides passive income. I can learn how to network, persuade, negotiate, leadership skills, teamwork, communications, and the art of leveraging.

I sincerely hope that ppl who have good experiences in network marketing, to share with us this amazing business, as a passive stream of income.

Rgds

Hi Everyone,

I have been doing my research since I started this thread.

What I have found out is that network marketing is a good biz strategy which most have us have misunderstood.

I read 'Dream Achievers' (can be borrowed from Bk Merah Library), which is a compilation of 50 Successful Network Marketing Entrepreneurs. Very inspiring and motivating. It does mention alot of times abt the negative mindset ppl have on MLM because of the few things that MLM biz encompass.

E.g. fear of rejection, fear of talking to ppl, requires alot of effort (as in any other biz). However, these are all the essential skills which one requires to make it big in the outside world. So getting yourself into network marketing actually trains you in these aspects.

Of course, not all MLM biz are not all good biz though. U really need to analyse the company, products and compensation plan, b4 deciding whether to go into the biz. But there are good companies out there. And once you find it, you will be able to make it big if you work hard enough.

Remember, MLM is not a 'get rich quick' scheme. It is a 'get rich' scheme Very Happy

I will contd my research in these area. Hope this is gives more insight in this biz.

Rgds

Rising Star Posts: 161 Reputation: 2 Join date: 2009-06-28

Good to see that you are serious about this..

Sounds kinda like freelance sales to me.

I prefer to define Network marketing as 'guan xi'. MLM is MLM - to me it is quite different.
I meet many people across my social circle and work environment. I keep a tab on what these people do and their family background. They are my network. Every now and then we'll keep in touch through phone/emai/lunches to keep our data updated. You never know if the course of your business/career, you will need to consult a lawyer, or a school teacher, or you may need them to connect you somewhere......etc.

I learned that most effective sales/business are referred, even jobs.

The most needed attitude in net working is sincerity.
The most needed skill in net-working is keeping things updated and keeps connecting people. (could be tiring and time-consuming).
Networking does not work with either less.

Agreed about the referred customer.

Referred customers are more likely to buy, because they had a personal friend be a 'testimony' for the product/service.
_________________
Its Forum Creator here! afro

Hope you all enjoy the forum! Let's learn, contribute and grow, SG entrepreneurs.

And referred customer like relatives are more supportive of your product too, although they may not help refer it to another person, them buying 1 from you is a start.

I felt that network marketing is not entirely on selling products. I see it as more of a sharing the opportunity and a product.

If the other party is not interested, it could be that he might not need it currently. Therefore, this biz should not be hard selling, although there is a certain level of follow ups with a prospect.

Hard selling are often the main reason why most ppl have negative sentiment towards network marketing biz.
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Rgds,
Wealth Creator

"Revealing The ONE Secret That Has Made Millions On The Internet...
And I'll Give It To You FREE...Yes, absolutely FREE!
You dont even need to opt in with your email.
What are you waiting for?"
Go to http://bit.ly/aG5rYx and click download!

Hi Everyone,

Although not many ppl are participating in this thread, I felt obliged to contd sharing my insights and things that I have research so far on network marketing

I read 2 books recently by Robert Allen's Multiple Streams of Income and Robert Kiyosaki's Business School. Both endorses network marketing.

Since after today's meetup, we discussed Jean Yip's franchising biz. Hence I am taking this opportunity to share abt the comparison of franchising and network marketing and why the latter is so much better!

Franchising
1. Large upfront franchising fees
2. Leasing office/retail space
3. Hiring, training, managing employees
4. Stockpiling, inventorying products
5. Shipping / Delivering products
6. Locked into retail biz hrs
7. Linear Income (you must be present)
8. High overheads

Network Marketing
1. Small initial distribution fees
2. Work from home
3. Recruiting, training others
4. Little or no inventory
5. Company ships products directly to customers
6. Flexible hrs
7. Potential for residual income using power of leverage
8. Low overheads

This is adapted from Robert Allen's book.

I will contd to share. Hope we are keeping an open mind and learning something everyday

_________________
Rgds,
Wealth Creator

"Revealing The ONE Secret That Has Made Millions On The Internet...
And I'll Give It To You FREE...Yes, absolutely FREE!
You dont even need to opt in with your email.
What are you waiting for?"
Go to http://bit.ly/aG5rYx and click download!

I have spoken to Wealth Creator.

It seems like the network he joined is pretty good in the sense that there is no "hard-sell". It is more free and easy.

Most people have bad impression of MLM because of lousy sales-man who join MLM and hard sell others.
_________________
Its Forum Creator here! afro

Hope you all enjoy the forum! Let's learn, contribute and grow, SG entrepreneurs.

Hi guys,

I hope with this thread, ppl are not mistaken by my intention. I am not here to promote network marketing biz. I am inclined to encourage ppl to open up their minds in everything, esp for entrepreneurs. The very basic definition of entrepreneurship has some form of being 'adventurous' and the courage to try out everything...

The fact that I went into this biz is that it offered the most important thing a successful person needs, which is the education, and also the most important skills sets one needs to be equipped with, the 'sales' skill.

In addition, I want to personally experience why network marketing is one of the longest industry around? Why biz such network marketing giants, such as Amway have been notching historical sales results year after year, if it is really that bad.

_________________
Rgds,
Wealth Creator

"Revealing The ONE Secret That Has Made Millions On The Internet...
And I'll Give It To You FREE...Yes, absolutely FREE!
You dont even need to opt in with your email.
What are you waiting for?"
Go to http://bit.ly/aG5rYx and click download!

It is always good to try new strategy to understand how the mechanics works. Unfortunately it is not me to try out network marketing. But I do hope if you are interested in this strategy, implement it for your own business one day rather than joining one will be great...