I live in Singapore and work full time for an organisation here. I have been reading Robert Kiyosaki's books because I'm interested in entrepreneurship. He mentions that it is best to get experience joining a "network marketing" company.
I do not quite understand how this experience will help me become a business owner. From my research, what I found is that network marketing is a pyramid scheme where I work for someone else but I also have the authority to employ people under me. If these people under me make a sale, I get a commission. Is it right?
So please explain to me how I can get into the MLM industry in Singapore and also how it will benefit me.
The only reason you're reading up articles, information on MLM as Pyramid Scheme in Singapore unlike in other countries are primarily due to the fact that majority of the Sales Distributors in Singapore know little to nothing about the business nor the real benefits of the business other than just doing sales to make money.
Cut things short, like what most internationally written books wrote about direct selling, there are numerous benefits about direct sales aka mlm, but in Singapore, companies are not taught the basics (where it's the most important aspect) so that's why you read up tons of information tagging it as Pyramid Scam so to speak.
Why: Because most agents will run/quit/shoot themselves in their foot when they learn the wrong tactics, say the wrong things, sell products that they don't know, resulting in refunds etc.. and the best part to top it off with, the management of the companies are just after sales, money, and turn a eye off to the nasty/poor sales presenation made by majority of the sales distributors even in the senior sales leaders..(that's from what i experienced and heard from)..
As for which company to join, by now you should have some PMs from other companies in your inbox..but choose carefully, don't be taken in by their lies..
The only reason i'm still here despite is just so to prevent and deter those black sheeps from tricking more people into buying unncessary products wasting their precious hard earned money.
Don . . . . the true pyramid scheme involves input of money, but has no products or services offered up in exchange. Be clear about the true definitions. Many companies, regardless of whether they are MLM or not, have operational "schemes", not just some illegal MLM's.
To wit, MLM is no different than many other heirarchy businesses. There is usally the executives at top (like MLM in which you have the leaders), then a bunch of people who go out and do the work to help build the company - kinda looks like a pyramid, but that is the pure form of business - Chairman/CEO, down to the rank and file.
There are many good MLM businesses out there. Look at the leadership, the products, the comp plan, and others who represent the company. If you cannot find yourself to be a customer of your own products, then I recommend you find another MLM to look for. You also want a company that has a good compensation plan. There are many forms of comp plans, so study up.
As to the-fallen's comments about local MLM's, you might explore opportunity with some of the more proven int'l companies who have expereinced great success around the world. There are usually leadership that come into Spore to train on a regualr basis. He is correct in that many are not taught well or do not take the time to learn the basics of good MLM practices. Leanring is part of the experience, which in turns will help you to grow in business and personally.
You will find if you conduct good business, you will attract "like-minded" people to your team. Yet, as with any business, it is a nurturing process. In due time, you will find success and derive benefit from one of the 4 quadrants of income that Robert Kiyosoki has talked about in his book. Good luck.
to help you navigate around the complexed network marketing maze in singapore especially..
here's a simple rule of thumb..know and determine if you yourself are ready to be part of it..
applicable to regardless what choice you choose in future:
Example: if you choose to invest in bonds/stocks/shares/diamonds etc..you need to have really deep wallet ya..
so if you choose to jump right into direct selling/mlm..make sure you are willing to suffer from set-backs inclusive of lost of reputation (friends all abandon you >> worse case scenerio) plus you throw money out of the window (blind investing in products you don't need)..and be able to walk away from the industry still able to survive on your own.. >> in short, once you fall down, you must learn to stand up brush off the dust and yet only to fall again and again until you learn how to not fall down..
if you don't want to lose your friends (trust among your friends, relatives etc)..i would advise you NOT TO JOIN/EVEN CONSIDER ABOUT MLM.
oh ya, before I forget..word of advice..for newbies..95% of the mlm companies in singapore have compromised on their values, principles, ethics of running a geunine business (to help people grow their wealth) without any intention of mis-leading naive and gullible individuals (newbies)..all just to cash in on fast profits.
in a nut-shell: over 95% of companies have turn their backs against the very basic principle of helping people grow their wealth for the long-term..only to make people much worse situation than before they join the industry..so weight your options REALLY CAREFULLY..
If anyone of you are in MLM, insurance or property agent and seek an alternative differs from MLM, insurance or property, perhaps you can make an appointment with [email protected] You do not have high or any upline, meaning commission do not share with anyone except yourself.
Hi don: The book that you read is it titled "why we want you to be rich" by robert kiyosaki & donald trump? If this is not the book,i will strongly encourage you to read this book.. was recommended by my cousin to read this book and i find it very good... :)