Saturday, March 01, 2008

So what's MLM

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MLM..hmm Abang Abu will say "Meniaga Larut Malam..". In a way its true..hehe

Anyway here some questions asked by one of my friends. I took the liberty to answering her. So here you go the questions and answers.

I'm researching on multilevel marketing (MLM) and i was wondering if ur doing that or u have done that.

if u have, could u help enlighten me on these questions:
1. what is MLM? what do they do?
2. why do people go into it?
3. what are the pros and cons of the job? compared to "normal" jobs
4. would you call it an alternative career?
5. are there any stereotypes regarding the job? esp about it being about conning people?
6. what is the money like? and the future prospects?

if you have no idea on MLM, just ignore this email k? cos i thought u did this for awhile sometime back? maybe its my memory failing me. anw i need this as background research on alternative careers. so i would really appreciate if you could help me on this. im rushing it for fri. if you could, reply me asap? doesnt have to be long. just answer the qns and importantly your thoughts on it.

thanks alot!!
My Answers:

MLM - Meniaga Larut Malam..heh...Just joking

Well let me try to experience based on my experience. MLM is just like any other business. Its rewarding when you develop a huge network and for some it has become their work/job/career.

There are several companies that operate as an MLM. Companies such as AMWAY ( which I join previously ), COSWAY, etc, etc.

MLM started in the early 60s when companies decided to reward their friends/relative/colleagues for referring their businesses to others.

This is an example..It varies from company to company...

Usually when people buy a product at retail price the cost is 100%. But when you join as a distributor you get to buy the product at maybe 75%. Therefore these distributors can sell these products and earn the 25% commission.

Other than 25% commission. If this distributor manage to sell more they will receive bonuses based on the sales volume. example they sell $1000 worth of products, the distributor can earn another 3%-21% of $1000.

So yup there are different levels. Distributors could also recruit others and get them to do the sales. Cos its very tough for one person to make sales of $1000 per month. Therefore if you have a network of people to do that for you, you earn the commissions easily.

That should answer question 1.

Q2. People go into this business to allow them to earn extra income first. Unlike most business, MLM business you do not need to create your own products or services. Everything is ready for you to sell and market. Basicly an MLM member is the marketeer and seller!! Once their business network is huge enough and returns are great, usually the member will quit their full time job and do this business full time.

Q3. The pros!! The best thing in MLM is that you will receive FREE education and motivation from Uplines / Mentors / Teachers in the business. They provide free guidance and its up to you to pick this skills up and develop the network.

The Cons!! Usually there is a system to follow. There are times that you cannot do the things that you really want to try out. If the company have limited products. That's the only product that you can sell. So if you are keen on selling technology products, the company may not have that. So its all about passion and beliefs. Not everyone can do this business.

Q4. You can say so!!

Q5. Stereotypes...Yes...Conning Many!! Well it depends on individuals. The reason people are conned are due to greed. Those are the types that do business just for the sake of money. They do not believe about changing another's persons life to the better nor helping others to be richer. It all depends on individuals "Nawaitu".

Q6. The potential is huge. In the earlier stages of doing this, definitely income is hard to come by but once you build a resourceful network, the income is generated passively.

I hope I manage to explain the MLM business as clearly as possible. There's a lot more to it actually. If you want to truely learn about Business i would suggest you learn it from an MLM business. Really!! you will learn a lot especially with the mindset, SYSTEMS and you will learn to accept REJECTIONS. Its not for the soft hearted though...Good Luck..

Anyway is a form of MLM except that we market it online.

My Life Mission: I enable others to discover purpose in their lives and empower them to pursue their dreams and live life to the fullest with God's blessing.

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  • Hmmm... Wondering who u were refering to & the question u refer to...

    By the way, currently I'm doing MLM too. It's a great thing to do because of the experience & upgrade in life. I do not know much about it. But anyway, just give u my opinion, as I just involve in this kind of business for only about 2 months. MLM.. Hmm.. Can I say 'Meniaga Larut Malam' too..? Hehehe ;-) It's true! That was what I heard from my upline's story, which they'll meet up till late night. But for me to stay till late night.. Nooo (anak dara tk boleh balik malam2.. hehe).

    In this biz, the two words that attract me most is the Passive Income. That's what I'm in the process of learning. Not quite sure about the system though. But it's good to hear that the money always there (it's legal anyway). Can do this biz internationally (they just open pipeline at Vietnam!). The amount of income will depend on how big the dream is! Like others, I made this as my second career.

    Most of all, the benefits alot! Upgrading from old life to new life. Also gain leadership in the person. And this kind of business, is always helping others to find them a perfect life. To help others, first is to have mindset & character of leader. Then to guide them will be the easiest thing to do.

    Hmm.. Not for the soft hearted? Lets not make that as first intention. The focus is to achieve the goal. That's all.

    By the way, where are u rush to for friday? For me on every Friday, will always attend the Business Preview at Suntec City. Don't know why, we all have to attend just now (yesterday night).

    By Anonymous Ana 'Ayesha, at 2:59 AM  

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