The network marketing industry in Singapore has evolved quite quickly over the last few years. More and more graduates are starting to get involved in this exciting business which was not the case in the past.
This makes alot of sense as the business model became more and more popular and more modern as time went by. So why do so many people get excited about MLM anyway?
The biggest advantage of this industry, is the potential to generate a massive amount of money each month. In fact, if you look at the investment cost versus the amount you get back from the business, it has the biggest ROI out in the market.
Why? Because of its structure and the fact that the remuneration is commission only and is based on performance. The second reason is that it allows the average Singaporean to get out of the corporate rat race. This is huge! Especially in a country where most graduates strive to go corporate, it is a release from the clutches of a modern capitalist society. And of course is also a release from the suit, the politics, the 6 day week and your tiny 3 foot cubicle.
But really, these reasons boil down to two main things – time and freedom. Time to actually enjoy the truckloads of money you worked so hard to make and financial freedom to actually enjoy all that life has to offer.
So we know that MLM is getting very popular and you can make lots of money. Well what about the success rate? Unfortunately the success rate in this business is a measly 3%. That means that 97% of all people that try MLM fail. This is a worldwide statistic and is not isolated to just Singapore. So why is that?
Well, unfortunately most big MLM companies are still stuck in the stone age and train their distributors on the most out of date prospecting techniques. They tell you to make a list of 50 to 100 people you know and go out there are pitch your amazing opportunity. And once you run out of friends and family to speak to, they tell you to cold call, buy crappy leads online and pitch anything with a pulse! Sound familiar?
So it isn’t a surprise that most people end up failing when such ineffective recruitment methods are being taught. It is this very training and traditional methods of marketing of this business that has put a lot of people in a bad position. But is there a better way? Absolutely! Since we are in the modern age, we really should be maximizing the use of current forms of communication and avenues to reach our audience. We need to broaden our scope and use tools like the Internet to reach an international audience and not just people in Singapore.
People also need to focus on marketing so that they can “attract” people towards their business instead of prospect where they are constantly having to “chase” people around. And isn’t it time you stopped hassling your poor friends and family? At this rate, you will have none left!
So success in a Singaporean MLM has nothing to do with the company or the product. At the end of the day there are many good companies out there and unless it is a cure for cancer, it is YOU that still needs to sell the business. Therefore learning how to “MARKET” yourself and the business using modern day tools, is really the key to success in this industry. Learn how to market, get the right training on MLM lead generation, learn how to provide value to the community and you can be successful in any MLM company.
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