Tuesday, 31 January 2012

Wednesday, 25 January 2012

Taking the Plunge into MLM

My old college friend confided in me that she wanted to take the plunge.  Not marriage, as she's already married with 2 lovely kids. But a different kind of plunge, that is, joining a multi-level or network marketing (MLM)  company.  She considers it a big leap, because she used to have a negative impression on MLM companies and their sales persons.  She previously had an unfavorable experience with another company, where she purchased an enormous amount of products. However, she didn't get any training and support in distributing the products and sponsoring people to the business.  

She feels that invitation at 15th Floor Octagon Bldg. was providential.  She is looking for alternative ways to earn income, because she wanted to quit her current job. She leaves home before 7am to work and returns home by 7pm.  She only has 1 hour with the kids and then, it's their bedtime.  As a mom, she feels so sad, that she cannot spend more time with her 3 year-old and 6 year-old.  She has the skills to teach lessons, to nurture them emotionally, but because of the usual need to earn a living and provide a comfortable life, she has to work. Ironic that other people benefit from her skills and talents, not her kids.  She has to hire a tutor for something she can do to her kids, but she just doesn't have the time!   

Direct-Selling, if she becomes successful on this, will allow her flexibility of working hours, and a potential for higher income.  In her current job, whether she gives the extra mile or not, her take-home pay remains the same.  

But this time, she is smarter.  She did not sign-up immediately after the business presentation.  "I will not be lured again by sweet talks and promises that it will be easy & quick money-back. I know that it entails hard work and I will probably shell out money, too. That's why I should know what I am getting into."

As her friend and favorite confidante, she calls me her "Life Coach."   I helped her research about Nu Skin Enterprises, to reinforce her decision that she chose the right company.  

I'm sharing this in my blog because I know, there are other people in the same boat like my friend.   Will you take the plunge, as well?!

  • Nu Skin operates in 52 international markets across the Americas, Asia Pacific, Europe, Africa and the Middle East with more than 825,000 active independent distributors.
  • Nu Skin came to the Philippines in 1998; they're on their 14th year of operations and continues to grow with offices in Ortigas, Makati, Alabang, Iloilo, Cebu, Pampanga and soon, Davao.
  • The company’s global operations generated more than $1.54 billion in revenue during 2010.  They are listed in the New York Stock Exchange; and is one of NYSE's Top 100 Companies, which consists of companies with an annual stock price increase of more than 60%.
  • Named by Forbes.com and Investors' Business Daily as Best of 2011; named by International Business Times' as one of the World's Fastest growing companies of 2011
  • Continues to innovate with new product lines such as ageLOC, which targets aging at the source, our Genes; and only recently, they acquired LIfeGen Technologies, a company focused on Gene Research related to the aging process.

  • Has contributed more than $23 million to improve the lives of children throughout the world.  They have a Force For Good Initiative, where distributors and employees can participate to feed malnourished children worldwide.  They have donated more than 220 million meals.
  • All their products are scientifically-validated and even if they're only health supplements and personal care products, they are pharmaceutical grade, with 75 scientists at their employment and a slew of world-class scientists.
and best of all...
  • Nu Skin can give the most rewarding compensation structure in the industry.  In the Philippines alone, Nu Skin Philippines has developed more than 100 local millionaires.
If you are the type who like graphs, surely, this will convince you of Nu Skin's unquestionable growth:

These are Nu Skin's world-class Scientific Advisory Board, which includes Carl Djerassi, the inventor of the Birth Control Pills.

So, my friend and I were discussing over our favorite brew.  What really sets Nu Skin apart from the pack?  I mean, we can always
rattle on about financial statistics. But to bring it down to the level where her family, her friends and her future business partners would understand:  “There are so many MLM companies out there, why would I be happy to join Nu Skin?
  • People.  Nu Skin attracts high-caliber people who are successful in their own right.  
  • Product.  Nu Skin sets the standard in the skin care and wellness industry, continuously innovating to create new products.
  • Opportunity.  Most rewarding and unique business plan, with the ability to seamlessly allow you to do business in 52 markets
  • Culture. Nu Skin remains true to its core value: Making a Difference.  Not just in products, but in other people's lives.
I am so excited and at the same time, scared for my friend.  It's not an easy endeavor she is getting into.  I just hope she perseveres against all odds.  I remember my favorite saying, "If you want something bad enough, the whole universe will conspire to give it to you." In this case, my friend wants the elusive dream of all.... Time Freedom.


Monday, 9 January 2012

Opportunity at 15th Flr. Octagon Bldg. Ortigas

An old friend recently buzz me in facebook and ask for my advise.  She has  been invited to join a Multi-Level Marketing company called Nu Skin Enterprises, which holds office at 15th Floor, Octagon Building, San Miguel Avenue, Pasig City.  I love Nu Skin and I've always used their products since time immemorial.  But to ask me personally, whether she should join and invest her time and money for Nu Skin. I'd encouraged her to read up about Multi-level Marketing / Direct-Selling and the company itself, so she can make an informed decision.

I've worked for an MLM company and I saw how tough it can be.  Joining an MLM company is venturing into a field that is very much different from traditional business or traditional 8-5 jobs. It will literally turn your world around.  It can make a shy person become extrovert. It can drain your time, money, your relations (it can break friendships, marriages...) However, if done the right way and one perseveres, the Reward is more than worth all the hardships.

I've witnessed how one farmer, with the help of his persevering wife, literally moved their lives from agricultural existence to becoming world-class, often traveling abroad, owning cars, a beautiful home in Portofino, Alabang, all because of Network Marketing, and their choice of vehicle to success, was Nu Skin Enterprises, and it started right at the same venue, 15th Floor, Octagon Building.

So, to help my friend, and to help my readers as well.  I've compiled a checklist, to empower you to decide, if the company currently knocking on your door, and offering you this tremendous opportunity, is legitimate, ethical and something that is worthwhile investing all your talents, time, money and efforts. There's just so much companies out there promising the moon and the stars. We have to be wise  in our decisions.

The Worldwide Federation of Direct Selling Associations (WFDSA), has a local afiliate called Direct Selling Association of the Philippines (DSAP).  Basically, it's a trade organization that adheres to a set of marketing and compensation standards to ensure that the industry remains legitimate, credible and rewarding for both the company and the distributors.

According to the DSAP,  a credible direct selling company, should meet the following 8pt. criteria:

1. Is there a product?
2. Are commissions are paid on Sales of products & services not  on Registration or Recruitment Fees?
3. Is the intent to sell a product not a position?
4. Is there no direct correlation between the number of recruits and compensation?
5. If recruitment were to be stopped today, will the participants still make money?
6. Is there a reasonable product return policy?
7. Do the products have a fair market value?
8. Is there a compelling reason to buy?

If the answers to all 8questions are YES, then the company you are evaluating is a legitimate company. If there is any hint of NO, or uncertainty.  Then, you need to think twice.  The company might be a fly-by-night direct selling business or worse, a pyramid scam.

There are 26 member companies of the DSAP in the Philippines, and one of which is Nu Skin Enterprises, Philippines.  The others are Amway, L.L.C., Avon Cosmetics, DXN International, Dakki Classics Concepts, DEI-Dragonworld, Direct Shopping, Inc., Empower Marketing, Fern-C, Filway, Forever Living, 4Life Research, Ganoitouch,GNLD, Herbalife,  Mary Kay, My Benefits Club, New Image, Nikken, Reliv, Sophie Paris, Sundance, Sunrider, Symmetry, Tianshi, Tupperware, Unicity, and Waters Philippines.

Now, if indeed you have concluded that the company you are eye-ing is legitimate.  The next question would be, is it The Best?  Needless to say, why would you join something that's behind the pack? If you will invest time, money and efforts, invest in the Best. 

Success from Home Magazine, literally the bible of entrepreneurs, and innovators, recently came up with its own criteria how to tell the best MLM companies, among the hundreds of companies sprouting up each year.  Does your chosen MLM company possess the following?

1. It should have some History of Longevity --   How long has the company existed?  Only half-a-dozen MLM companies have made the  $500 Million USD mark, a dozen has topped the $100 Million USD mark. Thousands of MLM companies start-up each year, only 2% survive for more than 5 years.

2. It should be Global.  -- the company should be able to provide you the  technology, and infrastructures to tap other markets.  Is the country present in several countries?  Does it allow you to participate in the business globally?

3. It should be Innovative -- you cannot keep selling the same product, with the same benefits, year after year. People's needs change and the company should always be on top of the game, continuously innovating, so you can offer new products in the market.

4. Credible Distributor Force -- the best companies usually attract similarly high-caliber individuals who are either established in their own  fields, or whose values are unshakeable.

5. Company Values -- besides making money, what does the company do to give back to the community? Are you able to participate in it?

Direct selling is one of the most profitable business, albeit non-traditional, for one who has the discipline, ambition and propensity to sell and create a network of like-minded individuals, there is a goldmine waiting for you. Just make sure you pick the right company! Good luck, my friend!