Network Marketing in Singapore Building an MLM business |
Network
Marketing, MLM or Multi Level Marketing is a fast growing industry in
Singapore with top network marketing companies setting up regional
headquaters locally such as Amway, Herbalife and Nuskin. Though they
are many other network marketing companies that offer similar business
opportunities, it is best that one look into companies that are
registered with Direct Selling Assiociation of Singapore to start an
MLM business. A Multi Level Marketing business is similar to any real business opportunity such that it requires time and effort to make it successful. It is a simple business but again like any real business it is not easy. The business is simple in a sense a new distributor, with a low franchise fee, can get to represent a high value product without spending thousands of dollars on reseach, development and manufacturing facilities. Amway products are for example known to be of high value but yet economical. They have their own manufacturing plants and have more than 500 patents on their products. They also offer 100% money back guarantee on their consumables. Most new network marketing distributors will have none or little backgound or experience in business or selling. Therein lies the difficulty for many to have great success in the business without proper guidance through mentoring, coaching and a business educational program. The attractiveness of a legitimate multi level marketing business opportunity is that it requires a low capital start-up cost and no risk at all. At the same time the rewards of having a successful network marketing business is great. The rewards are dependent on the effort put into building a organisation with a combination of a customer base and distributors. To understand the the philosophy of building the network marketing business, view the interview with the co-founder of a Amway, Rich Devos. Though Singapore has a small population, it is an important market to many top network marketing companies. The tight regulations by the Singapore government on illegal pyamid schemes is a reflection of the company reputation if it is able to operate and grow locally. Reputable direct selling companies in Singapore are members of Direct Selling Association of Singapore (DSAS). DSAS interacts regularly with other direct selling associations particularly those in the ASEAN and East Asia countries as well as with the US DSA. It has an excellent working relationship with Consumer Association of Singapore (CASE) based on mutual trust and respect built up over the years. DSAS co-operates with CASE in helping to resolve consumer complaints not only with regard to DSAS members but also non-members. |