Showing posts with label Network Marketing. Show all posts
Showing posts with label Network Marketing. Show all posts

Friday, September 05, 2008

Business Network International (BNI) - Business Referral Revolution

Grab anyone in the street and ask him/her what's the best advertising method, and he/she will probably tell you it's word-of-mouth advertising.

Over the few decades, entrepreneurs have come up with various means and concepts to improve on sales by changing the way products are advertised. Every physical space that can contain advertisements are sought for. In the past, ads were restricted to billboards, newspapers and the interruptions to your soap opera. Now, advertisements follow where we go, for instance mobile phone, public transport, escalators, laptop lids, and the list just adds on. Advertisements are also more targetted.

One significant innovation of promoting business is the network marketing or multi-level marketing approach. It was first legalised after a lawsuit victory of Amway International. It plays on the fact that word-of-mouth referral is the most effective form of advertising. The industry has always been tainted with a bad name, not forgetting that some countries even outlaw such activities.

Today, I discovered a new concept. I learnt of this concept from a client. After hearing him out, I realised that actually I had received invitations from some other clients and a few other mailing groups.

Called the Business Network Int'l (BNI Marketing Pte Ltd), it is a platform for entrepreneurs/business owners to gain referrals for their business. The network is segregated into different chapters. Within each chapter, members come from various industries. Once the slot of a particular industry is filled, then no other parties from the same industry can join in the chapter.

The members of each network would gather every week for breakfast sessions to promote their businesses. Each member would be given a namecard holder so as to promote the businesses of other members in the chapter. There is an annual membership fee that (what I heard from my client) could be earned back easily.

This concept came fresh to me even though it had been around since 1985, an idea born out of Dr. Ivan R Misner. It seemed to be a macro-MLM to me when I first heard about it.

More ideas of promoting will surely surface from time to time. This is how the intellect of human works. But for now, I don't think I'm going to take part in this and would be enjoying breakfast at home.

Tonight won't be seeing BH... :(

Saturday, December 01, 2007

Smart Investment Talk by Money Problems Solved (MoneyPS.com)

Attended a networking event held at the Regent Hotel.

The Advertisement:

*Find out how You can earn 3% interest on Your finances every month!

* Learn the best-kept secrets on Futures, Indices and Options Trading!

*Find out how you can Generate a FOUR FIGURE passive income within 2-3months, with just $40 !

"Money Problems Solved is a group of individuals like you and I, founded in Singapore in September 2007 upon a book of the same title that was written in 1992. MoneyPS members are interested in finance, property, and investments at the personal level, the family level, and also, the business level. Members are able to network and cross-sell their products and services through our meetings and soon, worldwide,through our upcoming web portal. Purchasers of the MoneyPS book automatically become members of the club. We also raise funds for charities including the Willing Hearts Foundation and Unicef through the sales of the book. Currently, we have over 7000 members, and 120 active members in Singapore of varying professions, experiences and backgrounds."

The Programme:

MoneyPS http://www.moneyps.com/ is founded by Lance Frederick Shaw, an Australian residing in Singapore. Lance presented the programme to the audience.

Purchase a book "Thrifty and Drifty", which is a colouring book with simplified finance and investment information. Even kids can read this book. Price = 20 Euro. Once a member, you can purchase the book at a lower price and resell it to referrals.

After book purchase, you may choose to invest a sum of money with MoneyPS, minimum S$1000. The programme guarantees a minimum interest rate of 3% per month even though it had reached 17% in some months. The investments are managed by traders. Therefore, you typically do not need to do anything with it.

There is also a MLM feature in this programme. For your direct referrals, you can earn a commission value equal to 50% of interests earned from the referral. For the second level and third level, you can earn 10% of interests.

Other than profits from investment, MoneyPS is also capitalising on the vast database of customers to derive an additional income. This is possible because customers have to indicate that they permit the company to use their information before they could purchase the book online.

How to start?
1. Log on to http://www.moneyps.com and buy a book with Referral ID: 8919
2. You will receive your own ID via an email from the Administrators.

For investments,
You would need to sign a loan agreement with Lance Shaw, with him promising to return you 3% returns monthly. Upon signing the agreement, you will have a 7-day cooling period.

Sunday, January 07, 2007

Towards a Network Marketing future

I had a bad experience with network marketing in the past, but recently, I find that network marketing is something that can no longer be ignored. If you, like me, have had bad experiences with network marketing, it's time for you to open up your mind. If you love network marketing or are now into it, cool. If you don't even know what is network marketing, it is time for you to wake up!

Someone recently told me that the idea of network marketing derived from the concept of franchising. When the idea of franchising was first mentioned, there were many people who thought it was illegal or it should be made illegal. But franchising did not break any laws. So, the people who supported the idea of franchising went on to develop big businesses such as the famous example: MacDonalds. Those who rejected the idea lived on to face the reality that franchising is the new world of business expansion.

In Singapore, we are facing network marketing as the people in history were facing franchising. Network marketing was legalised by Minister Mentor Lee Kuan Yew in the early years of Independence (as so I was briefed) as he saw the potential in it. It was marred by unethical pyramid selling methods and other ill-minded organisations but such parties are increasingly getting rare.

Network marketing increases the efficiency of selling a product. With network marketing, which employs word-of-mouth advertising, advertising costs are avoided. There are other benefits in the system itself when coming to selling products, but that's not in my area of discussion, so ... next.

However, there is a difference in network marketing and franchising. If you see that there's already a MacDonalds in your area, you most probably wouldn't want to set up another similar franchise beside it. So the problem of over-crowding is very limited. But in the case for network marketing, everyone will try to attract every other one to join the company and be their downline. Because every other person, individual, human, can just join the company, there comes a problem of over-crowding.

Of course, I would agree that over-crowding is a very pessimistic view of the market. We have so many people in the world. The only concern is that because population is a number, not an infinity, so there must be a point of saturation that will be reached one time in the future that will slow down the growth of network marketing firms. As in the case of franchise, there are also a defined area in which you can expand on.

The moral of this article: Embrace Network Marketing as it will soon be part of our life.