You have reached this post and clicked it, simply because you want information about 15th Floor Ocatgon Building / Robinsons bank building / Teleperformance building or 26th Floor Trafalgar Plaza Bldg, and indeed you made a wise decision. You don’t want to be scammed, no one does, and unfortunately a dozen or so entities out there indeed does deceitful practices. 15th Floor Octagon Bldg is Nu Skin Philippines, a Multi-Level Marketing (MLM) company, and the mere mention of MLM’s project negative reactions from the public because of misinformation, so here is a list of how to exactly pin point the bad apples from the legitimate ones. First and foremost, only a half-dozen MLM companies have topped the $500 million mark, and a dozen has topped the $100million. But, literally hundreds, if not thousands of MLM companies start each year, and fewer than 2% survive more than 5 years. When you are looking at network marketing as a means to build assets, long term is more important than short term. What marks the survivors and legitimate ones? Eager to point out facts from fads? Check the list in this post, then research the company (Nu Skin Philippines) for yourself and see if it meets all given criteria.
For one thing, Nu Skin is listed in Success Magazine (give short description of success magazine), and before Success Magazine publishes a feature article about a company (specifically MLM or distribution companies), it must first undergo careful scrutiny and meet certain qualifications.
Here’s their list of its criteria.
1. A company should have some history of longevity. Check to see if the opportunity has existed over time. Hundreds of companies sprout every year, but fewer than one percent survive past three years. We urge individuals to make sure the company they’re inspecting has some staying power- as would any MNC company – that it’s not transient, and merely a fad.
2. Make sure it’s an innovative company – that it’s a global company. They should be heavily invested in technology – to provide enough infrastructures for growth globally. See whether it has highly desirable products positioned for the future (companies which have created brand equity with their products is a big factor in creating permanent wealth). A company should have unique (patented) products and services that are targeted at huge and expanding markets.
3. There are indicators beyond the quantitative. See whether the distributor force has high caliber individuals who have a sense of credibility.
4. Check to see if the company is driven by values.
Harvard educated Charles King, Ph.D., marketing professor at the University of Illinois in Chicago, has made an intense study of the Network Distribution industry and in fact, teaches a course on the subject at the graduate level. His suggestions for selecting a viable company closely mirror those of the editorial staff at Success.
1. A company should have an established track record, a high-tech distribution network, and financial stability, and this should be transparent and audited by credible entities as this industry is loaded with hype.
2. They should have a highly developed support system with training systems and materials to develop leadership in the distributor force.
3. They should have a product that is credible, good, and consumable (a want product).
4. They should offer the prospect of growth through expansion, innovation or diversification to create an ever expanding market and infinite growth for its distributors to maintain excitement.
Find a company like that, says King, and you can ride this growth curve of network marketing to Permanent Wealth.
OTHER SIGNIFICANT FACTORS TO CONSIDER
• A company should be willing to supply the average earnings of its distributors at each level of the compensation plan. Those that won’t probably don’t want you to know how few are actually earning significant incomes. In a traditional business environment you wouldn’t dream of joining a company without first knowing just how much you can actually make.
• You should never join a company that is not a member of the DSA (Direct Sales Association). This has been a very powerful regulatory organization in America for many decades. Companies must operate under their watchful eyes for three years before being considered for membership. This is usually a good stamp of approval.
• Don’t be fooled by how good some compensation plans may appear on paper. A marketing plan doesn’t equate to a comprehensive business plan, as every new company will tell you that they have a “better” marketing plan, that may not necessarily work.. You’ll fare much better in a company that utilizes a breakaway plan rather than a matrix, as it’s a more natural way to create consumers. All the “big-timers” and “long-timers” – the thriving companies, which have massive amounts of successful people who have created permanent wealth – as Nu Skin Enterprises, are driven by the breakaway plan a plan that is patterned after franchising rather than a “money game”. Binary plans (a variation of the matrix, which is banned in several mature MLM markets such as Malaysia and Taiwan) are to be avoided. As they tend to be focused on recruiting rather on the distribution of products.
• A good company will have a generous (90%) refund policy during the shelf-life of its products. This prevents you from getting stuck with an abundance of unwanted goods.
• Products should be reasonably priced; you must be able to compete in the marketplace, in terms of value.
• Avoid companies that “Frontload.” Some companies sell you on purchasing significant amounts of products initially (to buy in to a position). This is how many people have lost money in MLM. A quality company would never recommend such purchases. Good companies provide reasonable money-back guarantees on their products and a generous product refund policy
• There should be a qualification period during which a distributor is expected to sell and learn the business, and in effect, earn the right to move up to the next commission level. If you can “buy” your way to the top of the compensation plan – that company is walking a dangerously fine line between a legitimate company and an illegal “pyramid scheme.”As there will be no need to create a stable consumer base, which is the whole point of network distribution (distributing products through a network). Legitimate companies make money on the sale of “real” and consumed products that people want, not on the scheme of recruiting new participants.
Now, these are all stated in business-point of view, and not through personal or partisan opinions with which one could make a vague judgment of. This is about making an informed decision that you yourself could make based on actual facts and figures in the real business industry.