I had a meeting with my former dealer today. We settled her accounts payable to us. Her purchases started on April until July 2010, which amounted to Php 96,950. And take note, she had never paid a single cent. I admit, it was our fault. We trusted her since we are friends and business associates. If we could only turn back time, we should have not lend her anything.
To make sure that we can set legal actions against her, I made new sets of "Trust Receipt Agreement." I made a clear and clean copy of TRA. FOr those who do not know, TRA is basically used to make the dealer/networker to pay for each and every items that he borrowed from you. Most people has a notion that nobody's been imprisoned because of debts...
Well well, not this time peeps. The trust receipt agreement is very much valid to get a person arrested and imprisoned. All you got to do is to keep the TRAs intact, clean and filled-up clearly. You have to file a complaint against the dealer involved in local courts. They have a room that accommodates this kind of stuff. After all the legal matters, you can even accompany the authorities to arrest your dealer. If the dealer wishes to settle the account, he/she have to pay the gross amount or the amount stated in the TRA. In addition, he/she also has to pay for the legal costs.
So, next time you encounter this situation, be sure to always use the TRA for your protection.
Business Management 101
After months of hibernation from our direct selling/networking business, today is the start of rising up... After all the failures that I mentioned in my previous post, I have finally made my feet stood up to strive more to succeed.
Do you want to know how will I do it? Well, i had months and months of mind setting and self-motivation. I tried not just once, but, countless times to get back on the business and make it profitable. However, these countless times never seemed to work. By that time, the idea of failing haunts and hurts me deep. I just realized that one of the main reason for not recovering instantly is fear... fear of prejudice...fear of not making it right for the second time. These are just normal reactions, right? But, it took me months to accept it. I guess this is still normal, tho'.
This post is titled "Business Management 101" basically because this will be the beginning of our reborn business. I may have not studied business management academically, I believe that my experience provided me more lessons learned.
From now on, I will be sharing with you my daily steps towards my goal. We all learn together! :)
Do you want to know how will I do it? Well, i had months and months of mind setting and self-motivation. I tried not just once, but, countless times to get back on the business and make it profitable. However, these countless times never seemed to work. By that time, the idea of failing haunts and hurts me deep. I just realized that one of the main reason for not recovering instantly is fear... fear of prejudice...fear of not making it right for the second time. These are just normal reactions, right? But, it took me months to accept it. I guess this is still normal, tho'.
This post is titled "Business Management 101" basically because this will be the beginning of our reborn business. I may have not studied business management academically, I believe that my experience provided me more lessons learned.
From now on, I will be sharing with you my daily steps towards my goal. We all learn together! :)
Benefits of Multi-Level Marketing
All businesses, including multi-level marketing, have pros and cons. MLM has been under so much scrutiny for quite some time. It has also been badly mistaken as a pyramid scheme.
For those who do not know, MLM is one of the best ways to achieve financial freedom. It offers incentives that are not possible in the employment world.
First, the MLM provides you an option to directly sell the products or to build network. Both approaches have huge potential for bigger income at the same time.
In direct selling, all you've got to do is to entice customers to just change brands. If a prospect's used to the taste of his coffee, just ask him to taste your product. I am sure that most of today's MLM products contain organic and herbal ingredients which are good for the body. With these advantage, you can easily sell your coffee.
You can also be successful in networking. Just look for the people who are like and can be like you. He should be teachable in most ways. Since this is a people-oriented business, it is better if you look for a person who can be versatile in dealing with other people.
Aside from the monetary benefits, network marketers may also have the chance to travel within the Philippines and abroad for free. What a good business, don't you think? Most MLM companies offer this vacation galore to their members. This is one of their strategy to maintain excitement among its members. Who wants to go abroad for free? Why don't you try networking? You don't only earn, you also have the opportunity to relax in fantastic places FOR FREE!
If somebody shows you an MLM business, don't be close-minded. This might be a blessing for you!
For those who do not know, MLM is one of the best ways to achieve financial freedom. It offers incentives that are not possible in the employment world.
First, the MLM provides you an option to directly sell the products or to build network. Both approaches have huge potential for bigger income at the same time.
In direct selling, all you've got to do is to entice customers to just change brands. If a prospect's used to the taste of his coffee, just ask him to taste your product. I am sure that most of today's MLM products contain organic and herbal ingredients which are good for the body. With these advantage, you can easily sell your coffee.
You can also be successful in networking. Just look for the people who are like and can be like you. He should be teachable in most ways. Since this is a people-oriented business, it is better if you look for a person who can be versatile in dealing with other people.
Aside from the monetary benefits, network marketers may also have the chance to travel within the Philippines and abroad for free. What a good business, don't you think? Most MLM companies offer this vacation galore to their members. This is one of their strategy to maintain excitement among its members. Who wants to go abroad for free? Why don't you try networking? You don't only earn, you also have the opportunity to relax in fantastic places FOR FREE!
If somebody shows you an MLM business, don't be close-minded. This might be a blessing for you!
My Difficulties in Direct Selling
It is more than one year of my full-time involvement in direct selling. I thought that it would not be so difficult... I thought that it would be fun.. (I love selling, it is fun in most ways tho')... BUT it is so sad to say that I failed.
I failed in choosing the best people to be a member of my network. I failed to differentiate the good payers from the best debtors. As a result, I had more debts than my expected good income.
I failed in disposing all my stocks. I failed to return the replaced items. As a result, I still have mountains of apparels, shoes, cosmetics, fragrances and many more.
I know that direct selling and networking is not easy? But, I never thought that it would be this hard. I started smoothly in direct selling. I had frequent customers who paid every 15th or 30th of the month. I had repeat sales too. It all went bad when I decided to put all the products together and hoard stocks.
After months of hibernating due to this failure, I have totally accepted my mistakes. I have pondered what went wrong and how to fix it. I still have debts, hopefully, I can pay all of them within the year, haha!
Most of my friends told me that I have to stand up from where I fell.I took it literally. I failed in direct selling once, I will succeed in direct selling this time. I have known the pros and cons of the business. I'm tougher, wiser and more determined to face it this time.
Last month, I joined the Royale Business Club Inc. This is another multi-level marketing firm which offers wellness and beauty products. I believe in the products. As a matter of fact, we use the supplements at home. The difference that I see in Royal from any other companies is the cost of the products. These are cheaper and effective. The marketing plan is superb at the same time. The franchise opportunities that they offer made me more excited to do the business.
I have learned a lot from my previous experiences in direct selling or MLM. The following are my ways to improve in this craft and become successful:
1) Since I already have the passion to sell, I have to put more effort and focus to do the business;
2) I should know everything about the firm and the products. I should be able to answer all the queries of my prospects. A well-spoken business presentation would mean a close deal.
3) Since this is an MLM biz, I should always practice the Rule of Three's in referrals - Families, Friends and Foes.
4) I should be more cautious in looking for my network. My group should be helping one another. I have to look for someone who can be like me.
5) Lastly, I should deal with the business in cash basis. I can't afford to add more to my debts as of the moment, :)
In the next posts, I will be sharing with you the products, the techniques and some ideas which could help you build your own MLM business.
I failed in choosing the best people to be a member of my network. I failed to differentiate the good payers from the best debtors. As a result, I had more debts than my expected good income.
I failed in disposing all my stocks. I failed to return the replaced items. As a result, I still have mountains of apparels, shoes, cosmetics, fragrances and many more.
I know that direct selling and networking is not easy? But, I never thought that it would be this hard. I started smoothly in direct selling. I had frequent customers who paid every 15th or 30th of the month. I had repeat sales too. It all went bad when I decided to put all the products together and hoard stocks.
After months of hibernating due to this failure, I have totally accepted my mistakes. I have pondered what went wrong and how to fix it. I still have debts, hopefully, I can pay all of them within the year, haha!
Most of my friends told me that I have to stand up from where I fell.I took it literally. I failed in direct selling once, I will succeed in direct selling this time. I have known the pros and cons of the business. I'm tougher, wiser and more determined to face it this time.
Last month, I joined the Royale Business Club Inc. This is another multi-level marketing firm which offers wellness and beauty products. I believe in the products. As a matter of fact, we use the supplements at home. The difference that I see in Royal from any other companies is the cost of the products. These are cheaper and effective. The marketing plan is superb at the same time. The franchise opportunities that they offer made me more excited to do the business.
I have learned a lot from my previous experiences in direct selling or MLM. The following are my ways to improve in this craft and become successful:
1) Since I already have the passion to sell, I have to put more effort and focus to do the business;
2) I should know everything about the firm and the products. I should be able to answer all the queries of my prospects. A well-spoken business presentation would mean a close deal.
3) Since this is an MLM biz, I should always practice the Rule of Three's in referrals - Families, Friends and Foes.
4) I should be more cautious in looking for my network. My group should be helping one another. I have to look for someone who can be like me.
5) Lastly, I should deal with the business in cash basis. I can't afford to add more to my debts as of the moment, :)
In the next posts, I will be sharing with you the products, the techniques and some ideas which could help you build your own MLM business.
The history of direct selling began in an individual's basic need to exchange goods and to communicate.It started on an ancient tradition wherein people relied on their instincts and common sense to make a living through selling.
The selling methods started in the before Christ era and continued up to the present, the 21st century. Direct selling provide opportunities for many who had encountered barriers because of age, education or sex. In the latest trends, the Internet is an essential element of direct selling. It offers to direct seller a worldwide customer base.
Their are many legitimate direct selling companies nowadays. Various industries, which include food, clothing and accessories , cosmetics and home care items and health supplements, sell their products using the principle of direct selling.
In my opinion, this business has been the most stable among any other businesses.It gives committed direct sellers a way to improve their quality of life, reach specific earnings objectives, facilitate social contact and sell the products they love. If you want a secured financial freedom, it's time to get involved with direct selling. A small amount of capital is needed, hassle-free inventory and you don't need to employ anybody. Yet, you still got the chance to earn tremendously... the secret?, COMMITMENT and HARDWORK!
More updates to come, so stay tuned!
The selling methods started in the before Christ era and continued up to the present, the 21st century. Direct selling provide opportunities for many who had encountered barriers because of age, education or sex. In the latest trends, the Internet is an essential element of direct selling. It offers to direct seller a worldwide customer base.
Their are many legitimate direct selling companies nowadays. Various industries, which include food, clothing and accessories , cosmetics and home care items and health supplements, sell their products using the principle of direct selling.
In my opinion, this business has been the most stable among any other businesses.It gives committed direct sellers a way to improve their quality of life, reach specific earnings objectives, facilitate social contact and sell the products they love. If you want a secured financial freedom, it's time to get involved with direct selling. A small amount of capital is needed, hassle-free inventory and you don't need to employ anybody. Yet, you still got the chance to earn tremendously... the secret?, COMMITMENT and HARDWORK!
More updates to come, so stay tuned!
Leveraged Income
A leveraged income refers to income from activities that can deliver value to either one person at a time or to a large group of people at the same time.
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