Rene Liaw – Global Wealth Trade Top Earner Interview
Rene Liaw from Toronto, Canada is Global Wealth Trade's youngest millionaire and lives both in Canada as in Taiwan.
He walked away from a $80,000 corporate check as IBM employee and TELUS senior programmer to build full time his MLM team. He is married to Heidi Tsao and they have 2 children.
Rene and Heidi have build a team of 5,000+ all over Canada, USA, Taiwan, Hong Kong, Australia, Europe, Philippines, and more.
Ted Nuyten had the honor to interview Rene Liaw.
Rene, how did you got involved into the MLM Industry, who invited you and why did you accepted the invite?
I got involved into the MLM Industry while I was studying at the University of Toronto, St. George Campus (Software Engineering) by my sister. My sister was an honour student and so whatever she wanted to show me, I was always open minded. I immediately loved the concept of MLM and thought what an amazing system for one to build residual income and have their own business.
Who have been your mentors?
I have been with 2 previous MLM companies before Global Wealth Trade and I never had any mentors in those companies. I just attended their big conferences and trainings. In the first company I was with, my sister and I had asked the company to find us a mentor and someone did call us back.
However, we were told from this mentor that because we were so far down in his organization, and because we had too many other equally ranked people in between us and him, that he couldn't afford to work with us.
It wasn't until we joined Global Wealth Trade that my sister and I were personally mentored by the CEO himself, a self-made millionaire whose created 13 other millionaires in the industry, also known as the Forensic Networker, and featured on the front cover of the American Business Journal, Ramin Mesgarlou.
Ramin Mesgarlou has forever been my mentor and it was because of him, I was able to surpass the million dollar earning mark just after 4 years in the business. Ramin Mesgarlou taught me such a vast sea of knowledge regarding MLM that had a I known the things he taught me, I never would have joined those previous MLM companies.
Why are you succesfull, what is your secret, persistency?
The term successful has many different interpretations. In my definition of being successful in MLM is having been able to build up a residual income, that is not only in the 5 figures per month, but also stable. In my past 10 years of MLM, I have met hundreds of people who claim to be successful, yet they are still jumping from one company to the next, and to the next leaving thousands and thousands of casualties.
You see, people join MLM for the dream of working hard 5 years, and taking off the next 50 and living off the residual income. However, with the huge competition in the MLM arena today and low product profit margins, in combination with ranks in the compensation plan, many MLM leaders have no choice but to jump from one company to the next.
In summary, my secret to my success was learning from the right mentor, and learning how to choose a right company to build with. I often hear how you have to have passion in the products or service to succeed and I highly disagree with this theory. MLM is about helping people and so everyone would be passionate about that and join any MLM that exists. I believe in finding a right company with all the right ingredients for success.
Global Wealth Trade Fashion Show 2013
These include a high retention ratio, a plan that pays to infinity, a plan with no ranks, a plan that requires you only to build 2 legs and not more, a plan that offers you the highest earning potential without having to qualify, and a product that people want and not need, a product line that continues to grow and gets people excited.
Global Wealth Trade is the first company in the world with a Free Flowing Variable Binary Plan, as well as the only company in the world (not just MLM), that has Plangsten, 19K, and 21K Gold, a company that has a want product (FERI, POSH by FERI, and FERI MOSH), a company that competes with no one, a company that has so many third party media accolades to give that credibility, and a company where people get more and more excited as they launch more and more products year after year, a company with the revolutionizing IA program, and a company that pays you a large residual income with small numbers of people.
You have reached $1 million in earnings in 4 years with a rather small team. How come?
One of the most key teachings I learned from my mentor Ramin Mesgarlou was what he terms the E/D ratio, the Earning Per Distributor Ratio. What this basically is, is how many dollars do you get paid in passive income per person in your team on their monthly autoship, or in our case, the revolutionizing IA program. The average when it comes to MLM companies is 1:1.
So to earn a passive residual income of $10,000 per month based on autoships, you would need 10,000 people. And most people can never get there. Sure, companies have bonuses but bonuses are only good once and you constantly have to qualify again and again. With other MLM companies, the ED ratio is even worse at 1:(1/3). So to earn $10,000 a month of residual income, you would need over 30,000 people. And I've personally looked at numerous amounts of companies and compared their compensation plan and I've put all my research on www.ourgwt.com under Compensation Plan Comparisons.
I've also recorded a training that teaches people to watch out for the industries pitfalls in compensation plans here which has shocked thousands of people once they watch it realizing what they were in before. See compensation plan pitfalls
So what makes GWT different? Our E/D Ratio is over 8 times the best. Our E/D Ratio is on average 1:10 so to earn $10,000 a month residual income, you only need 1000 people.
Is there a cultural difference between building a network marketing business in the USA and Asia?
Another key teaching I learned from my mentor Ramin Mesgarlou was having a product that was pre-approved in every country across the globe. Some of the issues in my previous MLM's and current MLM's is that I could not build internationally in any country I wished too. With GWT, the products are pre-approved.
Having reached $20,000/month income with my team mostly in Canada, the team themselves started to diversify into different countries around the globe. With our second child on the way, and my wife originating from Taiwan, we wished to have our second child born in Taiwan and to allow her parents to experience the joy as mine did here in Canada. At the same time, I had a big dream to open up GWT in Taiwan and then spent almost 2 years opening up that market as well as others such as Hong Kong.
There definitely is a HUGE cultural difference between Canada/USA and Asia. I almost felt like Asia was a few years ahead of where USA is, and even a few years further ahead of Canada. MLM companies like to establish large office fronts to show credibility where for the same size office space, they are paying a a fraction of the dollar. Where as in North America, you don't see large offices for distributors because it would not be profitable.
What I mean by this is that MLM is even more popular in Asia but that doesn't necessarily mean good things for the people. The unfortunate trend that I saw while I was in Asia is that there are at least 10 times if not more competition of new MLM companies opening on a weekly basis. I recall being in my independently run office for GWT and I had other MLM's knocking on my door trying to sell me the next best MLM. At the same time, people are generally more open minded for looking at new opportunities because the income levels are much lower there… everyone is looking for an opportunity. Sadly, with the immense population density and size in countries from Asia, it just means more and more casualties being left on the field.
Is there something you do not like in the MLM industry or would like to improve?
The MLM industry, or the concept rather is a perfect concept. However, we all know that the MLM industry is based on having products as the back bone of the company but the most enticing aspect of MLM is the income one can earn. One of the grievances I have with the MLM industry is lack of experienced new-age trainers. I recall the training line if it's consumable, it's residual and I still here people saying that today and it's completely frustrating. It's frustrating because I know that they just heard that from someone else without really having thought it through. That line should be changed to if it's consumable, it's residual… ONLY IF no one else is selling similar products. With the thousands competitors and the average retention ratio of 6%, residual is the last thing consumables are.
And speaking of qualified trainers, it seems like anyone who just got a big cheque, whether it was by luck of sponsoring two people in a binary system, are now qualified trainers. I've met many so called trainers in MLM and yet when I ask them about their success, there is none to be found. The only trainers that should be training in MLM are the ones that have made it and are still making it today. Think about that for one second. Why would you want to learn from someone who made their millions but isn't still making it? That means that what they were doing was not life-long residual income which is what everyone wants. So why would you want to learn from someone who wasn't able to attain what you are seeking?
Another big grievance I have with the industry is how MLM leaders are getting paid to join new companies and bring over their downlines. It seems like the new trend in MLM profession is to join a new company, bring over your existing team, milk it for 1-2 years, and then go off to the next latest and greatest opportunity. It's almost as if people now expect to get a deal. This only works for a select few individuals and those are usually the ones you see holding the big cheques while there are millions of casualties. And to take this one step further, it creates a false sense of achievement to the field because people think these top earners got there starting from scratch where in reality, these top earners received some sort of incentive. Whether that incentive is a cash deal, a higher position, a highly placed rank without having to qualify, or a combination of them all.
It makes me proud to say that I joined GWT as the very bottom of the free flowing binary system and worked my way up in incomes.
Do you have a tip for a Newbiein MLM?
Absolutely. Watch the videos on Compensation Plan Pitfalls and Product Pitfalls. The compensation plan of any company is essential to you being able to forecast your earnings and retirement plan! A bad compensation plan can have you working for years without breaking through to the big incomes. A product that has too many competitors can leave you with a horrible retention ratio and unstable income. All that can be seen here. The Compensation Plan Pitfalls video is what I learned from my mentor Ramin Mesgarlou and the Product Pitfalls is a training delivered by Ramin Mesgarlou himself. Please enjoy and learn what you need to know before you choose your next MLM company!
Contact Details Rene Liaw:
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