COFFEE TALK: COLLAPSE OF THE INDONESIAN MARKET
Updated: Jan 28, 2021
Using this particular write-up, I will tell you about the complications that we initially faced in Indonesia. The market was decimated by leaders who were unqualified and those involved with the money game companies.
In 2001, DXN was doing profitable business in India and Indonesia. The economy in Indonesia stabilized, and many companies started establishing themselves in that country. Most of them being MLM companies. The first few companies were the money game companies. Their only objective was to earn quick bucks and leave the market. I was astonished by the way our members were hooked onto their money-making schemes.
We were a well-established company when others didn’t even have farms and factories. They even claimed to produce our products, and few of our members believed them. I always ask myself, “How come they never checked their farm and factory?”. As many of our members jumped ship, I realized that most of them are not trained well enough to sell our products. They were not equipped with marketing skills and never learned how to manage their career. Due to our top-notch management, we managed to persuade people to join DXN. We had two powerful marketing staff at the time.
The leaders did not have much to do, and our members were doubling and tripling their bonuses. Success got to their heads, and they never cared much for the sacrifices made by the company. They eventually got gluttonous and joined the competitors to triple their current bonus. Though DXN was the highest bonus payout company, they still jumped ship. These companies cannot afford to pay handsome dividends and remain sustainable simultaneously.
Another thing that confused me was when our competitors accused our company of being frauds and did as much defamation as they could, why did our leaders not have faith in us? Our competitors presented themselves in a very professional manner. They used to drive posh cars and wear nice clothes. This was appealing to the market and its members. At DXN, we strive towards sustainability. Our competitors are not here for the long run. They look for an opportunity to earn quick money and disassemble themselves later on.
We had professionals working in our marketing department. However, other companies started recruiting them with lucrative offers. One man couldn’t handle the pressure that entailed an MLM job and went back to help his family business. After rumors were spread about DXN, our leaders started ganging up and questioning us. They spoke about our company in a derogatory manner and cast doubt over our operations.
Eventually, the market declined, and we were facing a grave situation. At our peak, we were welcoming around 50,000 members in a month. That reduced to 30,000 and 10,000 to finally 1,000. The market collapsed. From Indonesia's failure, we started recruiting leaders and trained them to become motivators rather than employing motivators. We have the best leaders in the market at present.