“Do you know, which industry produced the most millionaires??? Any guesses?”
“Not so surprisingly, it’s an MLM or Multi-Level Marketing Business. Many of us know it as a Networking business or direct selling industry. So if someone says that MLM business is not profitable, I’ll advise him to think twice,” says Business Strategist cum Business Astrologer Hirav Shah
Facts and Statistics of MLM Business
In 2018, the MLM business industry has generated $192.9 billion dollar revenue, worldwide. And do you know who the global leader is? It’s China which has generated $35.73 billion in annual retail sales. After that the USA has generated $35.35 billion. South Korea was in the third position with $18.04 billion in sales. According to Hirav Shah’s observations, the MLM industry produced approx ₹13,000 crores in FY 18-19.”
Leaders in MLM Business – The World and India
Hirav Shah says, “You may know that Amway is the global leader in the MLM business. After Amway there are Avon, Herbalife, Infinitus like companies are leading the market. Modicare is among the world’s top MLM companies that successfully run the business since 1996.”
Importance of this Information
He continues, “So why am I showing these facts and figures? This is a very common question that would come to everyone’s mind, reading my blog, or hearing my podcast..”
“Because I am about to advise you to consider your career as a Network Marketer. Are you Shocked? Most probably you’re not very enthusiastic about it.”
Career Options and Unemployment issues in India
Hirav Shah explains, “Because, in India, we don’t have very broad career options. Getting a good job is a miracle to an average Indian. Even after getting a job, you’ll face some issues. Like the job timing, getting paid once in a month, workload, etc., etc. Well if you’re a Govt employee, then I can’t say much. But if you are in the Private sector, then the most important issue is job satisfaction.”
“You know very much that employment is a core issue in today’s India. As per the Govt. of India around 3.1 crore jobless people in 2018. But the original numbers are quite high than what’s said by the Govt. So in the era of the employment crisis, what are the options left for you. You know it!! Don’t you?”
Advantages of MLM Business
Now let me show you what kind of benefit you’ll get if you choose your career in MLM business.
Low investment: In the referral business, you need to invest, obviously. But it’s not money, it’s time what you are about to provide. The risk is low compared to traditional business. In a traditional business model, you need a store at least. Buying a store, setting it up, investment in product purchase or manufacturing is required quite a good amount of money. And none can guarantee that you’ll succeed.
In the MLM business, you don’t need to invest that ton of money to get success. Some planning and time, some dedication can bring you success in this business. Even there is no operating cost in MLM business compared to the conventional business models.
If you are choosing a good MLM company that offers exceptional products, then it’ll be easy for you to sell them. There is a huge demand among people for high-quality products. Even people will come to you to buy your products.
Great Potential Income
In this business, there is no limit on how much you can earn. If you are into a job, you know how much you’re getting at the end of each month. But in the Networking business, you’ll be surprised to see the earnings. If you could build a good network, the earning result would amaze you.
You know how much freedom your corporate boss provides you when you’re doing a job for them. A lot of rules and regulations are there. There is a scheduled time to enter the office. But maybe there is no leave the same. Corporate sectors control each and every employee.
But the same thing doesn’t apply to you if you are into Network Business. You are free to do your business at your convenience. No reporting is required for anybody except for self-reporting. You’ll report to yourself. You can be able to lead your life as per your wish.
In this era of technology, getting everything is easy. Products are being delivered at your doorsteps. If you have a Smartphone and internet connection, you can connect to everyone on Earth and do your business. MLM Companies use Professional MLM Software to get data and reports.
You could be able to access every bit of info like – how many sales you’ve generated this month, how much sales are generated by your team, what is your next achievement and how close you’re from it. You can do your business when you are watching your favorite TV program at your home.
MLM has to be legal in India because these companies are creating jobs for the jobless and giving work to earn an extra income to those who earn peanuts. It will benefit millions of people in the years to come. They also help in skill improvement with their training programs.
Do’s and Don’ts of Multi-Level Marketing
- Ask questions – what is the individual either who is looking to use your product or looking to start a business looking for. What are THEIR needs and wants?
- Confirm their wants to make them feel as if you’re listening to them and comprehend what they are saying.
- Build a connection with them by finding things similar.
- Become a specialist in both the product and business. You don’t need to know every little thing about both but you should be able to make them feel as if you really know what you are talking about.
- Always mention advantages and not features. An advantage is something that, well, benefits them. Features are components and most people want to know the outcome, not how it works.
- Have posture and confidence but NOT arrogance.
- Show your business opportunity as an option to get ahead and as a specific thing they can do part-time to start. You don’t want them feeling as if your way is the ONE AND ONLY option.
- Don’t talk about yourself too much.
- Try to impress them. People care about themselves, not you.
- Don’t start promoting the product directly.
- Don’t mock other brands.
- Don’t make them feel as if they did something wrong. For example, the last product they used was a mistake and would never work.
- Don’t push them.
- Don’t come across as desperate.
- Don’t tell them what they are presently doing (meaning a job for example)is wrong or will never get them to where they want to go.
These are just some of the basics but will get you further. We all start network marketing full of fire and think we have the best product, business opportunity, and products man has ever created.
The fact is, our option or products are not for every person and we have to acknowledge that. You also have to remember that a “NO” can just be a “NOT NOW”.
Astro Strategist and Business Astrologer Hirav Shah concludes by saying, “Regardless of what kind of business you run; whether that be a Standard Retail Store or Multi-Level Marketing or a Network Marketing Company, marketing, and advertising is important to reach new prospects, boost sales, and expand your brand awareness.”
“There is a very bright future ahead in India for Network Marketing Business. Reports reveal that India may generate ₹64,500 crore revenue in Direct Selling Business. Be persistent, believe in yourself and the product and if you don’t, you might need to change providers. If you really don’t believe in your business, it will show and people will feel it a mile away.”
“I wish you all the success to be a part of it.”