You probably already noticed the number of network marketing MLM companies on the internet today. This indicates the increasing relevance of this type of business in the current market. MLM is the next generation business which is going to expand and develop as any other new invention. There is always a resistance to change; this resistance is experienced in any new change that comes in right from the time of Galileo. This is the same resistance that MLM / Network marketing is experiencing at the moment. I would say MLM is the best way to make a secondary source of income. I bet you would have thought of choosing the best one to make money today and to create a long term residual income and even passive income.
There are many important criteria to consider when choosing one of MLM companies to build your business with and it is important to know at least the critical ones. With the country in the midst of an economic crisis, or just recovering, more and more people are looking at the alternative ways to make extra money or to replace lost income.
The internet is predominant with network marketing companies and opportunities and it is difficult to choose the best one. Starting from the basic criteria, the
FIRST one is the product or service of network marketing company you will be promoting and selling. A company that doesn’t talk of product or services is not a genuine Network Marketing company and would not help you to achieve your goal. You have far more chances to succeed in your business if the product or service is unique and new, as competition is quite tough in the market place. Having new and unique product or service would eliminate part of the competition and consumer would be more interested in what you have to offer.
SECOND is to look at the company profile - debt free or financially solid. This is important as you want to make sure that the business you build is going to be around for a while and is sustainable so that you continue getting passive income for the rest of your life. Look at companies that are in the market for long years, and performing better every year.
THIRD very important feature of a good network marketing company is that there are leaders in the business who will be able to guide you as you are building your business and getting your feet wet. There should be a good education system that will help you learn the new skills. Many companies also offer training seminars and classes, this can also be a great way to learn from people who have been successful in the business.
FOUR: If you are looking to build a really big business, look for a company that offers a global opportunity. While there are hundreds of network marketing companies available, many of them fail after a little while if they have not been designed to offer a global market. Today’s marketplace is worldwide and your chances of success are that much greater with a global opportunity.
FIVE : The compensation plan should be lucrative. It should not be illogical as well. Check how much money will you be making from the start? Will you be getting bonus trips? Will you build a strong residual income long term? Is passive income opportunity lucrative enough? The income you earn should be growing as you perform in the business.
Many of the network marketing opportunities that are available are very thinly disguised get rich quick schemes. Because of this most of us fear at the sound of Network marketing. Start to distinguish between genuine ones. The presence of these replicas does not bring down the power of a genuine MLM. There are replicas of products available which are available in the market, do we not go and buy the product again if we see it is genuine. Many of the MLM’s are also bona fide, legitimate and lucrative network marketing companies.
You will have to keep in mind that network marketing or MLM is not a get rich quick scheme. You must be prepared to work consistently at your business to experience results. With consistent work and a bit of time, you may well be able to earn income while you sleep.
Would you like to join a good company and a team that already has all the needed support for you? It is never too late to change your life and create financial freedom, so, don’t delay, ACT TODAY! Need more information please mail me on buslegitimate@gmail.com
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Wednesday, November 3, 2010
Tuesday, November 2, 2010
Effective business networking
Effective business networking is the connecting together individuals who, through trust and relationship building, become part and parcel of one organisation. Networking is prevalent in any walk of life. We work for an organisation which is a network that the CEO of the organisation has built. Most people fear the work network as they relate this as chain marketing. Network marketing is the future business endeavour. This will be like much other business which spurt and flourished in this world. When the web was first developed people objected it and started talking of its risk and safety concerns. Now we see that every one is hooked to the web, web has become an essential part of our life.
Network marketing is a genuine business opportunity that requires some discipline to become successful. Few tips that are required to expand your business in network marketing is as follows.
Network marketing is a genuine business opportunity that requires some discipline to become successful. Few tips that are required to expand your business in network marketing is as follows.
1. Networking is about being genuine and authentic, building trust and relationships, and seeing how you can help others.
2. Think about what you are willing to achieve in joining the network, so that you will pick groups that will help you get what you are looking for. There are various kinds of meetings, based more on learning, making contacts, and/or volunteering rather than on strictly making business connections.
3. Check out as many groups as possible that spark your interest. Notice the tone and attitude of the group. Check how comfortable you are in the group. Do the people sound supportive of one another? Does the leadership appear capable?
4. Try to be an approachable person for your organisation. This is a great way to stay visible and give back to groups that have helped you.
5. Talk your doubts! Ask. Ask question that needs an explanation. Speak out all your doubts. This is a sharing and teaching business if you are not clear you cannot teach or help others.
6. Be a powerful resource for others. When you are known as a strong resource, people will turn to you for suggestions, ideas, names of other people, etc. This keeps you visible to them.
7. Understand what you are doing, when to do and to whom. Try to do things differently
8. Follow up quickly and efficiently on referrals given to you. When people give you referrals, your actions are a reflection on them. Respect and honour that and your referrals will grow.
9. Have faith in yourself and submit to your mentor in the business.
10. Every skill can be learnt, be confident you can do it better than others
There are various organisations which have been very successful in this field. If you want to know more contact buslegitimate@gmail.com
Wednesday, October 20, 2010
Multilevel Marketing Vs Pyramid Schemes
Multi-level marketing (MLM) is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit, creating a down line of distributors and a hierarchy of multiple levels of compensation. Other terms for MLM include network marketing, direct selling, and referral marketing.
The products and company are supposed to be marketed directly to consumers and potential business partners by means of relationship referrals and word of mouth marketing. People usually see this genuine business model in connection with the pyramid schemes that are very common in the market.
The products and company are supposed to be marketed directly to consumers and potential business partners by means of relationship referrals and word of mouth marketing. People usually see this genuine business model in connection with the pyramid schemes that are very common in the market.
A pyramid scheme is a non-sustainable business model that involves promising participant’s payment primarily for enrolling other people into the scheme, rather than from any real investment or sale of products or services to the public. Pyramid schemes are a form of fraud.
Lets distinguish this first before we go ahead with the concept of network marketing.
Prospect of Network Marketing
Network Marketing is not some fad but a scientific, organized, proven way of doing business worldwide. Some of the facts about Network Marketing (from US):
Over the last six to eight years the Network Marketing industry as a whole has grown worldwide. The reason for this phenomenon is simple, there are more people looking either to supplement or replace their income. There are more opportunity seekers in a recessionary period due to the uncertainty of their present financial situation. They will need alternatives and for the first time they will be open to opportunities presented to them via Network Marketing
This being the case, it is exactly why the Network Marketing Industry has grown well during down economies. That is why now is an ideal time for start-up companies to launch their ventures. There are vast amounts of people that will be drawn to this industry in the next few years. These will be individuals that have yet to consider this industry.
Over the years the buying / producing habits of the general populous has formed and shaped economies and even complete societies from the dawn of time.
Certainly e-commerce is still a powerful tool for buying and selling and is a channel of distributing products and service that can not be ignored.
This is where Network Marketing comes in. It has been said that never before has there been two industries better suited for each other than Network Marketing and Internet e-Commerce. It is that of combining the high tech tools and convenience of e-Commerce with the high touch service of the person-to-person industry of Network Marketing .
What is Network Marketing . Network Marketing is only a method of distribution of goods or services from the manufacturer to the end user. Network Marketing is a method of direct selling. The other selling method in direct selling is single level marketing or SLM. In Network Marketing you have an opportunity to develop a marketing Network from which you will earn commission on the sales of multiple level of representatives. IN traditional form of distribution the manufacture gives it to the Super Stockiest, who in turn gives it to the distributor who passes it on the retailer. Each one on the way before it reaches your hand takes a commission; to this add the advertising budget. The total of all this is roughly 60% of the MRP and in some cases even more. What happens in NETWORK MARKETING is that since there is no Stockiest , distributor or retailer and since it is word of mouth marketing there is no advertising budget, that 60% budget gets distributed amongst the individual distributors or Networkers.
Over decades Network Marketing has proven to be a very powerful way to distribute goods and services in the US and Europe. In the 1940’s a company called Californian Vitamins first allowed its direct sales people to also recruit other sales people for a commission on their recruits sales. They created an NETWORK MARKETING direct sales company. Two of the top salesmen then created the Amway Corporation. Direct sales in the 70’s due to some unscrupulous companies were attacked in the courts. Amway, fought and won, in 1979, thereby proving that NETWORK MARKETING was a legally justifiable form of business.
“You (direct sales) strengthen our country and economy, by offering opportunity to others. I’ve followed your industry’s growth for years now. Your industry gives people a chance, after all, to make the most of their lives and, to me that is the heart of the American dream” Bill Clinton.
However, in India, Network Marketing is still at a nascent stage. But, it is expanding at a phenomenal growth rate. The concept, which took roots around 6 years back, India, due to its population and largest independent consumer market in the world, is the most attractive proposition for Network Marketing , provided that it is customized to suit Indian culture as well as requirement. To grab a bigger pie of this lucrative market reputed MNC companies have entered the Indian market since 1998. It is believed that more than 50 lakh consumers are involved in the industry locally, and the number is getting multiplied at the rate of 5000 people a day. Industry observers, who are highly optimistic about the growth of this industry, estimate the size of the industry to cross US $ 1,000-billion mark by the year 2010.
For India, it will be a boon for the people in our country, which faces tremendous levels of unemployment and business opportunity for the middle class. It is the best and the safest method to create an additional income in the house without having to give up the present form of creating income.
However, at this point in India the Network Marketing industry is facing problems from unscrupulous operators who are giving genuine Network Marketing companies a bad name. It is only a matter of time that Govt of India will set norms for any one who intends to run a Network Marketing company in our Country. There are many companies who have masked money chains, which are illegal in our country, as a Network Marketing company.
To clear a few misconcepts of the Network Marketing Industry. A lot of people believe that it is only the people at the top who earn a lot of money or it’s the people who have joined early make the money. This is not so. In a genuine Network Marketing Company it does not matter who you join or when you join, you have the same opportunity as anyone above you or anyone who has joined way before you to make as much money or even more then them. It all depends on you effort, your ability to understand the dynamics of Network Marketing and your ability to create leaders below you. All this things can be learnt if you have the determination to succeed.
Another misconception amongst people about Network Marketing companies is that only new companies begin with Network Marketing as a method of distribution. This is far from the truth; take the example of HLL in our country a company that has over 10,000 crs in turnover to have decided to enter into Network Marketing. This should lay to rest all doubts in your mind about the power and legitimacy of this form of business. A large amount of Fortune 500 companies produce goods for Network Marketing companies, only proving that Network Marketing companies also focus on quality of their products.
To understand Network Marketing from the Indian perspective and its future we need to first understand Network Marketing from the world perspective. The total turnover in the Network Marketing
industry worldwide was 80 billion dollars and over 50 million people were involved in the industry in the year 1999. This figure will touch over a 120 billion and 100 million people in the next 4 yrs. Chart I gives a graphical illustration at the industry across the globe.
The figures on India were in 1999. As of today the rough estimate of companies is around 20 with over a million people involved in the industry and creating a turnover or close to 300 million dollars. Lets now consider the future of NETWORK MARKETING in our country.
By referring to the chart the number of people in the industry in various countries and the turnover generated you will observe that roughly 3% of the population of those countries are involved in NETWORK MARKETING . For India to reach 3% of its population it would mean 30 million people even if we take 3% of middle class which roughly 350 million peoples it means over 10 million people will be involved in NETWORK MARKETING which is 10 times the present amount of people involved in the industry. Which should also lead to a 10 times increase in the turnover which will be close to 3 billion dollars or roughly 14,000 crs. Over 50 % will be the payout, which means over 7000 crs, will be distributed amongst the networkers in our country.
Imagine the boon it will be for the people in our country, which faces tremendous levels of unemployment and business opportunity for the middle class?
It is the best and the safest method to create an additional income in the house without having to give up the present form of creating income.
Today we all are looking at various ways to create an addition source of income. Let us examine some of the ways we can achieve this. Firstly if one does have some money, which is rare, the few options one has are, fixed deposits in the bank. What does one get today on that 6 %, as much as the inflation rate.
- Started in 1941 in USA and has evolved into an industry world over.
- Network Marketing is well entrenched in over 80 countries.
- Many NM companies exhibit rapid growth in Annual Turnover [20% to 300%].
- Network Marketing is 80 bn. Dollar Industry Worldwide.
- 5000 Active Network Marketing companies in 1995.
- The number expected to touch 30000 in 2010.
Over the last six to eight years the Network Marketing industry as a whole has grown worldwide. The reason for this phenomenon is simple, there are more people looking either to supplement or replace their income. There are more opportunity seekers in a recessionary period due to the uncertainty of their present financial situation. They will need alternatives and for the first time they will be open to opportunities presented to them via Network Marketing
This being the case, it is exactly why the Network Marketing Industry has grown well during down economies. That is why now is an ideal time for start-up companies to launch their ventures. There are vast amounts of people that will be drawn to this industry in the next few years. These will be individuals that have yet to consider this industry.
Over the years the buying / producing habits of the general populous has formed and shaped economies and even complete societies from the dawn of time.
Certainly e-commerce is still a powerful tool for buying and selling and is a channel of distributing products and service that can not be ignored.
This is where Network Marketing comes in. It has been said that never before has there been two industries better suited for each other than Network Marketing and Internet e-Commerce. It is that of combining the high tech tools and convenience of e-Commerce with the high touch service of the person-to-person industry of Network Marketing .
There is much available in the way of technology, which is affordable and extremely powerful, providing a major element to the success of a new Network Marketing launch.
Over decades Network Marketing has proven to be a very powerful way to distribute goods and services in the US and Europe. In the 1940’s a company called Californian Vitamins first allowed its direct sales people to also recruit other sales people for a commission on their recruits sales. They created an NETWORK MARKETING direct sales company. Two of the top salesmen then created the Amway Corporation. Direct sales in the 70’s due to some unscrupulous companies were attacked in the courts. Amway, fought and won, in 1979, thereby proving that NETWORK MARKETING was a legally justifiable form of business.
“You (direct sales) strengthen our country and economy, by offering opportunity to others. I’ve followed your industry’s growth for years now. Your industry gives people a chance, after all, to make the most of their lives and, to me that is the heart of the American dream” Bill Clinton.
However, in India, Network Marketing is still at a nascent stage. But, it is expanding at a phenomenal growth rate. The concept, which took roots around 6 years back, India, due to its population and largest independent consumer market in the world, is the most attractive proposition for Network Marketing , provided that it is customized to suit Indian culture as well as requirement. To grab a bigger pie of this lucrative market reputed MNC companies have entered the Indian market since 1998. It is believed that more than 50 lakh consumers are involved in the industry locally, and the number is getting multiplied at the rate of 5000 people a day. Industry observers, who are highly optimistic about the growth of this industry, estimate the size of the industry to cross US $ 1,000-billion mark by the year 2010.
For India, it will be a boon for the people in our country, which faces tremendous levels of unemployment and business opportunity for the middle class. It is the best and the safest method to create an additional income in the house without having to give up the present form of creating income.
However, at this point in India the Network Marketing industry is facing problems from unscrupulous operators who are giving genuine Network Marketing companies a bad name. It is only a matter of time that Govt of India will set norms for any one who intends to run a Network Marketing company in our Country. There are many companies who have masked money chains, which are illegal in our country, as a Network Marketing company.
To clear a few misconcepts of the Network Marketing Industry. A lot of people believe that it is only the people at the top who earn a lot of money or it’s the people who have joined early make the money. This is not so. In a genuine Network Marketing Company it does not matter who you join or when you join, you have the same opportunity as anyone above you or anyone who has joined way before you to make as much money or even more then them. It all depends on you effort, your ability to understand the dynamics of Network Marketing and your ability to create leaders below you. All this things can be learnt if you have the determination to succeed.
Another misconception amongst people about Network Marketing companies is that only new companies begin with Network Marketing as a method of distribution. This is far from the truth; take the example of HLL in our country a company that has over 10,000 crs in turnover to have decided to enter into Network Marketing. This should lay to rest all doubts in your mind about the power and legitimacy of this form of business. A large amount of Fortune 500 companies produce goods for Network Marketing companies, only proving that Network Marketing companies also focus on quality of their products.
To understand Network Marketing from the Indian perspective and its future we need to first understand Network Marketing from the world perspective. The total turnover in the Network Marketing
industry worldwide was 80 billion dollars and over 50 million people were involved in the industry in the year 1999. This figure will touch over a 120 billion and 100 million people in the next 4 yrs. Chart I gives a graphical illustration at the industry across the globe.
CHART I
| No | Country | Population | People | % of | No. of | Turnover |
| Involved in Network Marketing | Total Population | Companies | ||||
| 1 | USA | 270 million | 10.3 million | 3.8 | 500 | $24.83 billion |
| 2 | UK | 56 million | 424,000 | 0.75 | 100 | 1.8 billion Euros |
| 3 | France | 58 million | 200,000 | 0.35 | 40 | 4.1 billion Euros |
| 4 | Germany | 83 million | 455,000 | 0.54 | 150 | 4.2 billion Euros |
| 5 | Italy | 58 million | 260,000 | 0.15 | 30 | 2.2 billion Euros |
| 6 | Australia | 18.8 million | 650,000 | 3.4 | 150 | $1.2 billion |
| 7 | Canada | 31 million | 1.3 million | 4.19 | 200 | $ 1.6 billion |
| 8 | Portugal | 9.9 million | 26,000 | 0.26 | 20 | 72 million Euros |
| 9 | Spain | 40 million | 114,000 | 0.285 | 30 | 1.15 billion Euros |
| 10 | Russia | 146 million | 529,000 | 0.36 | 100 | 156 million euros |
| 11 | S Korea | 45 million | 1.6 million | 3.55 | 100 | $2.08 billion |
| 12 | Japan | 125 million | 2.5 million | 2 | 200 | $30 billion |
| 13 | Indonesia | 216 million | 3.9 million | 1.8 | unknown | $250 million aprx |
| 14 | Malaysia | 22 million | 2 million | 9 | 600+ | $1.2 billion |
| 15 | Singapore | 3.5 million | 15000 | 11 | $54 million | |
| 16 | Hong Kong | 6.8 million | 77000 | 1.1 | 7 | $112 million |
| 17 | Philippines | 80 million | 1 million | 1.25 | unknown | $172 million |
| 18 | Taiwan | 22 million | 2.7 million | 12.2 | 100+ | $1.2 billion |
| 19 | Thailand | 60 million | 3 million | 5 | unknown | $400 million |
| 20 | India | 1000 million | 700,000 | 0.7 | 10 | $190 million |
By referring to the chart the number of people in the industry in various countries and the turnover generated you will observe that roughly 3% of the population of those countries are involved in NETWORK MARKETING . For India to reach 3% of its population it would mean 30 million people even if we take 3% of middle class which roughly 350 million peoples it means over 10 million people will be involved in NETWORK MARKETING which is 10 times the present amount of people involved in the industry. Which should also lead to a 10 times increase in the turnover which will be close to 3 billion dollars or roughly 14,000 crs. Over 50 % will be the payout, which means over 7000 crs, will be distributed amongst the networkers in our country.
Imagine the boon it will be for the people in our country, which faces tremendous levels of unemployment and business opportunity for the middle class?
It is the best and the safest method to create an additional income in the house without having to give up the present form of creating income.
Today we all are looking at various ways to create an addition source of income. Let us examine some of the ways we can achieve this. Firstly if one does have some money, which is rare, the few options one has are, fixed deposits in the bank. What does one get today on that 6 %, as much as the inflation rate.
So there is a notional rise but not in real value. Stock market, have not met anyone who has retired rich from the stock market, some are dead, Harsad Mehta, some in jail, the rest have lost more than gained. Traditional business or even better Franchising. Today franchising is quite a safe form of Business practice but that requires some capital investment to begin with. While MLM require very little capital.
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