If you look around, you’ll see many businesses having a great fall or loss, many job opportunities being stolen, salaries being cut etc. Due to this unfortunate scenario, people are struggling and suffering a lot to find a stable job or to get settled in a business to earn well for a living. So, to solve all the issues, home-based business opportunities have started knocking the doors.
MLM, which is commonly known as Multi-level marketing, is a business which runs through network marketing, referral marketing, and direct selling. It is totally a non-conventional and non-traditional business which always have a room for more people. This kind of business is all about expanding your networks and will only get stronger when more and more people will join.
It is based on “Word of Mouth” marketing, i.e., every time when you refer or share about this business with anyone, you convincing power and the words you speak should attract the listener’s faith in you, so that he thinks about joining this business. The sales promoters are required to create a downline which looks like a pyramid. So, every time when anyone joins the business, they are added to the downline and the levels above become more profitable, hence, producing more profit. In this, the sales promoters are not just rewarded for the sales generated by them but also for the sales generated by the promoters in their downline, in the hierarchy.
MLM Companies operate in all sectors- health and nutrition, beauty products and skincare, crockery, cutlery and home appliances, among others. The best part about this business is that it keeps growing and there is no chance of falling. Every member earns a particular amount depending upon their sales and people in their downline. MLM benefits each employee in appropriate proportions in the pyramid and the ones who are on the top of the downline, definitely get intense earning opportunities. This business also allows you to earn unlimited income and it all depends on how wisely you invest your time, money and labour into it.
When you work in an MLM business, you automatically become an independent business person, a self-made man, and you unknowingly work a lot on shaping your personality. Your personality develops automatically when you communicate with people, speak in meetings, manage your downline, maintain decorum, generate leads, handle emails and website which improves your communicating skills, management skills, disciplines, consistency, focus, confidence etc.
You are your own boss and can decide when and where to work from. It is, again, a flexible business. The results and your income depend solely on how productively you devote your time to this business and set your targets. MLM has this great advantage of earning residual income continuously in the future, even if you aren’t that active. You do not require any qualification or any work experience to work in MLMs. It is open to all and any individual and be at the highest position if works well.
There are just a few things that you need to know before you begin working with MLMs. You should have an idea of the products and services offered by them, their costs, their marketing plan and it would be beneficial if you take some reviews from the people who are already working there and who actually use their products. It is a system of work ready, which means, the promoters can begin at any time after forming an action plan with their sponsor.
In the current scenario, MLM is quite popular for generating a lot of money with flexible working. There is a great buzz about it in the market. Again, this business requires low start-up cost, free training by the company, grasping advertising benefits etc. One can earn a lot by encouraging people to join and convincing them to buy a product. Currently, it is one of the fastest growing businesses among passionate, hardworking and dedicated people.
Something which needs to be taken care of while starting with this is to make sure that they are real, not any scam. There are MLMs which are profit making while others tend to be real scams. To beware of them, you need to do some serious research. You need to take reviews from people, consider their reliability and steadiness, products and services, staff assistance, market plan etc.
Over a period, the business of MLMs have been evolving and rising at a fast pace with the number of companies, their number of sales and sales promoters, a wide range of products and services, execution plan, great earning opportunity etc. Therefore, the concept of MLMs is gradually becoming very powerful and popular, attracting more and more people into it. The future of MLM will definitely have a lot to offer with much greater opportunities and scope.
Following are the top 5 MLM companies that are in the lead-
Amway
It is the first company which introduced the concept of direct selling in the 90s. It was discovered by Mr. Richard DeVos & Jay Van Andel in 1959 and is the biggest name in the field on MLMs.
Tupperware
It is the second largest direct selling MLM company after Amway which sells leak-proof plastic containers. It was started by Mr. Earl Silas Tupper in 1948. It is also stated under fortune 500 company.
Avon
It adopted direct marketing and started selling beauty products for women. It was established by Ms. Sher McCoy in 1886, U.S.A. It is again listed under fortune 500 company only for women,
Modicare
It is the first Indian company to introduce the concept of MLM in 1996 by Mr. Samir Modi. Today, it has a huge network of about 2.5 lakh members all over with a wide range of products.
Oriflame
Two brothers, Jonas of Jochnick and Robert of Jochnick founded this beauty product company in 1967. It is now a leading cosmetic brand and has a large network with a consistently good number of sales.
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Source: businessworld.in