MLM or Network Marketing is a business in which we don’t invest money but we invest time. The industry has created the most millionaires in the world. Network marketing is the future of business in the 21st century. In all good terms, it rightly has evolved. Beginning as a part-time job, direct selling has now a proper path in career-building opportunities.
Most Network Marketing Business Opportunities will require very little to no specialized upfront knowledge. Unlike some careers, you do not need any higher education at all. You can be male or female, of any religion, age, or handicap. It does not matter. You are never going to be told you do not have the qualifications or that you are overqualified.
The recent downfall in the economy has more and more people opting in for MLM businesses. Especially in developing countries, a lot of people are very interested in MLM and want to be a part of it. Because it allows you to be independent, a lot of people are attracted to this prospect. As long as you make sure that you know about the goods and services the company offers and are sure that it is not a scam, MLM business will grow huge soon, especially since the demand for good quality products is increasing and people are craving more independence in their careers more than ever before.
Network Marketing is on the verge of entering its golden phase and this is the best time than ever before to jump right into it if you haven’t yet. Many MLM companies successfully run in the Indian market. Most Network Marketing Companies work on the same concept which is consumer satisfaction. Customer satisfaction plays an important role in the growth of any MLM company.
Network Marketing business is a key factor for digital India or Startup India mission. Direct Selling entities need for implementation of guidelines at the state level and also need relaxation under Foreign Direct Investment (‘FDI’) policy. To promote Network Marketing business and direct selling Indian Govt approved a 100% FDI Policy. So we can say that the future of network marketing is very good in India and this sector will give lots of job opportunities. You can join any best direct marketing companies in India to start extra income.
The objective of MLM business should be to identify such individuals that need what you are offering. You should consider business ethics and there should not be any type of harassment of friends and relations as this has a great impact on important relationships. Some companies can produce good quality home business leads but such leads can be very expensive. Normally the conversion rates are usually low with the cold market due to which you are supposed to spend a good amount of money before you can get the benefits by creating a down line.
FUTURE OF MLM BUSINESS
The recent crash in the economy is one of the major reasons that more and more people are opting for MLM business. As far as developing countries like India are concerned, its people are open to the concept of MLM and want to be a part of it. The present scenario of the MLM in India looks to be promising.
As compared to other developing countries there is less acceptance of network marketing in India. One of the main reasons for this is that there have been many scams in India in the name of MLM. Many companies have run with the hard-earned money of people.
The worst part is that law implementation related to network marketing is lacking in India which makes the situation even worse. However, the fact is that if you are looking to venture into an MLM business in India you have a great future ahead.
Surprisingly it is not the MLM products, compensation plan, or the MLM company which plays an important role in the creation of the MLM business but it is the people.
The people, the prospects, and the distributors are considered to be the most important commodity in the MLM business. This is because we will always have a large number of products to market besides fantastic compensation plans but the fact is that it is the people that make the ultimate difference. The people are the currency of your MLM concept. It is good to know that the MLM business is free from a recession and it is attracting a large number of people who want to earn in multiple ways.
There are few points that you should consider For the Future in MLM Business.
1. Passive Income Opportunities:
Network marketing business will offer opportunities for its massive customer base to earn passive income and micro-entrepreneurship is promoted. It is estimated that around 5 million distributors are engaged in the MLM business to earn passive income.
2. Established Women Empowerment:
During the year 2013, it is estimated that it has employed around 3.4 million females as distributors of MLM business. Network Marketing business opens up the space for women empowerment and establishes a strong future for women to balance their time and work more effectively.
3. Opportunities for SMEs:
Direct selling companies come up with the launch of new products and depend on the SMEs to enhance the features of their products. This provides opportunities for SMEs. the companies invest in the right SMEs to promote their MLM business with the new products.
4. Enhanced Employment Generation:
As we have already seen that it provides passive income for the marketers, it also provides employment opportunities for a large number of people. Most of the time MLM companies interact with various vendors to accomplish operations like packaging and distribution.
5. Initiated Social Responsibilities:
Network marketing companies are outstanding in supporting social responsibilities. The projects carried out by some significant MLM companies play a crucial role in resolving the social impacts.
For example, Amway’s Sunrise project and Avon’s Breast Cancer crusade.
6. Contribution to the Government Sector:
Since the MLM companies generate a huge tax to the government. It helps in improving the Indian economy with its huge revenue. During the year 2013, the tax generated was around INR 10 billion. It also contributes to direct and indirect tax.