With network selling companies such as Amway, Tupperware and Oriflame, to name a few, making their foray into the Indian market, you can look at supplementing your income from the comfort of your own house.
What is MLM?
Network selling or multi-level marketing (MLM) operates on the principle of supplying goods produced by an organisation directly to the consumer. As a result, the profit margins get channelised towards the seller who creates the largest network.
What You Will Need
* People / contacts to recruit into your network.
* Ability to convince and recruit people to sell the product.
* Money to invest in a start-up kit, which varies depending on the nature of the product or service. Additional expenses could be incurred for the training programme and travelling involved.
* Time to attend the various training programmes and seminars organised from time to time. Also, time and effort in retailing products and signing up new recruits.
Investment and Material
Network sellers provide start-up business kits that range between Rs. 2,000 to Rs. 5,000. Most companies also provide training material and CDs as well.
Remuneration
Profitability depends on the nature of the product or service and the numbers you achieve in networking and distributing the product. Most companies have levels of distribution with a fixed profit percentage at each level.
Qualification and Experience
You do not need any formal educational certification or experience for a career in MLM. Your flair to sell any product and orientation training provided by the company should be sufficient to equip you.
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Getting Started
Join as a recruit with an existing member. You can also market the product by networking directly with network marketing companies.
Play It Safe
Check the integrity of the company. How long has it been around? Learn about its products. Beware of claims that cannot be verified easily. Visit the company's website before investing money.
Profitability depends on the need for the product. Is there a market demand for the product to be distributed?
How will you get products? Will they be delivered to you? If you need to collect the products yourself, find out where closest warehouse is. This could add to your travel expense.
Offer products and services that can be used daily and consistently.
Make Your Business a Success
* Be accountable and responsible to your business as you would be to a full-time job.
* Since your success depends on retailing and recruiting, you need to 'think individual'. So, stick around, think big and think innovative!
* When recruiting people, be truthful about the profit you make. Your profitability will help them in making a decision to join the network.
* Do not forcefully market your product to immediate family and friends. Instead, focus on catering to the need of the consumer.
(Dipali Oberoi Bhasin is a guest columnist. The ideas and views expressed in this piece are her own.)
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