MLM (Multi Level Marketing) and Direct Selling fall under the bigger umbrella of Network Marketing - It is one of the most powerful home based business mediums today. However, the general public’s lack of understanding and the misconceived and tainted reputation of MLM often precede it because of several illegal pyramid schemes that have come about.
MLM and network marketing is a means to distribute products and services and is actually a huge, $100 million dollar industry. It evolved from the basic concept of a door-to-door salesman to what it is today and direct selling has never been the same. The Amway Safeguard Rule was what set the legal standard to ensure that the Federal Trade Commission rules are followed, in response to the pyramiding scheme outbreak of the 70’s and it also ensures the validity of the business opportunity through three important points. These points look into requirements such as the retail sale of the products and services to qualify for any recruiting commissions and /or sales, a mechanism in place to avoid over stocking of inventory without the intention of reselling and the opportunity for a buy back provision for unsold, undamaged and unopened inventory from the representatives who choose to leave.
With the above mentioned criterion in place, an MLM and direct sales fall into distinct sub categories under network marketing. Both are very accessible ways to start a legitimate home based business that can potentially start earning a substantial amount of income. It is also a flexible avenue to operate a business on a part time basis that has the potential to develop into a full-blown operation, which translates to more income. In addition to this, an MLM is usually very easy to set up and it requires minimal start-up capital and operating expenses.
Some experts have gone as far as saying that 10 million millionaires will arise through network marketing in a span of 10 years. Even then, records have also shown that home based businesses have an unusually high failure rate of 95%. Statistics have also shown that network marketing failures including those who are home based businesses, quit within the first ninety days. This contributes much to the failure rate. Although had they stuck it out with the passion and daringness, then the first ninety days can be treated as a learning period to build their business and continue on. Given this, thousands upon thousands still choose to put up their home based business everyday. This is because of the chance to hit and be part of the 5% success rate and into the very enticing millionaires’ circle.
Mon, 04/2/2012 - 01:56 AM | viewed 429 times
In February, 2012, Facebook held its 'fMC Conference' which introduced upcoming features and changes to the site, including Timeline for Pages. All of these changes impact the way an entrepreneur or smb can best utilize their Facebook presence to increase traffic, interact with fans, and ultimately, convert these fans into customers. Here we'll take a closer look at the changes to Facebook, how you can use the new features to your advantage as part of your business plan, and some helpful tips on creating a successful Facebook promotion.
Sat, 03/10/2012 - 05:35 PM | viewed 502 times
In the initial stages of a business startup, most entrepreneurs recognize that they'll need the expertise of an accountant at various times, but few realize that they'll no doubt need the help of another professional, an attorney. Their logic would be that they don't plan on breaking the law or getting sued, so legal services aren't necessary. The truth is quite the contrary, however.
Sun, 03/4/2012 - 01:54 PM | viewed 541 times
Now that you've developed a great startup concept, and you're in the business plan development stage, the time has arrived to come up with the right name for your new endeavor. There are a number of differing theories on what makes a great business name, but one thing is certain, choosing the right name can play a big part in how your business is perceived by your customers, and it can make or break your image.
Sat, 03/3/2012 - 12:55 PM | viewed 415 times
On average, roughly 600,000 Americans start new businesses each year. If you're one of the millions more contemplating taking that giant step into business ownership, don't let fear of the unknown stop you. Some of the stumbling blocks for would-be entrepreneurs include indecision about the right kind of business, a fear of putting their money and time into a business that fails, or they may simply have no idea where to start. Generating an idea for a small business isn't always easy, but with some good advice and common sense, you can learn how to choose a viable concept.
Thu, 03/1/2012 - 12:16 PM | viewed 627 times
If you're a small business owner or an entrepreneur involved in your first startup, you're well aware of the impact that successful Facebook marketing can have on your bottom line. Finding your way through the maze of available apps and tools is time-consuming, tedious work. If you're on the hunt for the latest and greatest ways to reach a larger audience and build your business, check out our recommended Facebook tools and apps that are specifically geared toward taking full advantage of your fan page.
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Leaders the world over including those at this week’s G8 Summit are calling for economic growth, not just budget tightening, in an effort to combat world market instability and speed recovery. But for all the talk in policy circles, this growth will ultimately come from the private sector and especially here in the U.S., from small to medium sized businesses that create many of the jobs and employ many of the workers already in our economy. Here’s a look at the economic growth G8 leaders are calling for and six things you can do to promote growth in your business today.
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After a week of sour trading, markets opened up Monday on a positive note as it seemed that headwinds had subsided for the moment. While major indexes appear to be find their footing, the newly debuted Facebook (FB) stock lost all momentum, sinking more than10% in early day trading, well below its IPO price. The focus for investors this week will fall outside of U.S. borders, as a number of international economies will be releasing key data points. One such economy that many will have under a microscope is the United Kingdom [see also 25 Things Every Financial Advisor Should Know About Commodities].
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Also sprach Analyst - World & China Economy, Global Finance, Real Estate
