Do you know? Network Marketing is passive income ideas that have huge potential. If you believe in networking then this is the right business model for you.
Even, World’s Richest Man “Bill Gates,” said in an interview:
If I would be given a chance to start all over again, I would choose Network Marketing
I think you are smart enough to know the power of network marketing. However, If you are students and looking for a flexible business to work in part-time then you should dive into Network marketing. This is something that anyone can start without money.
Let’s understand everything in details here:
- 1 What is Network Marketing?
- 1.1 Network Marketing Compensation Plan:
- 1.2 Future Scope of Network Marketing In India:
- 1.3 Top 10 Benefits of Network Marketing:
- 1.4 How to start MLM Business in India?
- 2 Wrapping up!
What is Network Marketing?
This is a networking business model which is also known as Multi-Level Marketing. In this business, independent contractors join the company and for each sale, they get a fix commission. To grow in business, they make a pyramid network of people who work on behalf of a distributor and they remunerated for performing specific tasks.
- Make a direct sale or by their network people.
- Recruiting members in the team by upfront joining fee.
In simple words, This business model works like a pyramid structure. Whenever the person himself or below them in the network make any sale then they get paid.
Network marketing is high paying Business Ideas which you can start as low as an investment. Some network marketing business is tier based to make up a distribution network for goods and services. The strategy behind network marketing involves lead generation, Recruiting, and management to make money for business growth.
In two-tier or multi-tier network marketing business an agent (Distributor) create a network of salespeople in the level. Network creator (Upline) makes a commission when people (Downline) in their network make any sales. It’s also called direct selling method.
Network Marketing is known by several names such as Pyramid Selling, Referral Marketing, Consumer direct marketing (CDM) etc. All MML follow a plan which I’ll tell ahead in this post. Every MLM have different compensation plans which are as:
Network Marketing Compensation Plan:
There are many compensation plans but here I’m telling you some popular schemes that major MLM companies follow. Before joining any MLM companies check their compensation plan firstly. These are top 3 plans which used in Network Marketing.
Generation Plan: This is the most profitable and high potential MLM earning plans. In this plan, you earn maximum commission from the upper level. As you go deep down level your earning will decrease. There are total 16 levels but actually, there are only 4 generations. This is one of the oldest, safest, easy to execute and manage.
Matrix Plan: This is one of the popular and primary compensation plans in MLM businesses. Matrix plan is also known as a ladder and forced matrix plan. You can sponsor people with a limited number of downline. Example- This plan is work like (W x H). Most popular matrix plans are 3×5, 4×7 and 3×9. If you exceed the limit then it will spillover automatically and your downline will get benefited.
Binary Plan: In this plan, you have to sponsor only 2 people in your team one is in left and one on right and those will recruit other 2 anon… on… There is no level limit. This is also called (2xN). If a recruiter hires more than 2 members on the first level then it will automatically be added in the next member’s power leg which is called Spillover.
Future Scope of Network Marketing In India:
No doubt, There are an endless opportunity and high demanding future scope of network marketing in India 2019. You can build this business with a very low investment if you are ready to work with link-minded people. Of course, it takes time, energy and effort to build a business. You can start in your spare time and when it seems growing then take it seriously. Network marketing(MLM) business is already popular in developed countries like USA, UK, and Canada etc. In the 21st century, this is one of the high demanding businesses where people can build their fortune. A right time to get into!
You can say it’s a future business of the 21st century. In the last 5 years, we have seen a spike and an emerging source of income with high success growth in MLM businesses.
In India, people see it as a scam but gradually now, people mentality are changing regarding Network Marketing (MLM) businesses. The potential growth is huge in respect to other online businesses. Those people who are into online marketing knows the power of MLM. Now, Perception is changing and people are getting involved and taking it as a serious business. The mentality of Indian’s still stereotypes. I believe everything starts from you/me if we want to change something so, don’t listen to them just do.
A report by ASSOCHAM said that in India Direct selling business has doubled from 2011 to 2016 is Rs. 12620 crores. The expected grow will reach 15930 Crores INR in 2021.
I have seen so many people who have created million dollar empire just from network marketing in a very short span of time. If you are ready to build your own fortune then no business is better than Network marketing. As you know, It takes time and dedication to achieve goals. If you are motivated and want to jump into MLM then start now ASAP.
Top 10 Benefits of Network Marketing:
There are lots of advantages to starting network marketing (MLM) businesses. Here are a few of them which you can consider if you are getting to start or wants to start.
1. Work for yourself, not someone else:
One of the best thing about this business you are working for yourself rather than someone else. If you are currently working then you are just receiving paychecks when someone is building their fortune but unfortunately, it’s not you.
This is my favorite quotes by Tony Gaskins that will inspire you also.
If you don’t build your dream someone will hire you to help build theirs
Why you are working for someone else if you can build your own dream. They are getting rich and you are helping them to build their fortune. It’s time to do for yourself.
2. Exponential growth in business:
In jobs, there is no scope for such growth. On an average, Pay rises are 2% currently but at the same time inflation rate increases 10% each year. You can multiply your income twice easily with this business and the best things slowly you are building a fortune.
3. Financial freedom:
Best part, you get financial freedom by owning your own business. You don’t need to be there all the time there is a system that works for you. In the jobs, only you can earn when you are working means “selling time for money”. If you stop working then your earning will also stop but in owning a business your earning will continue either you are working or not. Get retired early in comparison to jobs without worrying about money.
4. Luxurious Lifestyle:
Having business like network marketing will reward your luxurious lifestyle. The biggest benefits of network marketing are personality development that you learn. You meet new people every day and gives exposure in life and it helps to create a rich mentality.
5. Recommended by successful businessman or entrepreneurs:
All the successful entrepreneurs or business people have recommended Network Marketing (MLM) business. Some of them are Bill Gates, Donald Trump, Richard Branson, Robert Kiyosaki, T Harv Eker and many more. Now, the choice is yours.
How to start MLM Business in India?
To start an (MLM) Network Marketing Businesses in India, you need to register your company. To know more you can consult company secretary for terms and guideline that you need to be followed. Decide your products or services that you are going to launch and the compensation plans (which I discussed above) that suits your business strategy. Get ready your files and documentation which will require during registration.
Now, it’s up to you. I told you everything about network marketing. This is the best business especially if you are working professionals, MoM, Student and job seeker. Just spend a few hours in a day and build your own fortune. Hope every doubt has cleared and still any question then feel free to ask via comment. I would love to help you and you learned something then please do a share and subscribe. Keep visiting and earning!