The newest and one of the most exciting trends in business today, is Multi Level Marketing or Network Marketing. Make no mistake about it- this is not a fad, nor is it an illegal pyramid or chain letter scheme. It is a big business offering more opportunity for wealth to more people than any other form of business. There are some 800,000 millionaires in the United States today and thirty five percent of them made their fortune in the last ten years in Multilevel Marketing.
Multilevel marketing (also known as MLM) has finally gained respectability, not only in the West, but also in a major portion of the developing countries, including a rapidly burgeoning economic giant like India. It is being taught in Harvard Business School, and both Stanford Research and the Wall Street Journal have stated that between 65% and 85% of all goods and services will be sold through multilevel methods by the end of the first decade of the 21st century. This is a multibillion dollar industry. The “grand-daddy” of MLM, Amway, declared over a billion dollars of sales, as early as 1980 and a relative newcomer, Mary Kay Cosmetics grossed over six hundred million in 1982.
Almost every product you can buy in a store can be bought through MLM, or will be available soon. This includes vitamins, diet foods, aloe vera products, cosmetics and cleaning supplies, which are among the most popular MLM lines. You can also buy books, magazines, art work, purses, luggage, clothing, stationery and many types of foods. The list goes on and on and the numbers grow almost daily. More millionaires have been created in the last two and a half decades through MLM than any other form of business.
In India, as well, companies like Amway, Eezeebiz, Modicare, Conybio, Free India Concepts (FIC), Pioneer, and Oriflame, Herbalife, Right Concept of Marketing (RCM) to name a few out of more than 2,000 MLM companies that ventured, minted multi billions. The period between 1998 and 2006 has been the heyday for MLM in India. During this period, many Indian companies created a niche for themselves in the world of MLM, and a sizeable number of them registered gargantuan proportions of success and multi bucks.
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