Speak Asia's victory and future of Network Marketing

Dear BizBasket Viewers,

Everyone must have come to know about the relief which honorable Supreme Court of India has given to SAOL and its 20 Lakh panelist. This and the coming judgement in this high profile case is going to be a landmark in the history of Network Marketing in India. we thought of publishing an article on the potential and future of Network Marketing in our country.

Network Marketing is not some fad but a scientific, organized, proven way of doing business worldwide.

Some of the facts about Network Marketing :

• Started in 1941 in USA and has evolved into an industry world over.
• Network Marketing is well entrenched in over 80 countries.
• Many NM companies exhibit rapid growth in Annual Turnover [20% to 300%].
• As per Indian Direct Selling Association (IDSA), at INR 4,120 crores (US$915 million) for FY09–10, the industry displayed a robust 24% growth over the previous year (2009)
• Major players in the market believe that India, with its large population and increasing per capita income, presents an attractive opportunity for companies to expand their footprint.
• more than INR409 crores (US$90 million) paid as taxes in year 2009-10.

Following are the new trends in the direct selling business :

Micro trends:

(a) Recruitment will increase rapidly since current demand is to increase the earning capacity;

(b) All member companies are launching new products this year;

(c) All companies are expanding going to have new distribution centres to reach their customers quickly and the focus would be rural India.

Macro trends: Legitimization, authenticity, range of products, prevention of fly by night operators, growing support from the Indian and global Industry at large and requisite attention from the Government and policy makers.

Qualifications of a successful Networker:

Although the Network Marketing does not require any specific qualification, successful Networkers are known to have exceptional:

Selling skills

Presentation skills

Motivation skills

Leadership skills

A basic understanding of finance

However, two key factors critical for success are:

Focus, commitment and hard work

Faith in the direct selling profession and the industry.

Friends ! after the honorable Supreme Court gives a go ahead in the SAOL case the business is going to blast. Now its the time to go back to your respective network teams and gear up for the business restart. We wish all Speak Asians very bright financial future.