The Network Marketing business, also known as Multilevel Marketing or Direct Selling business, is a consumer-friendly business model well-established globally. It enables consumers easy access to quality goods and services. Direct Selling allows individuals to work flexibly and gain professionalism with minimal investment costs, contributing significantly to the Indian economy and the exchequer. With several initiatives taken by the Government to boost the industry and the recent drafting of regulations and guidelines to protect consumer and investor interests, India is set to be the optimum platform for the Direct Selling industry to grow.
Ease of Doing Business – A World Bank Report that Compares Businesses Worldwide
Recently the slogan, Ease of Doing Business, was very much in the news. So, what is Ease of Doing Business all about? It is a report published by the World Bank comparing business regulations in 190 economies and ranks them. The parameters that were considered for publishing the Ease of Doing Business 2020 included the below case studies:
- Regulatory reforms in starting a business, obtaining credit, paying taxes, and resolving insolvency.
- Collaborating with the government.
- Employing workers.
It is heartening to note that in the year gone by, India climbed 17 notches and was ranked at the 63rd position. The report will help the Direct Selling Industry analyze the implications of the Government’s reforms taken for the Indian Direct Selling Industry. It will enable the Direct Selling Industry that provides self-employment opportunities to millions to recommend steps further to ease business in reaching its full potential.
What Makes Network Marketing an Easy-to-Do Business?
Network Marketing business is easy to own and operate. It is especially appealing to those with high energy and decent sales skills. You can easily own and build a profitable business with a negligible investment. Direct Selling gives you the flexibility to work during convenient hours and from wherever you want – yes, even from the comforts of your home! The Network Marketing business incorporates the MLM model that enables you to involve friends, family, or colleagues to benefit you.
As the name suggests, Network Marketing is about creating your network – the larger the network of contacts you build, the more products you can sell and the more profits you make. Direct Selling companies may incorporate the Single-Tier, Two-Tier, or Multilevel-Tier MLM models as part of their business strategy. It is for you to ensure which compensation best suits you, and accordingly, you should choose your company. Several reasons make Network Marketing an easy and attractive business to operate, and some of them are listed below.
- Negligible infra and operational costs.
- Low-risk high-income potential business.
- Easy to set up, convenient way to attain financial freedom.
- Association with unique and innovative products.
- Rewards are directly proportional to your efforts.
- Advancements in technology and affordable internet makes it easier.
Are you planning you start your own business? Network Marketing is an addition to the already existing list of career options. Network Marketing does not have any joining criteria; it does not require any hi-fi qualification or previous experience. All you need is a passion for sales and the zest to meet new people and make friends. Network Marketing is a business you can easily start is boosted and legitimized by the Government.
Network Marketing – A Legitimate Business Boosted & Regulated by the Government
Some people make a lot of money through Network Marketing, while others falter. However, your financial gains are always going to be your dedicated efforts. Network Marketing is a legitimate business but, you need to beware of collaborating with companies operating as MLM ones but incorporating the illegal Pyramid scheme. The Government of India has boosted the Direct Selling Industry with several initiatives; at the same time, it has recently drafted regulations that protect the interests of investors and consumers. You should verify the company’s credentials and background to partner and ensure that it complies with the government rules and regulations. Once you do your groundwork well, you are laying the foundation for a successful journey in Network Marketing. All the best.
