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RESONANT LEADERSHIPSTRIKING A CHORD, BUILDING

CONNECTED TEAMS

TUNE UP TO THE PITCH

Richard E BoyatzisWHAT’S YOUR RESONANCE QUOTIENT?

Adam Mendler

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I N D I A N M A N A G E M E N T S E P T E M B E R 2 0 1 8 47

Force multiplier

Living in this world of network marketing for more than a decade now, I strongly believe it is one of the most democratic, socially uplifting, and economically sustainable ways to be an entrepreneur

and fulfil one’s dreams. The most incredible virtue of network marketing is its foundational principle that you cannot grow big without helping your partners grow big. Your only job in this business is to help other people fulfil their dreams. Also called direct selling or personal franchising, it has been in existence across the globe for more than eight decades now. Incidentally, some people outside the industry have different opinions about it, but those are far from the truth.

Catalyst for entrepreneurship explosionEntrepreneurship is in the air right now and a lot of people want to be entrepreneurs. The government is also promoting it aggressively through various schemes and projects. Despite such initiatives, many still hesitate to take the plunge. Reasons include risk involved, lack of capital, lack of right training, lack of

entrepreneurship mindset, and lack of right mentorship. The good news is that anyone can build a successful network marketing enterprise without having any of the above. It is an easy, doable, and proven route to entrepreneurship for each and every person due to the following unique features: low investment and no risk no need for any office, stocks, working capital,

and staff. no need to leave existing profession, job,

or business training and mentorship available at every step equal opportunity for all—people of any age,

gender, financial background, education level, place of residence (village, town or city) can do it.

flexibility to work from home and to choose own working hours

improvement in selling ability and interpersonal communication

development of leadership and teamwork abilities

all taxation benefits of a business zero entry and exit cost low gestation period allowing you to earn

while you learn

MARKETING

Network marketing offers ample opportunities for those who aspire to be entrepreneurs, but its full potential is yet to be unleashed in India.

DEEPAK BAJAJ, AUTHOR, BE A NETWORK MARKETING MILLIONAIRE

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Retail sales in direct selling in India could reach `64,500 crore by 2025 and provide self-employment opportunities to 1.8 crore Indians.

History and global scenarioIt started somewhere in the 1930s in the US, and gradually spread across the globe because of its values and benefits. As per the FICCI Report (Dec 05, 2017) Ease of Doing Business in India, “the global direct selling industry generated retail sales

of $18,356 crore in 2016 and provided part-time employment to 10.7 crore direct sellers worldwide.” The top ten direct selling markets are the US, China, Japan, Korea, Brazil, Germany, Mexico, France, Malaysia, and the UK.

Indian scenarioDirect selling has been practised in India for hundreds of years but the modern format of direct selling/network marketing started in India around the mid-1980s. The industry kept growing at a steady pace, but several illegal pyramid schemes also mushroomed to get the benefit of a growing industry, which brought it a bad name.

In the last few years, several industry bodies and government agencies have worked to create a positive environment and a robust regulatory framework for massive growth of this industry in India. The government issued guidelines for direct selling in India in 2016 and the industry has got a big boost since then. A recent report by FICCI-KPMG projected that retail sales in direct selling in India could reach R64,500 crore by 2025 and provide self-employment opportunities to 1.8 crore Indians, 60 per cent of which are women.

Contribution to government projectsAs per a KPMG & FICCI report, Direct 2016-The contribution of direct selling to building India, this industry has already started contributing significantly towards major government projects like Make in India, Startup India, Skill India, Digital India, and women empowerment.

A golden period for the network marketing industry in India is starting now and the industry is ready with huge opportunities for everyone.

The challenges Despite this industry offering such incredible benefits, why do many people shy away from this? The bad image this industry has got due to

wrong selling by a few, and to some illegitimate companies duping people of their money

Since investment is very low, many people do not take it up seriously and do not stay committed to it

Lack of right mentorship Lack of adequate training. People in different

network marketing companies are doing it in their own ways through trial and errors. Till recently, there were not many books or courses that taught principles and strategies to build this business in the right way.

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The leadership ability, communication skills, public-speaking skills, personality transformation, and team dynamics this business can teach anyone is unmatchable.

Network marketing is a wonderful opportunity for anyone who wants to be an entrepreneur. It is a low investment and zero risk opportunity with great mentorship and a training and development system that empowers people with the right knowledge, skills, and mindset.

If you intend to start a network marketing business, then take care of the following: Choose the right company with these four

key components: Excellent track record and experienced

management Value for money products Simple and sustainable income model that

rewards performance Professional training and development system

Be patient. It is a business and it will take time It is a daily business. Be committed to work for

it everyday Be a student and learn the right techniques and

strategies of the business Work with the right mentors. It is most

important to work with people who have proved what they claimBoth of us recommend a part time network

marketing business as another means of getting leadership training. – Donald Trump and Robert T Kiyosaki

Yes, this business can give you big income, time freedom, passive income, security for generations to come, and freedom to be your own boss. But I highly recommend that everyone should do this business for 2 to 5 years along with whatever they are doing because of the life-changing education it provides. The leadership ability, communication skills, public-speaking skills, personality transformation, and team dynamics this business can teach anyone is unmatchable.

Deepak Bajaj is founder, Multipliers, and author, Be a Network Marketing Millionaire.

ABOUT THE AUTHOR

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