There is a law made for regulating chit fund and money circulations in India which is “The Prize Chits And Money Circulation Schemes (Banning) Act, 1978”. There are various types of MLM plan in MLM business industry like Forced Matrix, Binary Plan, Australian Binary, Stair-Step Plan, Uni-Level Plan, Generation Plan, Board MLM Plan etc. Decide the products or services you want to sale and choose the best MLM compensation plan as per your business strategy. To start a new MLM company you need to register the company under the specific Act of your country law and follow the guidelines of the law and also discuss with your Company Secretary for certification and other formalities. Unfortunately, most people are unaware of the clear definition of this industry, and frequently confuse it with pyramid schemes recruiting people to earn money. Instead of spending money on traditional advertisements & other marketing methods, Direct Selling companies rewards their consumers turned distributors for their word of mouth advertisement effort. Contrary to common misconception, you are not paid to recruit people, you are paid depending on the total sales volume generated by your entire team.
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Direct Selling companies pay you when people buy their products and services from your recommendation.īut the awesomeness doesn’t stop there, you are given an option to build a team of distributors (generally consisting of happy consumers recommended by you and those you recommend and those they recommend and so on…). When these consumers or customers like their products and services, naturally they start sharing it with others. That is why it is called ‘Direct Selling’. Instead of using traditional distribution channel (manufacturer – distributor – wholesaler – retailer – consumer), Direct Selling companies sell their products and services directly to consumers. Why It Is Called Direct Sellingĭirect Selling is an alternate form of distributing products and services. This is also known as multi-level marketing, network marketing, matrix marketing, etc. Here the profits of the initial salesperson continuously increase as the chain grows on. The aim of salesman is just not to sell the product, but also to lure some more people to carry on the chain of selling the product further, and the chain goes on and on. this is a system of marketing in which a hierarchal pattern is followed where The sales promoters are organized in a pyramid structure. MLM (Multi-level marketing company) is a marketing promotional strategy in which a sales person sells the products or services for particular MLM business and recruits new sales promoters under his/ her downline to further sales of products and services.
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What is Multi-Level Marketing Company (MLM Company)? Basic MLM Guidelines by the Governments are as follows:.Government guidelines for MLM companies in India.What is Multi-Level Marketing Company (MLM Company)?.