Paul Zane Pilzer -- Creating Fortunes in the New Economy
Network Marketing (or MLM) has been a controversial subject for decades. The like of aggressive selling tactics, pestering friends and families, and pyramid and ponzi schemes which are all illegal, have all made a bad name on the industry. These things are unprofessional and have to be condemned.
However, as with most things, network marketing (or MLM) has gone through the test of time and has come to a more matured being. The industry is now regulated (by the Direct Selling Association) worldwide, with representations in different countries. The industry has been growing rapidly more so in the recent years. It is an industry which consists of over 50 million people working part-time or full-time. More and more people are crossing the line from other professions such as doctors, accountants, consultants, engineers, teachers, dentists, I.T. people, etc. These people have created a different landscape in the industry, more so in professionalism and sophistication. It is a credible business.
Network marketing (or MLM)’s significance in our economy has never been undermined despite the few shortcomings and bad apples. It can stand the test of time because it is by far the most viable choice for an average person to succeed in wealth creation.
No wonder Paul Zane Pilzer, the best-selling author on economic trends, predicts that in the ten years from 2006 to 2016, just America alone would witness an additional ten million millionaires from this industry. The history is in the making. Would you like to be part of it? Would you like your children to be part of it?
If network marketing (or MLM) is going to be such a significant force in our economy, it is a pity to see people miss out just because they have dismissed the name “network marketing (or MLM)” on first impression.
Knowledge is powerful and awareness is important. I would like to touch on some points of understanding on the subject in the next few posts. As people in the industry, we have every responsibility to make network marketing (or MLM) a respectable profession as it truly deserves.
Live Life, Junius
p.s. the picture shown here is part of the article by Paul Zane Pilzer titled “Creating Fortunes in the New Economy“. Highly recommended reading. Just click on the link.
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Credibility is at stake everywhere. The financial crisis is hitting hard because there is a serious lack of confidence and trust in the system. What is a capital guarantee for if the guarantor could be bankrupt? Which corporation can we trust if even the big names like Lehman Brothers and Citibank can turn out to be so vulnerable? What about the likes of Bernard Madoff who could turn out to be a bag of lies? Or that letter of credit that cannot be honored? Or that milk powder which turned out to contain melamine?
When the pendulum is tilted too much to the one side, people will favor things that bring back the equilibrium. When credibility is at stake, you will see more things to restore credibility, and that in itself is an opportunity.
The core value of Network Marketing (or MLM) is credibility. It is through word-of-mouth or referrals. Why should I believe in what you say? ….because I know you, and I take you as one that I can trust. This connection is important.
Besides, network marketers are themselves “product of the product”. In other words, they are users of the products they promote. This adds credibility.
There is also an element of knowledge transfer in the process, or “intellectual distribution” as Paul Zane Pilzer put it. For instance, if you are looking for a multivitamin, you would likely get more relevant and in-depth information from the network marketing (MLM) connection than the salesperson over the selling counter. The value of enhanced knowledge means that the average consumers are better able to select the choice of product that fits their needs.
When a consumer is so happy about the product that he/she doesn’t mind spreading the words around, it could mean the start of a lucrative passive income business. But, that is another story.
Live Life, Junius.
p.s. With Christmas and the New Year just round the corner, my best wishes go to everyone of you and your family for a joyous and safe festive season, and a solid progress in 2009.
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