Fast Company, a magazine for entrepreneurs, published the below infographic about the multiple revenue streams available on the internet. MLM had a large presence in the “Other” category. It got me thinking…
Based on what I’m seeing in the business, talking to prospective clients everyday, the network marketing model of distributing goods and services is on a tremendous growth curve. As the barriers to start a MLM are going down due to the ease of private labeling, low cost entry for software vendors and online marketing tools, countless people are saying “This is it. It’s my time.” The marketplace is starving for unique product…products with a story, products that say something about ourselves, products that add value. The demand for unique products has always been there; however, due to the high-cost nature of introducing products into the market, we sort of got generic, mass produced stuff. Times are changing. With next year’s infographic, I imagine the MLM circle will get a tad bigger.
Do you have any ideas you’d like to share about the “next big thing” in the direct sales space?
MLM revenue infographic
Digital services. Low cost and enough margin to support a compensation plan. Anyone can sell amazing vitamins and juices. This makes it that much harder for MLMs to make it long term selling those kinds of products….the margins erode fast and momentum slows down.