Is direct sales and network marketing really boosting your revenue or potentially compromising your brand?
Revenue can be a risky situation. Right off the bat I know this might be a touchy subject matter for some entrepreneurs simply because direct sales and network marketing (DSNM) is a fundamental form of entrepreneurship.
However after extensive research on the topic, Im left to determine whether DSNM is the best decision for my business and me. As an entrepreneur in the health and fitness industry, I keep an open mind for opportunities to expand my business as well as boost revenue. Therefore, I was eager to explore the world of this $30 billion dollar industry.
DSNM simply means offering products directly to a customer away from a fixed retail location.
Direct sales, independent distributors, sales representatives or consultants market their products in a variety of ways, including one-on-ones, home parties and the Internet. Most direct sales firms are multi-level marketing companies (MLMs).
Some examples include:
- Mary Kay, and Isagenix
My introduction to DSNM started six months ago when a Juice Plus distributor contacted me through a LinkedIn College Alumni group.
We connected and after speaking with her, I was intrigued and wanted to learn more. So I began to investigate the DSNM industry as a whole. My ears and eyes were open.
Could it be too good to be true?
Since then various DSNM distributers approached me through Facebook, LinkedIn, Alumni Associations, Professional organizations, church community as well as the local grocery store.
I started feeling like a MLM magnet! Herbalife, Beachbody, Mary Kay, LifeVantage and Genesis Pure all extended generous invitations to become distributors for their company. Although I was somewhat flattered by the attention, I was much more cautious on proceeding with anyones offer.
Through my research, I discovered the nutritional supplement group or more commonly known as Vitamins, Minerals and Supplement (VMS) was one of the fastest growing industries in the world.
This industry produced about $32 billion in revenue for just nutritional supplements alone in 2012 and is projected to double that by topping $60 billion in 2021 according to the Nutritional Business Journal. With these types of robust statistics why would I not consider expanding my health coaching business to include similar products through DSNM?
It seemed a logical fit.
Was DSNM really a logical fit for my business that I just overlooked?
Would endorsing and distributing a product help increase my health coaching & personal training service sales?
It was time to revisit the Q Movements business plan. I was confident a quick refresher would certainly clear up and confirm the right path for me. As I read through the Executive Summary I was reminded Q Movements was established to increase health and wellness through my services and not someone elses product.
There was my answer.
Although its feasible DSNM products are viable for helping support the mission of Q Movements, I strongly believe Q Movements needs and deserves my total attention to reach its full potential.
Next- My brand as a health coach and personal trainer: