Nu Skin
The Nu Skin Enterprises is a global MLM phenomenon with a mind-boggling total revenue figure. The company has already crossed the 1 billion dollar mark in terms of revenue in 2007 and is still going strong. It has over 4,300 employees today and is one of the top 25 MLM companies of the world.
The founders of the company, Nedra Dee Roney and Blake M. Roney, established this direct selling enterprise in 1984. It took them only 12 years to get listed on the NY Stock Exchange. Today, Blake M. Roney continues to be the Chairman of the enterprise while M. Truman Hunt, who has been the Chairman of the World Federation of Direct Selling Associations, is the President and CEO.
The concept of the company is that of selling health and wellness products. However, even within this large category, it has its own niche. The company has a product range that includes nutritional care products, cosmetics mainly, but it also has some other categories of products. Some of these products can be listed as fragrances, hair care products, mouthwashes, cleansers, moisturizers, toners, etc.
Being an MLM business, Nu Skin does provide opportunities for people who wish to establish their own home businesses. There is a good direct selling opportunity with Nu Skin for entrepreneurs who wish to set their foot into a business and grow. A direct selling opportunity allows people to earn in direct proportion to the number of sales that they conduct each month. In addition, there is also a possibility for them to build a network of marketers which would become their downline. For every sale that a person in the downline does, the sponsor earns a part of the commission. Hence, like any other MLM, the main intentions for someone with the Nu Skin opportunity too are to build a network under him or her and do as many direct sales as possible.
However, Nu Skin also suffers from the trappings of other MLM businesses. The compensation plan of the company is not as much about direct selling as it is about recruiting new people. Hence, it becomes important to bring in as many people into the network or the earnings won’t be high. Also, there is a feature in the plan that needs the marketer to put in $100 each month to get bonuses.
For the assiduous MLM businessperson, Nu Skin is as good as it gets. But for people who are trying to break into this mould, some thinking will be needed before taking the step.
Cheers, Devendra Patel (Home Business guru)
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Hello, I was reading something else about this on another blog. Interesting. Your perspective on it is diametrically contradicted to what I read earlier. I am still pondering over the opposite points of view, but I’m leaning to a great extent toward yours. And irrespective, that’s what is so great about modern-day democracy and the marketplace of ideas online.
Interesting article. Where did you got all the information from.Great article,nice site!
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