Learnings from Story of Amway

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Amway

description

Its story behind Amway, as written in a book printed about 35 years ago!

Transcript of Learnings from Story of Amway

Page 1: Learnings from Story of Amway

Amway

Page 2: Learnings from Story of Amway

OBook

Page 3: Learnings from Story of Amway

What is Amway?

OWhat is your perception of Amway?

OWhat is the full form of Amway?

OWhen it was started?OHow many countries they

are in?

Page 4: Learnings from Story of Amway

How it all started?

OTwo people met for car pooling.OThen went to fight war (WWII)OLater started air charter serviceODrive-in restaurant OInvested in a Ship and went for a

cruiseOGot lost OGot sunk

Page 5: Learnings from Story of Amway

How it all started?

OSomeone called with a business proposal to sell vitamin supplements of Nutrilite

OCalifornia based brandOHow to get well and stay

well: a booklet they distributed

Page 6: Learnings from Story of Amway

How it all started?

OA few successful sales later they did a “event”.

OIn a basement of a small restaurant.

O8 people turned up.O1 was already a distributor

and didn’t work for him.

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As they grew:OThey tried doing other businessesOLike a rocking horse! (lost big time)ONutrilite business started sufferingOConcentrate on winner ! Don’t

diffuse energy.OIn less than 12 years they bought

over Nutrilite

Page 8: Learnings from Story of Amway

Network:OThey had built a solid

distribution network which was working smoothly

ODue to Nutrilite’ s production problems their network was suffering so they bought it.

OThen they focused on things which are easy to sell like soaps, beauty care apart from Vitamins

ORule: Sell things any one can sell

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OA lot of business start everyday, the challenge is to persist and prosper.

OThe premium in business is not fancy proclamation in morning but the quite statement of profit and loss at the end of the day

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First products:

OLOC : liquid organic concentrate

OSA8: dry compound for laundry150 itemsOPeople use them daily.OHusband and wife build the

business together.

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Sales volume

O1960 : $5 lakhO1965 : $ 3.75 croreO1977: $ 37.5 crore

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Pyramid Schemes : OA lot of pyramid

schemes came in 1975 and Amway employees helped govt draft law to ban Pyramid Schemes

OEven today people mistake Amway for a pyramid scheme

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3 PrinciplesO Recruit (as they call it sponsor)O TrainO Motivate

O Does it sound fimilar?

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Some stories :OArt Charlton: Very poor: not even

food to eat. OWent to Military serviceO17 years worked in heating oil, in

snow and slurry OOne day will do a better business.OSold off oil business to buy a ice

cream shop with all the savings they had

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ODisaster businessO$ 40 was per day

requirement even when both of them worked

ONot a single day they got $ 40 in 6 month period

OAfter that he got into Amway: made enough money to retire

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OStutter : OMost embarrassing problem O2 Jokes: OHe couldn’t get any job, and

jobs which required written tests, he would be removed after getting hired.

OIn Navy he couldn’t report to senior which was a protocol

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OHis income was less than his expenses

OJoined Amway (anybody who says yes)

OHe made a lot of sales and “down line”

OGuess what: he got cured and he got rich

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OA Blind person : very intelligent, but not given important jobs: Joined Amway and attracted a lot of disabled people.

OA person with 7 children: does superb events

OA group of singers joined and then they do events for their prospects

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Amway today:

O80 countries O3 million people (30 lakh)O53 year old OIn 2010 paid out more

commission than any other direct marketing company

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OThanks