Learnings from Story of Amway

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

1. Amway

2. Book

3. What is Amway? What is your perception of Amway? What is the full form of Amway? When it was started? How many countries they are in?

4. How it all started? Two people met for car pooling. Then went to fight war (WWII) Later started air charter service Drive-in restaurant Invested in a Ship and went for a cruise Got lost Got sunk

5. How it all started? Someone called with a business proposal to sell vitamin supplements of Nutrilite California based brand How to get well and stay well: a booklet they distributed

6. How it all started? A few successful sales later they did a “event”. In a basement of a small restaurant. 8 people turned up. 1 was already a distributor and didn’t work for him.

7. As they grew: They tried doing other businesses Like a rocking horse! (lost big time) Nutrilite business started suffering Concentrate on winner ! Don’t diffuse energy. In less than 12 years they bought over Nutrilite

8. Network: They had built a solid distribution network which was working smoothly Due to Nutrilite’ s production problems their network was suffering so they bought it. Then they focused on things which are easy to sell like soaps, beauty care apart from Vitamins Rule: Sell things any one can sell

9. A lot of business start everyday, the challenge is to persist and prosper. The premium in business is not fancy proclamation in morning but the quite statement of profit and loss at the end of the day

10. First products: LOC : liquid organic concentrate SA8: dry compound for laundry 150 items People use them daily. Husband and wife build the business together.

11. Sales volume 1960 : $5 lakh 1965 : $ 3.75 crore 1977: $ 37.5 crore

12. Pyramid Schemes : A lot of pyramid schemes came in 1975 and Amway employees helped govt draft law to ban Pyramid Schemes Even today people mistake Amway for a pyramid scheme

13. 3 Principles Recruit (as they call it sponsor) Train Motivate Does it sound fimilar ?

14. Some stories : Art Charlton: Very poor: not even food to eat. Went to Military service 17 years worked in heating oil, in snow and slurry One day will do a better business. Sold off oil business to buy a ice cream shop with all the savings they had

15. Disaster business $ 40 was per day requirement even when both of them worked Not a single day they got $ 40 in 6 month period After that he got into Amway: made enough money to retire

16. Stutter : Most embarrassing problem 2 Jokes: He couldn’t get any job, and jobs which required written tests, he would be removed after getting hired. In Navy he couldn’t report to senior which was a protocol

17. His income was less than his expenses Joined Amway (anybody who says yes) He made a lot of sales and “down line” Guess what: he got cured and he got rich

18. A Blind person : very intelligent, but not given important jobs: Joined Amway and attracted a lot of disabled people. A person with 7 children: does superb events A group of singers joined and then they do events for their prospects

19. Amway today: 80 countries 3 million people (30 lakh) 53 year old In 2010 paid out more commission than any other direct marketing company

20. Thanks