Mr. Akram Hoque, the Founder, and Editor of The Policy Times was in an exclusive interview with Mr. Firose Khan, Founder & Chairman, Magnessa Enterprises Pvt Ltd for the latest series of ‘Global Innovators And Entrepreneurship’ Show. Global Innovator And Entrepreneurship Show is an initiative by The Policy Times and Unleashing India moderated by Mr. Akram Hoque & chaired and mentored by Dr. P. Sekhar, Chairman Unleashing India, Global Smart City Panel, MTGF.
Youtube link of the Interview: https://youtu.be/1iV46Qb5eao
The latest series was on “Empowering Nations Through Network Marketing and Social Entrepreneurship”. Mr. Khan is a well-known and acclaimed entrepreneur better known as Captain Khan for his contribution and expertise in this field. He is an MBA graduate and a Gold medalist in Commerce and Business Management with more than 15 years of experience in the direct selling industry and a certified experienced trainer. He represents Magnessa Enterprises Pvt Ltd which is a Direct Selling Company striving to promote ethical and scientific products in the field of nutritional health and wellness as well as to improve the inherent immunity and quality of life of their customers and distributors through a time tested marketing and pay plan.
- Hindi Version: नेटवर्किंग मार्केटिंग सामाजिक उद्यमिता को बढ़ावा देगी और राष्ट्रों को सशक्त बनाएगी, श्री फिरोज खान संस्थापक और अध्यक्ष मैग्नेसा एंटरप्राइजेज प्राइवेट लिमिटेड ने कहा
- Bengali Version: ইন্টারভিউ | গ্লোবাল ইনোভেটরস অ্যান্ড এন্ট্রেপ্রেনিউরশীপ বিষয়ে সাক্ষাৎকার দিলেন ম্যাগনেসা এন্টারপ্রাইজ প্রাইভেট লিমিটেডের প্রতিষ্ঠাতা ও চেয়ারম্যান ফিরোজ খান
Q – Captain Khan, please tell us a bit about yourself and your venture?
A- After college, I started my journey as a distributor of a network marketing company in 2001. Then several years later I left my job and established my own firm Magnessa Enterprises Pvt Ltd. It introduced a new world of naturally effective, one-of-a-kind wellness products to you, your home, and your family. Our business model is of a Multi-Level Marketing structure (M.L.M), where we sell our products directly to the customers. We believe in the TTT model, where 3Ts represent Test, Trust, and Tell about the Product. If the test result from a product is good and can be trusted, then only it is released in our network.
Q – You’ve been saying that direct selling or network marketing is one of the best ways to empower nations and promote social undefinition. Can you elaborate further on the same?
A – People entering this industry and most of them will come into this as short-timers because often people have the mindset of earning money in a shortcut way. However, there is no shortcut at all. Earlier network marketing was not legal in India. Even though Multi-Level Marketing is legal now there are lots of illegal MLMs in the market operating under the radar openly. This happens because there is no guideline now giving way to loopholes that invalidate the credibility of brands.
Q- Speaking further on the general mindset of earning easy money, can you provide your input for this tendency?
A – As mentioned before due to the absence of clear regulation of MLM there are lots of illegal businesses, products, brands, and frauds that are surfacing that generated a lot of prevailing distrust on this kind of operation. All the stakeholders from investors to the consumers seeing these scams and form certain prejudices and compare direct selling with scams. This has in a way hindered the infiltration of real talent and credibility in this field. People are unwilling to take a clear look and understand the logic behind the operation and the credibility of the brand they are working for. Very few of them research the brand, their product and understand the purpose behind the operation. Only five to ten percent of people are successful who give their best. This is the toughest industry in the world. If people come in the lure money without sufficient understanding of the brand or its credibility, they will fail miserably and blame the direct selling industry.
Q- How is Magnessa doing differently in the field of networking? What are the products, services, and areas that you are catering to, and what are their benefits?
A – Magnessa is moving towards a greater vision. We bring credible, trustworthy brands catering to great products in the field of nutritional health and wellness and to improve the inherent immunity and quality of life. These products are backed up by valid R&D as well as by successfully completed testimonials. Each product we bring forth has a story behind itself with users’ testimonials empowering their journey to global attention. There is no stronger credibility than word of mouth. Our products are mainly in the health and nutrition category striving to bring positive and strong change in the lives of the consumers.
Q- How do you plan to bring Magnessa to the world? What would be the future operational plan? and what is your message to your stakeholders from investors, consumers to policymakers?
A- Direct selling is the one and only of the best options to gather genuine, organic, valuable feedback of a brand, product, or service that creates a ripple effect to the intended audience. However, people participating in this industry must research, understand the credibility of the brand and propagate their message clearly. Direct selling actually has a lot of potentials to incubate entrepreneurship in the country. There is no need for any investment and this is not a scheme or a scam this is purely business, if they put in the effort they will win in this life in this race. Magnessa Enterprises Pvt Ltd. intends to promote direct selling and some of the great products to our audience.
My message to the stakeholders in the direct selling ecosystem would be to establish an education or training system needed for this direct selling. This way youth can make their own path for their own livelihood. The problem of unemployment will be solved to a great extent. India has an enormous population if they are supporting direct selling industry in a massive way like other industries then India will become number one in the world economy on account of the population.
The Program is chaired and mentored by Dr. P. Sekhar, Chairman Unleashing India, Global Smart City Panel, MTGF.Dr. P. Sekhar lauded the great vision and ethics Magnessa brings in its strategic approach. Captain Khan’s confidence is very good which will have a positive influence and automatically spread the word to not only their people, who are working with them but the consumers buying their products through this network as well.
Second, of course, is that they want to go to 100 countries, thinking on an optimistic note which is very important for the success of any enterprise. Most of Magnessa’s products belong to the category of wellness and healthcare. In an era when health and immunity are at the forefront of everyone’s consideration and product adultery puts product ingenuity in concern for the users. Their direct selling may just become one of the most credible ways of outreach with the backup of organic testimonials. They seem to have a very prosperous journey ahead.