This past Saturday, Dr. Nagarajan – along with Amway Chief Sales Officer John Parker and eVent.com Cofounder Andi Sie – issued a similar challenge to another 40 University of Michigan business students.
The task: Use principles of entrepreneurship to create more sustainable economies and bring more of the world’s growing population into the middle class.
Nagarajan, Parker and Sie participated on the Entrepreneurship Panel of the 24th Annual Asia Business Conference in Ann Arbor, themed “Discover the Possibilities: Shape the Future,” and students from Japan, Korea, China, Thailand, USA, India, Indonesia and Malaysia attended.
Parker touched on how Amway measures success by the number of people we can help start their own small, independent businesses, bringing more economic and personal flexibility and independence to their lives.
Sie covered his experience in the real estate, health care and technology sectors as an entrepreneur who abides by one rule: Have a purpose. Purpose, said Sie, is the key to success that helps entrepreneurs get through the inevitable hard times.
Students were asked by the panelists to consider:
The advantages of remaining privately held, like Amway, so that taking the “long view” on solving local or global challenges is possible, over short-term gains for investors.
Remaining authentic to who you are, and your purpose, in all communications.
Understanding cultural drivers such as loyalty in Japan and youth empowerment in Vietnam.
A tenet that Amway founders lived by: Act as a guest in every country where you do business; act as if you want to be invited back tomorrow; and the next day, and the next. Never forget that it is a privilege to be doing business in countries outside of your own.
Be adaptable, but not indecisive.
The “official” first answer of almost anyone, be it a potential partner, a potential new customer, or an investor, will always be “no.” Don’t take “no” for an answer.
Read the book, “Delivering Happiness.” It inspired Sie and helped him realize to not only seek opportunity, but to give opportunity to others.
It was a unique chance for students to get real world inspiration to shape the future—their own and the world’s.
So, what about our new employees? They are not left out. The Early in Career Group at our World Headquarters was started in 2010 for anyone new to the Amway company. Regular meetings and social functions help them network, meet new people and expand their knowledge outside their own department.
They focus on professional development, leadership opportunities or volunteering events.
While it’s focused on helping new employees “connect, collaborate and grow,” veterans are welcome, too. In fact, they often use the group as a resource to tap fresh points of view.
Company executives, like Amway Chief Sales Officer John Parker, say fostering the group is “critical to the future of the company.”
“One of the great things about EiCG is that it keeps Amway entrepreneurial,” Parker said. “We’re a big company, a big business, lots of employees, and any big company like that ends up with silos.
“It’s those individuals that are part of the EiCG network that are the future leaders and the future of the business.”
Check out what some of the group members have to say in this video.
Amway is a business built on relationships, powered by excellent products and guided by the principles of entrepreneurship and free enterprise. It is an organization of one-on-one connections, that has ultimately connected many parts of the world.
That impact has led many to seek additional information about Amway. Our answers are often guided by the Amway Media Guide, a trusted source inside the company for facts and figures that help quantify the organization’s size and scope in some way.
While the guide is developed with the news media in mind, we thought it would be of interest to others as well — including you. So here it is. Enjoy!
According to the Amway Global Entrepreneurship Report, there is a clear answer to what motivates people toward entrepreneurship: Independence from an employer is a more important driver than income.
Amway works in more than 100 countries around the world to establish or maintain cultures and regulatory environments that value and support entrepreneurship. And most importantly, we do this by offering would-be entrepreneurs a low cost, low risk way to get one step closer to the independence they crave.
ABOs and their customers can place orders online or by phone and designate the nearest 7-Eleven store for pickup. A three-stage SMS notification lets the ABO know when the order has shipped, when it has arrived at the designated 7-Eleven and when the customer has picked up the order.
Ritteerawee estimates the new service will reduce order wait time by one or two days. It will also make the convenience stores that much more convenient!
Open a closet or cupboard door in many homes around the world and odds are you’ll find at least one product from General Mills, Campbell Soup, Coca-Cola, L.L. Bean or Fisher Price. And the leaders of these companies have much to teach us: about transformation, innovation, big data, culture, philanthropy and purpose.
That’s why Robert Reiss, Forbes columnist and longtime host of The CEO Show, brings these leaders on air, and asks them the tough questions about their personal management styles, how they have reinvented their industries, and how to develop best practices while upholding their own values. His show airs weekly and is syndicated in full or in segments in 85 U.S. cities.
The recent interview that Reiss did with Amway Chairman Steve Van Andel and Amway President Doug DeVos went live on the show’s website last week. It was an excellent opportunity to amplify Amway’s story, share the entrepreneurial spirit and drive behind direct selling, and have an important conversation about the role of entrepreneurs — people like our Amway Business Owners — in healthy, growing economies.
In the final minutes of the interview, Reiss asks both men for the advice they have for anyone considering becoming an entrepreneur. Said Steve, “You have to just jump in and try something. It doesn’t always work, but it doesn’t matter. Just keep trying.” Doug added, “Get connected with mentors and other people who’ve done it. . . everyone thinks it’s about money. It’s not. It’s about people and it’s about connecting with others who can give you encouragement. . . ”
More than two thirds (69%) of respondents in Greece have a positive attitude toward self-employment, with extremely positive attitudes coming from respondents under the age of 30 (79%) and students (86%).
More than half (53%) of respondents can imagine starting their own business – a tiny change from 2012 and proof positive that Greece has great entrepreneurial will.
To 44% of respondents from Greece, “making a return to the job market” is an extremely appealing motivator for starting a business, likely due to rising unemployment there.
That said, what concerns us greatly is that 85% of respondents in Greece, and 90% of females, see the fear of failing with an enterprise as an obstacle to starting a business. This is 15% more than the worldwide average.
Where Greece makes a statistical and impressive rebound is that it believes its society to be significantly more entrepreneurship-friendly than other countries categorized as crisis-struck, such as Hungary, Romania, Portugal and Spain.
The way they feel could likely be summed up in this man-on-the-street interview: “We are strongly connected to our place . . . and we still think we are the best in the world.”
With a will like that, we look forward to the results from next year’s Amway Global Entrepreneurship Report.
More than 15,000 volunteers worked on 300 projects in 57 countries that resulted in more than 100,000 children being helped.
Jesse Hertstein from our global One by One team puts it best: “It’s not just one day of volunteering. It’s really a demonstration of our commitment … to help children in every community we do business in. Not just today, but on into the future.”
Here’s a collection of some of the amazing things accomplished in our 24-hour global celebration focused on making a difference.
Disclaimer: The authors of these blogs are Amway employees. The opinions expressed here are not necessarily reviewed in advance by anyone but the individual author. These opinions do not necessarily reflect the view of Amway or any other person or company.