Only those who are well-equipped can readily embrace the opportunities ahead. Even one is at the forefront of the trend, he or she cannot prevent opportunities slipping away if not prepared. Now let’s find out what NU SKIN has been preparing. What are the competitive edges that it possesses? NU SKIN helps you embrace a successful future!
Competitive Advantage 1: Knowing the Channels
“Channeling” was the reason why Wal-Mart, the U.S. retailing giant, earns a total revenue of US$ 220 billion, outruns Exxon Mobil and ranks first in the service sector for two consecutive years, as Fortune Magazine pointed out in 2010. It was also the exact reason why 7-ELEVEN can make its way to success with more than 3,000 branches and an annual revenue of tens of billions in Taiwan. The book “Channeling is a New Revolution”《通路創新革命》proposes the concept: “Channeling is the Trump Card in the Low-profit Age.” Only those who know the channel can grasp hold of the privileges and gain upper hand in the brutal market that champions survival for the fittest.
Do you know what channels are you holding in NU SKIN? According to a research from the U.S. headquarter, 57 % of the NU SKIN business partners in the U.S. possess an undergraduate degree or above, nearly 2 times higher than the average value among the industry (31%) announced by the World Federation of Direct Selling Associations. The extensive and solid channels built by quality business partners in NU SKIN let products and business opportunities make way for success.
Competitive Advantage 2: Strength in Innovative Research & Development
Founded in 1984, NU SKIN has always been an enterprise leaping for best of the best. The Company always upholds the “All-of-the-good, none-of-the-bad” and “Provided by Nature. Proven by Science.TM” philosophies in product innovation, which matches seamlessly with the spirit of the book “A to A+”. It adopts the attitude of sustainable business operation and never gives in before reaching perfect quality.
Up to now, NU SKIN has already launched more than 200 products within 16 product lines in Taiwan, while PHARMANEX has also introduced more than 29 nutritional supplements. The launching of new products can be continuously anticipated in future, which do not only fit the needs of everyone, but also add important indications to the bright future of the Company.
According to Annual Report of the Company in 2002, 60 % of the sales volume in NU SKIN products and 86% of that in PHARMANEX nutritional supplements are contributed by products innovated after 2000. This is solid evidence showing that NU SKIN’s resourcefulness in product research and development is being widely recognized by consumers.
Competitive Advantage 3: Enormous Market Potentials
The trend of aging societies is universally hard-hitting. That is why products that appeal for “youthfulness” and “health” have unprecedented market potentials. Being able to go seamless with the trend makes NU SKIN products distinctive. What’s more, both personal care products and nutritional supplements possess the characteristics that allow one to use every day from head to toe, and from the inside out. Such nature of products guarantees the sales volume of business partners, which sets a sound and secured foundation for the business.
Competitive Advantage 4: An International Market Crossing Time Zone Barrier
Only a few of all direct-selling companies in the world really possess what they claimed: the transnational operation opportunities. NU SKIN is one among the few! NU SKIN sets office across nearly 50 countries for one single market that supports a time zone crossing transnational acknowledgement plan. The moment you become a business partner in NU SKIN is also the time when you grasp hold of the opportunities in the single global market.
Why is a single global market advantageous? Apart from its non-saturating nature, the market also enjoys an acknowledgement plan unlimited by time zone barrier. Commissions from nearly 50 countries slip into your pocket while you are chilling under the sun in Hawaiian beaches!
Competitive Advantage 5: Favorable Commission
NU SKIN entitles you a 5% Leadership Bonus whenever you train one new leader. How powerful is this “5% in 6 Generations”? According to statistics from headquarter of the Company in the U.S. in 1999-2003, the average annual income of active direct-selling brand affiliate in the States is around US$ 50,000- 74,999 ;in 2003, the value even elevated to a level between US$ 75,000 to 99,999.Up till now, NU SKIN has already created 44 accounts of 20 Million Dollar Circle Member, 77 accounts of 10 Million Dollar Circle Member, 163 accounts of 5 Million Dollar Circle Member and 978 accounts of 1 Million Dollar Circle Member around the globe in end of May in 2015.Since 1984, NU SKIN Enterprises has generated 1,264 millionaires (in US$).
*Million Dollar Circle Member refers to those independent brand affiliates who are members of the Million Dollar Circle and have earned over one million US dollar in commissions over the life of their involvement with NU SKIN. There are, however, no guarantees of success. Not all brand affiliates make money. For a complete summary of brand affiliate earnings/bonuses paid to brand affiliates at all levels within the Sales Compensation Plan, please contact the company at 2837 7700 or go to www.nuskin.com.hk.
Competitive Advantage 6: Continuous Revolutions
Services of high standard and continuous adjustments are the guiding visions and action rules for businesses that can stand the test of time, as J.W. “Bill” Marriott, CEO of the world’s biggest hotel chain Marriott International, pointed out in his new book “The Spirit to Serve”.
Since the inception of NU SKIN, the Company has spent efforts in adjusting the business model to keep its leading role in trends and currents. Starting from the acquisition of PHARMANEX in 1998, every adjustment of NU SKIN did not only bring the Company an enlarged scope of business opportunities, but also a firmer grasp of the market current.
Competitive Advantage 7: Trend-setting Technologies
Bill Gates addressed in his book “THE SPEED OF THOUGHT” the future stress of corporations in competitions in terms of speed, which has to be solved with internet technologies, synchronization in information sharing and the improvement of information utilizing efficiency, as these help getting the company to the clients quickly that help win the competitive advantage.
As early as the turn of century, NU SKIN spent an amount close to US$ 600 million in renovating the electronic system and software, which equipped business partners with resourceful IT service, including rich internet resources, online enquiry and ordering services.
Competitive Advantage 8: Financial Soundness
Research institutes often attributed the closing down of numerous large enterprises to their lack of financial soundness rather than plight in sales volume. In 1996, the transparency of the Company’s financial status was further enhanced when listed on Wall Street. A sound financial status and bright result was the biggest advantage NU SKIN offers to its business partners.
Competitive Advantage 9: A Corporate Culture of Giving
Morris Chang, Chairman of Taiwan Semiconductor Manufacturing Company stressed multiple times in his speeches the importance of shaping a corporate culture, the core value of actions for a company. And what is the corporate culture of NU SKIN? For many years, Blake Roney, Founder of NU SKIN Enterprises valued the philosophy of “Force for Good”. From the establishment of “the NU SKIN Force for Good” to “ Nourish The Children “ Initiative, NU SKIN has been upholding the “Force for Good” which moves the heart of business partners and win the recognition and applause from general public and brand affiliates worldwide.
Competitive Advantage 10: All-rounded Services
The unreserved service and fully-devoted support from over 1,000 staff members across nearly 50 markets demonstrate one other strength of NU SKIN. NU SKIN Hong Kong provides business partners various forms of support. NU SKIN Plaza, NU SKIN Mongkok Distribution Center and Macau Distribution Center provide you not only with products and Account Manager of the highest standard, but also up-to-date promotional materials and quality sales aids that help you to expand your business. The main websites stand by at all times, allowing you to master your own opportunities.