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Dan Chard’s Resurrection Of A Company That Makes Thousands Feel Better

As Medifast’s CEO, Dan Chard had his work cut out for him from the start. In October 2016, Chard, a direct selling industry veteran, joined Medifast (MED) as CEO and board member. What is his occupation? Lead the health and Wellness Company’s transition to a new business model and help it expand.

However, getting there necessitated a complete reorganization of the firm. And Chard, 56, surmounted significant obstacles in establishing a new organizational attitude to fully realize Medifast’s promise.

Chard turned Medifast into a powerhouse in the business and a top performer. Medifast is currently the parent business of Optavia, one of the world’s fastest-growing health and wellness communities. Optavia helps individuals accomplish their health and wellness objectives by providing clinically validated programs, coaching, and a community.

Build Financial Wins Like The Medifast CEO

Medifast’s income increased by 240 percent under Chard’s leadership, from $274.5 million in 2016 to $934.8 million in 2020. From $1.49 in 2016, diluted earnings per share have more than quintupled to $8.68 in 2020. In 2020, a pandemic year, income increased by 31% over the previous year.

Medifast is also a huge winner among investors. Under Chard’s leadership, the company’s stock has increased by nearly 500 percent, compared to 107 percent for the S& P 500.

Keep Your Focus Like The Medifast CEO

Chard remained focused and confronted his difficulties head-on. According to Chard, Medifast’s decades-long history as a product maker and distributor stymied growth. All of the systems, procedures, and business attitudes were geared toward mass manufacturing rather than the demands of the consumers.

To ensure that workers were on board with the changes and the new company model, a dramatic realignment was required.

Medifast CEO: Motivate Employees

It’s crucial to keep staff motivated and demonstrate the benefits of the company’s transformation.

“You always need to enlist the support of a group of people that believe in the future and the vision,” Chard said. “And that was the initial focus — helping all of our workers understand why we were making that shift, what that change was, and how we could create trust and confidence in that new path.”

Find Your Inspiration

His mother is Chard’s source of inspiration. She was widowed at the age of 36, leaving her with four children to raise on her own.

Her tenacity and perseverance allowed her to overcome the difficulties that come with parenting children on her own. She instilled in them values that lasted with Chard for a long time, such as her passion for travel.

Upgrade Yourself Continuously

More change, according to Chard, is on the way. He does, however, take a minute to appreciate what has been accomplished.

“There has been a lot of success as a result of the shift,” he added. “In the previous five years, we’ve virtually increased the size of the company twice. At the same time, we’ve grown more lucrative and efficient.”

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Amway Malaysia’s Second-quarter Profit Was Halved Due To Increasing Costs And Adjustments

The net profit of Amway (Malaysia) Holdings Bhd decreased by 53.3 percent to RM7.85 million in the second quarter of 2021, compared to RM16.81 million a year earlier.

This was owing to a larger sales incentive and an increase in Amway Business Owner (ABO) related expenditures following increased sales and true-up adjustments, according to a filing with Bursa Malaysia.

However, sales grew 26.7 percent to RM355.91 million from RM280.80 million in the previous quarter, owing to continued strong demand for nutrition and wellness goods as well as home appliances, according to the direct selling firm.

“The Amway Privileged Customer (APC) program and strong field momentum inspired by the newly introduced sales incentive plan launched in January 2021 also contributed to this,” the company stated.

In terms of prospects, Amway expects moderate growth in the second half of the year compared to the previous year’s strong revenue base.

“Overall, the firm aims to generate significant revenue growth for the entire year 2021,” it added.

The firm also stated that it will continue to invest wisely and responsibly in areas such as ABO-centric reward programs, new product launches and promotions, and enhancements to the digital platform and related delivery infrastructure.

“These ongoing expenditures are important for long-term company growth,” Amway said, “but they will put pressure on the group’s operating margin.”

On a transaction of 2,800 shares, Amway’s stock rose 1 sen to RM5.72 at the closing of trading on Bursa Malaysia.

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Vestige Launches A New Youth Outreach Initiative To Commemorate World Youth Day

Vestige Marketing Ltd, India’s first home-grown direct selling company, is marking World Young Day by encouraging the country’s youth to begin their road toward financial independence by being self-sufficient.

The firm, which has a large network of distributors across the country and a global presence in over six countries, seeks to recruit more young people to its ranks. In commemoration of World Youth Day. Vestige is asking its distributors to commit to onboarding five young people and putting them on the path to financial independence.

Mr. Gautam Bali, Managing Director, Vestige Marketing Ltd, stated of the newly launched youth outreach project, “India is a youthful nation with a rising youth population being one of its most important resources.” Training, skilling, and putting people on the path to financial independence via self-reliance may create economic miracles. We want to accomplish precisely that at Vestige by onboarding more of them to commemorate World Youth Day.”

Because it efficiently encourages entrepreneurship and self-employment, the direct selling sector has potential for the youth. Entrepreneurs are currently the most important factor in India’s economic development since they lead to the creation of micro-enterprises. This frees up resources for capital development, increased per capita income, job creation, higher living standards, and economic independence. Through its large distribution network, the direct selling sector has been mobilizing these qualities. By addressing India’s rising unemployment, empowering women, and skilling people, the industry has many economic advantages.

Unemployed people can earn money in this industry, while underemployed people can earn money passively. Direct selling has the potential to maximize prospects in tier 2 areas while also providing significant revenue opportunities for youngsters. As entrepreneurship grows, this will define a self-sufficient India at the grassroots level. It has a huge potential for fuelling the economic ambitions of young Indians.

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Stemsation (R) Receives Registration Approval From The USPTO For Four Trademarks

StemSation International, Inc. a pioneer in the emerging category of dietary supplements known as Stem Cell Nutrition, recently announced that its wholly-owned subsidiary StemSation IP Holding LLC has been awarded a total of four registered trademarks by the United States Patent and Trademark Office.

StemSation promotes and sells its products online through a growing network of Independent Wellness Advocates in the US and Europe, each of whom receives a StemSation-branded website in four languages and currencies. StemSation continues to extend its product offerings throughout the world, with plans in the works to join the Latin American market by the end of 2021.

ABOUT STEMSATION INTERNATIONAL, INC.

StemSation International, Inc. creates, markets, and distributes all-natural consumer wellness products that support the human body’s two most recently discovered biological systems, stem cells and endocannabinoids, through a direct selling model in which Independent Wellness Advocates (“IWAs”) promote and sell the company’s products to consumers.

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DuoLife Reports A 75% Increase In Revenue

DuoLife is a joint-stock business based in Poland that operates in 52 markets and territories across the world.

The firm is preparing to list on the stock exchange, and its 2020-2025 development goals call for the entrance of new markets and a rise in turnover in Europe, Asia, and North America.

On August 21-22, the DuoLife Community hosted its worldwide meeting: Today for Tomorrow | Celebration Weekend in Gliwice, Poland’s most contemporary and largest sports and entertainment stadium.

2,000 DuoLife Club members from all across Europe gathered to celebrate their achievements and share their stories.

The event’s organizing was quite difficult. DuoLife S.A. rented a building that can seat almost 17,000 people simply to assemble the maximum number of 2,000 participants in one location, in line with today’s limits, to fulfill highly tight rules and criteria connected to the present sanitary regime.

DuoLife S.A. summarised its various accomplishments in these trying circumstances at the event. The company’s turnover increased by 75 percent between February 2020 and August 2021.

DuoLife’s co-founders presented the company’s goals and development plan for the next five years, while wellness and beauty experts presented the latest scientific research and industry trends, and recognized personal development experts provided many useful tips to all those seeking answers on how to be successful in both their personal and professional lives.

Dawid Tomala, the Tokyo Olympic winner in 50 km sports walking, attended the occasion. Dawid presented his experience as a DuoLife Club Member, describing how DuoLife nutritional supplements aid him in his difficult workouts and enable him to achieve such excellent results.

DuoLife sponsors 24 active and past athletes, including Patryk Dobek, an Olympic bronze medallist in the 800 m run from Tokyo who serves as the company’s brand ambassador and utilizes DuoLife products daily.

About DuoLife

DuoLife is a joint-stock company based on the unique softmarketing® business model that was formed in Poland in 2013. It operates internationally in 52 countries and territories.

Members of the DuoLife Club are located all over the world, and the company’s items are sent to Asian, North, and South American nations as well.

The firm operates two facilities where new product lines are developed under the supervision of the Research and Development Department and the Scientific Council. The one makes liquid and pill supplements, while the other focuses on cosmetics.

The firm is now preparing to list on the stock exchange, and its 2020-2025 development goals call for the entry of new markets and an increase in turnover in Europe, Asia, and North America.

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Medical Marijuana (Kannaway) Revenue Up 8% to $9.6 Million in Q2 – 2021

Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the world’s first publicly traded cannabis company that launched the world’s first cannabis-derived nutraceutical products, brands, and supply chain, today announced financial results for the quarter ending June 30, 2021, as well as an overview of recent operational highlights.
Financial and operational highlights for the second quarter of 2021
In the second quarter of 2021, the company generated $9.6 million in net sales, up 8% from the first quarter.

• When compared to the first quarter of 2021, net income for the second quarter of 2021 was $7.0 million, an increase of 86 percent QoQ.
• For the fiscal year ended June 30, 2021, gross profit was $5.6 million.
• When compared to Q1 of 2021, the cash position after the quarter was $6.6 million, up 34 percent QoQ.
• When compared to Q2 2020, both Revenue & Marketing and General and Administrative expenditures fell as a proportion of sales.
• The $2.0 million in Net Cash Provided by Operating Activities was one of the greatest in the Company’s history.
• Blake Schroeder, the company’s Chief Operating Officer, has been elevated to Chief Executive Officer at Medical Marijuana, Inc.
• In The 19th Annual American Business Awards®, the United States of America’s top business awards program, the Company, and its subsidiaries earned two coveted Stevie® Awards.
• HempMeds®, a subsidiary of Medical Marijuana, Inc., hailed new law in Mexico that decriminalizes cannabis.

“I am pleased to see that we continued to expand in terms of sales, cash position, and bottom line in my first quarter as CEO of the company,” says the CEO.

CEO of Medical Marijuana, Inc. Blake Schroeder stated.

“We’re striving to create a global cannabis firm that’s not only lucrative but also brings cannabis’ power to new markets throughout the world. Both our Latin American and Asian businesses have witnessed significant growth this quarter.

These markets continue to have great untapped potential for our Company, and we continue to enjoy the first-mover advantage in them. Our US and European operations have also remained robust, and we anticipate continuing to make success in the months ahead, as we have in previous months.

While we continue to prepare for the future of Medical Marijuana, Inc., we are focused on expanding globally, developing new products, and maintaining our position as the industry leader in cannabis-based wellness products.”

About Medical Marijuana, Inc.

We’re a firm with a lot of firsts®. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and cannabinoid-based clinical research and botanical drug development division.