Thursday, September 16, 2010

Amway - IBOs, Keep Dreaming But Don't Quit Your Day Jobs

So many IBOs have grandiose dreams of untold wealth, financial freedom. They think they will "build it once' and sit back on the beaches of the world sipping exotic drinks while the 6 figure checks keep coming in the mail. Sure it's a nice thought, but not a single IBO I have encountered can name a single IBO who achieved diamond, and walked away from the business to enjoy freedom while the money pours into their bank accounts. It is very likely that nobody like this exists. I suppose someone could go diamond and walk away from the business and still earn some bonuses, but very quickly, that business would likely fall out of qualification and the bonuses would shrink to nothing very quickly. Also, to earn bonuses, I believe an IBO needs to have side volume exceeding 2500 PV, which is roughly $7500 monthly in personal group volume. With normal attrition, it's easy to see how a diamond business can fall apart faster than a cheap suit without maintenance.

I also see and hear many IBOs popping off about how someone in their upline earning $60,000 a year. While it may seem like a nice income to someone who has a low paying or entry level job, that income is gross and may not leave much left after taxes and associated business expenses. Even a diamond with an average income of $150,000 in a year likely has a very low monthly income from Amway as much of that income comes in the form of an annual bonus. As a former emerald once told me, you needed to budget out that annual bonus or you could be in financial trouble later in the year, if Amway is your sole source of income.

Also, you may have seen diamond showing off sports cars and other displays of wealth. My former LOS, WWDB has a function called "Dream nite" where they show off lavish displays of wealth. Well, it is my informed guess that most diamonds cannot afford the lifestyles and toys that they show off in these functions. If you do the math, you can see that after taxes and other expenses, a diamond lifestyle is likely to be quite ordinary. Normally, nobody would care about this but since diamonds use this display of wealth to recruit IBOs and to sell tools, it is significant for IBOs to know.

While it is great for someone to have dreams and goals, it is also important to have achievable goals. It is simply impossible for a room of IBOs to go diamond and to earn the kind of income that is shown in "the plan". Amway recruiters will show you "what's possible", but not "what's likely". To put perspective on that, it's "possible" that you can start a software company that puts microsoft out of business, but it's not likely. It's possible for you to win the lottery, but not likely. My advice to IBOs is not to quit your day jobs - ever. Your dreams and goals can be accomplished in many ways, but it is unlikely to be achieved with an Amway business.


Anonymous said...

Sorry man, you meant 'IBOs, Keep Building But Don't Quit Your Day Jobs Yet'. You know, dreaming alone won't get you there, you must act. Then when you get there, quit your job to live your dreams. Stop giving the wrong message.

Joecool said...

LOL as you speak, there are diamonds who lost homes to foreclosure, bankruptcy, having to go back to a job. There are some selling their homes, possibly because they cannot afford it.

The message isn't wrong, you just refuse to bellieve the truth.

Anonymous said...

Funny how some diamonds supposedly have all this time on their hands and money to burn but it's all a farce. You never see these people out helping their community or doing services for less fortunate people or the elderly. They only help people if it means money for their Amway business.

Anonymous said...

@anon #2: FOR reals. But then again, they don't do amyway to have free time to benefit others. thats stupid. Even the God-fearing Christians they claim to be don't do silly things like that.... it's sick.

Anonymous said...

Amway leaders are so deceiving and arrogant by bullshitting all sorts of lies. They are so self centered and manipulate people with continuous brain washing garbage to their downlines. All the top earners of Amway are making a majority of their income from Britt World Wide (BWW) system that includes books, CDs, meetings, business seminars and major functions. The best part is that there are 4 major functions in a year and each event ticket costing over $100 which does not include hotel, food, fuel etc.

1. Winter conference (January)
2. Spring conference (April)
3. Summer conference (July)
4. FED (October)