When I was an IBO, I often saw my upline diamond driving around town dressed in a business suit. I used to think why does he keep working if he can walk away and collect residual income? My sponsor told me that the diamond only works because he cares about his downline and wants to help them. So there are two possible scenarios, the diamond is working to help his downline out of a genuine concern, or possoibly he is working because he has to! The only difference now is that the diamond works the nite and/or graveyard shift, because many IBOs are building the business after they complete their day jobs. **We should also note that my former upline diamond dropped down to the emerald level around 2005 and has since re-established his diamond level.
Now Amway has stated that the average diamond earns about $146,000 a year. That is a decent income, but after taxes and paying for basic expenses such as medical and dental insurance, the average diamond probably lives a very middle class lifestyle. Keep in mind that a large portion of a diamond's income comes in the form of an annual bonus, thus a diamond's monthly income may be quite small. Yes, diamonds may have other sources of income such as speaking engagements and income from standing orders and functions. But this income depends on the diamond's continued appearances and efforts.
So is it likely that a diamond is "free"? I would have to conclude that a diamond is not free, and may actually have to spend more time maintaining his group than if the diamond simply had a 9-5 job. For one thing, a diamond needs to maintain a personal group to keep qualifying for bonuses. With a poor retention rate in Amway, I am fairly sure that a diamond spends much time recruiting personally sponsored IBOs to maintain this group. Additionally, a diamond must help his six or more groups of downline platinums to maintain their businesses or face the possibility of falling out of qualification. My former diamond dropped down to the emerald level but has since re-qualified at diamond. A diamond must also dedicate time to reward up and coming movers and shakers, to keep them motivated. I got to spend time with my upline diamond when I was considered a promising up and coming pin.
In order to continue to receive tools income, a diamond must also travel to numerous functions and speaking engagements. Although the tools income allegedly doubles a diamond's income, it also adds a lot of expenses, especially if the diamond and his family travel first class to show off the diamond lifestyle.
After breaking down projected income and considering projected expenses, I can only conclude that a diamond probably lives a middle to upper middle class lifestyle, and probably works as much as a man with a 9-5 job, except that a diamond works nites and weekends. A good portrait of this is shown in Ruth Carter's book (Amway Motivational Organizations: Behind The Smoke and Mirrors). In the book, the diamond had a net income of over $300,000, but lived in debt, could barely pay his mortgage, and was always on the run from one function to the next.
I believe that diamonds may actually be busier at the diamond level than an average Joe who has a 9-5 J-O-B. The difference is that the diamond works the night shift. Is this the freedom you are seeking?
I would agree with you that diamonds would see a middle class income and need to continue working long hours to maintain his business. Most of them however are a lot better off than they were. Of course if a diamond has built a few diamond legs then it should be good. But i think anyone who has taken to diamond level can get to double level which should be lucrative.
ReplyDeleteNot if you live the diamond lifestyle. Triple diamond bankrupt?
ReplyDeletehttp://www.amquix.info/duncan_bankrupt.html
Agreed. Of course they need to know how to manage their finances or as you say bankruptcy looms.
ReplyDeleteBottom line. The diamond income cannot sustain the diamond lifestyle that many diamonds portray.
ReplyDeleteAs i said above diamond will give a middle class lifestyle and you are right not what is often stated in the plan. The duncan papers show he has 64 million dollar assets but cant pay 7 million debts. This is typical mismanagement. Apparently he spent 9 million on legal fees. When you start making big bucks you need to know how to manage it. ,, , and avoid lawyers
ReplyDeleteMost of the IBOs are not presented with the real income plan of Amway scheme. Sprry if I am hurting anyone's sentiments for not calling it as a business. Now onwards I will always call Amway scheme as substitute to Amway Scam!
ReplyDeleteThe business reference guide on the Amway website clearly tells us the fact that, you need to have multiple legs giving you income all the time for which you need keep sponsoring new legs. Sponsoring tens of new working legs takes ages and hence even if they have six 21% legs that income will never be sufficient enough to live a middle class lifestyle. Those dreambuilders start building dreams through CDs and functions and as long as they sell they can survive in Amway. Diamonds are not from another planets, they do go bankrupt, surely.
I think you are right. In this business you can never stop. You need to keep building or else it will crumble.
ReplyDelete