http://expeditionoftruths.com/2012/02/22/keep-on-working/
The funny thing is, build a solid platinum business with proper width in the Amway Business Opportunity and you could make just over double that pathetic pension of a RN. (not including Q-12 bonus) The benefit of that outside of monetary compensation is that you’ve helped some individuals or families have an opportunity to do the same as what you have. Again I’ll maintain we will never convince anyone to do what we do but the proof is in the pudding with the people we are working with and the many semi-retirement parties that happened last year."
**Our good friend Shaun over at WWDB - Expeditions of Truth has written an article about how people are in debt and that they will be working for a long time and then receive a paltry pension so they can basically live in poverty when they "retire". Shaun's proposal is to build a Q12 platinum business. Now a Q12 platinum business sounds great. But what exactly is a Q12 Platinum Business. Basically, a Q12 business is one where you have moved at least 7500 PV in volume, or about $22,000 in sales for all 12 months in the Amway fiscal year. According to the information on www.amway.com, the average compensation for a Q12 Platinum business is $51,437 annually. "
Now $51,437 gross income is a pretty good supplement to your investments and any other sources of income you might have. But there are things to consider. Someone who runs a Q12 platinum business is very likely to be involved in the training and tools. The costs associated with this can be significant and can eat up a lot of that Q12 income, especially if that Platinum business is a married couple or if they have children. Another thing to consider is what is the likelihood of someone achieving such a business? "
According to www.amway.com, there were 300,000 North American IBOs who received a bonus. Out of those, approximately 0.25% achieved Q12 platinum. One fourth of one percent. One percent would be 3000 IBOs and one fourth would be 750. SO there might be about 750 Q12 platinums in North America. So to earn $51,437, you need to be out showing the plan and helping new IBOs because many IBOs quit, and many do little or nothing and quit. You also need to spend money to train and motivate your downline. And for that, there is about one fourth of one percent who are able to achieve this status. "
For those who can evaluate a business, this doesn't sound like a very good prospect. We know that this takes a lot of effort by the platinum. There are expenses associated with running this type of business so yrur net might be $30K or less. And to maintain this business with no assurances, will take a lot of time and money. Is it worth your time and effort? For me, the answer is no. There are easier ways to supplement my retirement income. I wonder if Shaun is anywhere near a Q12 business?
3 comments:
I can guarantee you that his gross as a platinum would come in much, much less than 30 grand after taxes in Canada. We have a very high taxation rate compared to the US.
Factor in travel & tools and you make enough to fund your Amway habit and nothing more, but feeling good 'cause your upline keeps telling you that they love you. That sounds really worthwhile, doesn't it.
50 grand gross? Sad. less than 1% achieve it? Sadder.
Don't forget that you are trying to build a business around a shitty reputation and hundreds of thousands who will run far away the second you mention Amway and their overpriced products.
I might add that a Q12 platinum is the exception and not the rule. Thus a non Q12 platinum would likely earn much less than a Q12. I believe that sold out IBO's, even at the platinum level, lose money after expenses are said and done. The platinum level has other functions that rank and file IBOs don't attend. They may also travel (by air) to show the plan. Imagine that, being in the top fraction of 1% of IBOs and still losing money.
Extraordinary insights, Joecool... quite amazing, really.
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