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Saturday, August 28, 2021

Amway IBOs, Don't Quit Your Jobs?

 IBOs have extravagant visions of infinite wealth and financial freedom, which they pursue with zeal. They believe they will "build it once" and then lounge back on the beaches of the world, sipping exotic beverages while the six-figure checks continue to arrive in the mailbox. To be sure, it's a beautiful notion, but not a single independent company owner I've met can point to a single IBO who has attained diamond status and then walked away from the firm to enjoy independence while the money continues to come into his or her bank account. It is highly likely that there is no one else like this. While it's possible to become a diamond and walk away from a firm while still earning bonuses, that business would most likely fall out of qualification very fast, and the bonuses would be reduced to nothing very quickly. Also, I believe that in order to qualify for bonuses, an IBO must have side volume in excess of 2500 PV, which is approximately $7500 monthly in personal group volume. If a diamond business suffers from regular attrition, it is simple to understand how it could break apart more quickly than a cheap suit that has not been properly maintained.

I also see and hear a lot of IBOs bragging about how someone in their upline makes $60,000 a year, which is ridiculous. While it may appear to be a substantial income to someone working in a low-wage or entry-level position, such income is gross and may not leave much after taxes and other company expenses. Even a diamond who earns an average of $150,000 per year will have a very low monthly income from Amway because the majority of that revenue is received in the form of a yearly bonus, according to the company. If Amway is your only source of income, as a former member once warned me, you need to budget out that annual bonus or you could find yourself in financial problems later in the year.

Also, you may have noticed diamonds displaying sports vehicles and other signs of affluence on the street. In my old LOS, WWDB, they have a function dubbed "Dream nite," during which they flaunt extravagant displays of riches. In any case, it is my educated belief that the majority of diamonds cannot afford the lives and toys that they flaunt during these functions. It is easy to see that, after taxes and other expenses, a diamond lifestyle is going to be very ordinary if you do the numbers. Normally, this would be unimportant, but because diamonds utilise this display of wealth to recruit IBOs and sell tools, it is important for IBOs to be aware of it.

While it is admirable for someone to have ambitions and goals, it is also crucial for them to have goals that are attainable. Having a room of IBOs go diamond and earning the kind of money that is depicted in "the plan" is simply not doable. Amway recruiters will show you "what is conceivable," but they will not show you "what is most likely." With that in mind, it is "possible" to start a software company that will knock Microsoft out of business, but this is not likely to happen. The possibility of you winning the lottery exists, but it is not likely. My recommendation to IBOs is to never quit their day jobs, under any circumstances. Your aspirations and goals can be realised in a variety of ways, but it is unlikely that they will be realised through an Amway business.

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