One thing that many Amway promoters are reluctant to discuss is what your realistic prospects of success are in your business. The outcome of the 6-4-2 and 2-5 year plans will be defined as Diamond success, so I will use that as a measure of my accomplishments. There is the possibility of earning some revenue at lesser levels, but my understanding is that diamond is where the major money comes from Amway and the tools begin to flow. And I can understand why folks who are marketing Amway don't talk about your realistic prospects of winning the lottery. After all, lottery promoters do not parade the millions of losers in front of you; instead, they only parade the winners in front of you to demonstrate their success.
Many people, including Amway supporters, will agree that many independent business owners (IBO) accomplish little or nothing. A small number of customers never even bother to place an order or make any attempt to conduct business at all. For the purposes of this piece, I will not be referring to any of these individuals. I'm referring to those who are willing to put in some effort on behalf of the company. This is about people who are willing to put in the necessary time and money to make this business a success.
Many people who want to make a genuine effort will acquire and, hopefully, sell a few products in order to accomplish the target of 100 PV in a short period of time. You will receive around $10 from Amway as well as any profit you may have made from the sale of products in exchange for your time and work. Now, here's the snag. You will almost certainly have to pay website fees in addition to the $10 you receive from Amway. More dedicated IBOs may find themselves paying for voicemail, monthly standing orders, book of the month, and even even attending events on their own own! You will be unable to keep up with your expenses unless you are able to grow your volume by selling a sufficient number of products and/or sponsoring downline who both buy and sell products on your behalf.
Because Amway is required to incorporate the IBO benefits in their product costs, the products are more expensive than the competition. As a result, sales to non-IBOs are at a low level. If you are unable to generate greater volume through sales to non-IBOs, the only other option is to sponsor persons who will both buy and sell things. However, because of unethical IBO behaviour in the past, convincing people to see the Amway sales and marketing plan may prove difficult. Furthermore, the majority of IBOs are unable to fund even a single downline.
Some Amway supporters may assert that if you follow their CORE principles for 2-5 years continuously, you have a good chance of succeeding in your business. Although they appear to be straightforward, several of these processes are difficult to follow on a consistent basis due to the variables I have outlined. It's not like going for a daily mile walk when you have complete control over each step. People will most likely fail in their attempts to display the plan and sponsor others because they will not be able to identify enough people who are interested in seeing an Amway plan. Many, perhaps the majority of other IBOs can and will follow specific actions on a consistent basis, such as listening to a CD on a daily basis and reading a business success book. However, because of their questionable reputation in the United States, IBOs will most likely be unable to demonstrate sufficient plans for success.
What is your realistic possibility of achieving success? My educated judgement is that it is less than one tenth of one percent. That is the probability of winning the lottery. What are your chances of becoming a platinum member? My educated opinion is that it will be roughly a quarter of one percent (1 in 400: Source Amway.com). If you believe you have a chance of beating the odds, go forward. For the majority of people, it might be a good idea to look into other options.
It is essential, if you want to be successful as an Amway IBO (Independent Business Owner), to have reasonable expectations for what you can accomplish with the company. Although Amway markets itself as a way to achieve financial independence and success, the fact is that the majority of Independent Business Owners (IBOs) won't make a large amount of money and may even end up losing money.
According to Amway's own income disclosure statement, the typical "active" Amway Independent Business Owner (IBO) made $206 in gross income each and every month in the year 2020. This statistic, however, includes all Independent Business Owners (IBOs), including those who have only recently signed up and may not have yet sold any products. A meager $87.50 was the median amount of gross income earned each month by active IBOs. That is to say, less than half of all active IBOs made more than $87.50 each month in commissions.
In addition, just 6.4% of active IBOs made more than $500 per month in commissions. And the top one percent of IBOs made an annual average income of $73,500 for their efforts. Although this may sound remarkable, it is vital to keep in mind that only the top 1% of IBOs are included on this list.
So, what could a potential Amway Independent Business Owner expect? It is possible to make some extra money with Amway, but it is quite doubtful that you would be able to replace your current income or become financially independent with this opportunity. It is essential to have an accurate idea of the amount of time and work required in order to make any money at all if you are considering becoming an Independent Business Owner (IBO) with Amway.
Building a customer base, rather of relying primarily on recruiting new IBOs, is one of the most important things you can do to ensure your success as an Amway independent business owner. This entails cultivating relationships with prospective customers, presenting them with items that are of high value and quality, and giving outstanding service to those customers. Even if it takes some time before you start to see benefits from your efforts, it's still crucial to remain consistent and persistent in those efforts.
The cost of conducting business with Amway is another essential aspect to take into consideration. You will be required to make purchases from Amway in order to become an Independent Business Owner (IBO). This can be a costly endeavor, and there is no assurance that you will be able to sell enough to make up for the money that you will have spent. Attending events and purchasing training materials are two examples of the additional costs that may be connected with operating an Amway business.
In conclusion, becoming an Amway Independent Business Owner (IBO) gives you the opportunity to earn some additional income; but, it is imperative that you maintain reasonable expectations regarding the level of success you can attain. It is extremely doubtful that you would be able to make Amway your sole source of income and become financially independent in the near future. If you are thinking about becoming an Amway Independent company Owner (IBO), it is essential to carefully analyze the risks involved as well as the possible rewards, and to have a detailed company expansion strategy in place.
0 comments: