Joecool has a post worth reading on his web site today. Titled, Quixtar and Amway – Show Me The Money!, he comments how IBOs frequently talk about the business improving themselves as people or brightening their outlook on life.
I say if the side benefit of being in the business makes you a nicer person, helps you treat your wife better, or whatever, that’s a good thing. Don’t get me wrong. But when you registered to the business opportunity, was that what you signed up for, or did you sign up for residual income, a shortcut to retirement, or to avoid being dead or broke by age 65?
I’ll second Joecool’s comment. Did IBOs sign up for a self-improvement class or get into Amway/Quixtar to make some extra money on the side or to replace an existing income stream?
While an IBO, I used to tell people that I haven’t made much money, but that I’ve learned some useful inter-personal communication skills. Looking back, I said that to convince myself that there was something in the business worth staying in for. I know now that I could have gotten those same important skills doing something else and made a ton more money by focusing on my career.
In fact, knowing what I know now about being a Diamond, I am so glad that I was a quitter and failure in this business! Had I done so, I know exactly what I’d be doing today. I would be in charge of motivating a 300+ person organization each and every day of the week. I would constantly be on the lookout for new IBOs to replace the ones that have quit the business. And finally, I’d be wondering to myself, “Where’s the residual income I was told about? This is a fricking full-time job!?!”
I’m writing in this blog to help those who are struggling with the business yet may still be thinking that success is just around the corner. It might be around the corner, but not through this vehicle. Yes, there are those that have succeeded, but — despite what they may say on stage and on tape — that doesn’t mean the path they took will also lead you to success.
A true indicator of the health of your business is the bottom line. Each month, each year, how much are you making and how much is being expensed in the form of tapes, tools, gas, admission fees, KATE, and web site hosting fees?
Here’s my bottom line for my two and a half years in the business:
- Income: $88
- Expenses: $3,776
- Income: $358
- Expenses: $6,352
- Income: $110
- Expenses: $6,620
Some IBOs can’t even say how much they spent in the last month! If the Amway Motivational Organizations (AMO) wanted to do something useful, they should teach basic accounting to their IBOs. Somehow, I don’t think that is ever going to happen.
To IBOs: What’s your bottom line?