P/L Statement from Gina
Over on Joecool’s blog, Gina has posted a detailed Profits/Loss Statement. Gina is a traditional business owner and routinely asks IBOs to produce their own P/L statement. Most (i.e. every) of the time, she’s met with either silence from the IBO or tapespeak like, “If the dream is big enough, the facts don’t matter!”
One thing that I’ve consistently said on this blog is for IBOs to keep detailed records of their income and expenses. After a year and a half, I should have quit the business after seeing no substantial results from my investment in Amway/Quixtar and the System. I stayed in for another year due in part to the excitement that was Quixtar and 9/1/99, only to decide at the end of the year that enough was enough. Quixtar was just Amway on the Internet, and nothing really had changed. Because I kept detailed records of my business, I was easily able to separate truth from hype.
IBOs in Amway and distributers in MonaVie! Are you keeping detailed records of your business? Are your profits (if you have any) being constantly put back into your business in the form of CD, meeting tickets, and product purchases? Take a look again at Gina’s P/L statement to see what you should be tracking in your business!