So many IBOs continue to perpetuate myths about the Better Business Bureau (BBB) and other factors as evidence that Amway is a good opportunity. What does the BBB do? What does the BBB say about their ratings?
http://www.bbb.org/us/Business-Accreditation/
If a business has been accredited by the BBB, it means BBB has determined that the business meets accreditation standards which include a commitment to make a good faith effort to resolve any consumer complaints. BBB accredited businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB Code of Business Practices represents standards for business accreditation by BBB. Businesses based in the United States and Canada that meet these standards and complete all application procedures will be accredited by BBB. The Code is built on the BBB Standards for Trust, eight principles that summarize important elements of creating and maintaining trust in business.
BBB accreditation does not mean that the business’ products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business’ product quality or competency in performing services.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
**As far as I know, Amway has a satisfactory rating from the BBB. What so many IBOs do not take note of is that a good rating from the BBB has nothing to do with the viability or profitability of the Amway business opportunity. IBOs should also note that they as "independent businesses" are not Amway. Why uplines continue to perpetuate this fallacy is puzzling to me.
Tuesday, May 24, 2011
Thursday, May 19, 2011
How To Become A Millionaire?
Amway isn't listed as one of the factors. LOL The diamond lifestyle also doesn't match what the article says:
http://financiallyfit.yahoo.com/finance/article-112626-9481-5-5-easy-steps-to-becoming-a-millionaire?ywaad=ad0035&nc
1. Only Marry Once
According to "The Millionaire Next Door" by Thomas J. Stanley, Ph.D and William D. Danko, Ph.D, the average millionaire is married with three children. The wives of these millionaires are good budgeters and most often described as even more frugal than their husbands. Interestingly, according to Stanley and Danko's survey, half of these wives do no work outside the home and of those who do, they are most likely teachers.
One upside of only marrying once is avoiding the costs of divorce and of subsequent weddings. The cost of a divorce depends on many factors including income, attorney fees, court fees, and the assets a couple has and how they are divided. The average wedding cost in the United States in 2010, according to The Wedding Report.com, was $24,070.
2. Live Off One Income
One of the advantages of having a life partner is the potential to pull in two incomes. If you are able, consider structuring your set expenses based on only one income, and save what comes in from the other income. Doing so strengthens your financial position in two ways: In case of an emergency or if one partner loses their job, you will not only have less set expenses to cover, but you will also have built up your net worth as a safety measure.
3. Choose the Right Career
According to The Millionaire Next Door, "self-employed people make up less than 20% of the workers in America but account for two-thirds of the millionaires." The book goes on to list an average of 45 to 55 hours spent working per week, so by no means is this the self-employed fantasy of playing golf while your business grows.
The idea of the "right" career can encompass a myriad of factors. Ideally, this would be a career you enjoy, otherwise you likely won't be putting in the dedication required to be successful. The right career would also coincide with overall working trends, or at least not work directly against them. For example, starting a career in typewriter manufacturing may be something you are passionate about, but it would likely suffer due to the current technological trends.
4. Put Your Money in Appreciating Assets
According to Stanley and Danko, the millionaires in their survey invested nearly 20% of their realized household income each year. Nearly 20% of the household's wealth is held in "transaction securities such as publicly traded stocks and mutual funds" and the millionaires tended to rarely sell their equities. Only a very small number of the millionaires surveyed had ever leased a car; few even drove the current year model. Half of those surveyed had lived in their homes for more than 20 years, which, as the authors point out, means they have likely enjoyed "significant increases in the value of their homes."
The end result? These people put a financial priority on assets that will make them money, from their homes to their businesses.
5. Don't Live the Millionaire Lifestyle
Warren Buffett's frugal lifestyle (especially relative to his net worth) is the go-to example for this point. The average value of the surveyed millionaires' homes was $320,000. The bottom line is, those who spend their money on non-appreciating assets cannot put that same money in an asset that will net them a return and increase their wealth. If it is important to you to build your financial worth, stop spending it on new cars, toys and clothes. (The Oracle of Omaha has a net worth in the billions, but his lifestyle is not as rich as you may think.)
The Bottom Line
Becoming a millionaire is easier than ever. While this is a dream that will take work and discipline to achieve, it isn't as far out of reach as you might think. Be smart with your money and before you know it, you'll be able to count yourself among the world's wealthier citizens.
http://financiallyfit.yahoo.com/finance/article-112626-9481-5-5-easy-steps-to-becoming-a-millionaire?ywaad=ad0035&nc
1. Only Marry Once
According to "The Millionaire Next Door" by Thomas J. Stanley, Ph.D and William D. Danko, Ph.D, the average millionaire is married with three children. The wives of these millionaires are good budgeters and most often described as even more frugal than their husbands. Interestingly, according to Stanley and Danko's survey, half of these wives do no work outside the home and of those who do, they are most likely teachers.
One upside of only marrying once is avoiding the costs of divorce and of subsequent weddings. The cost of a divorce depends on many factors including income, attorney fees, court fees, and the assets a couple has and how they are divided. The average wedding cost in the United States in 2010, according to The Wedding Report.com, was $24,070.
2. Live Off One Income
One of the advantages of having a life partner is the potential to pull in two incomes. If you are able, consider structuring your set expenses based on only one income, and save what comes in from the other income. Doing so strengthens your financial position in two ways: In case of an emergency or if one partner loses their job, you will not only have less set expenses to cover, but you will also have built up your net worth as a safety measure.
3. Choose the Right Career
According to The Millionaire Next Door, "self-employed people make up less than 20% of the workers in America but account for two-thirds of the millionaires." The book goes on to list an average of 45 to 55 hours spent working per week, so by no means is this the self-employed fantasy of playing golf while your business grows.
The idea of the "right" career can encompass a myriad of factors. Ideally, this would be a career you enjoy, otherwise you likely won't be putting in the dedication required to be successful. The right career would also coincide with overall working trends, or at least not work directly against them. For example, starting a career in typewriter manufacturing may be something you are passionate about, but it would likely suffer due to the current technological trends.
4. Put Your Money in Appreciating Assets
According to Stanley and Danko, the millionaires in their survey invested nearly 20% of their realized household income each year. Nearly 20% of the household's wealth is held in "transaction securities such as publicly traded stocks and mutual funds" and the millionaires tended to rarely sell their equities. Only a very small number of the millionaires surveyed had ever leased a car; few even drove the current year model. Half of those surveyed had lived in their homes for more than 20 years, which, as the authors point out, means they have likely enjoyed "significant increases in the value of their homes."
The end result? These people put a financial priority on assets that will make them money, from their homes to their businesses.
5. Don't Live the Millionaire Lifestyle
Warren Buffett's frugal lifestyle (especially relative to his net worth) is the go-to example for this point. The average value of the surveyed millionaires' homes was $320,000. The bottom line is, those who spend their money on non-appreciating assets cannot put that same money in an asset that will net them a return and increase their wealth. If it is important to you to build your financial worth, stop spending it on new cars, toys and clothes. (The Oracle of Omaha has a net worth in the billions, but his lifestyle is not as rich as you may think.)
The Bottom Line
Becoming a millionaire is easier than ever. While this is a dream that will take work and discipline to achieve, it isn't as far out of reach as you might think. Be smart with your money and before you know it, you'll be able to count yourself among the world's wealthier citizens.
Monday, May 16, 2011
Ten Plain Truths About Amway and MLM
http://www.falseprofits.com/Americanscam.html
Ten Plain Truths
1. 99.9% of all people who join Amway/Quixtar and other multi-level marketing schemes like it never earn a profit. The losses are so large that these schemes cannot be called a legitimate "business opportunity."
2. To get people to join a MLM scheme in which nearly all will lose requires deception. The promoters do not tell the truth.
3. The people at the top hide basic facts from recruits such as average income, actual costs of doing business, drop out rates, and how much of the total bonus money they receive. They also do not reveal the source of their money, most of which comes from selling "training" materials. Often, their income is from recruits in other countries.
4. Very little of the MLM products are ever actually sold to consumers. The people who buy these products do so as part of investing in a "business opportunity." The business is therefore not "direct selling." It is actually about promoting a bogus business opportunity.
5. More than 50% of all people who join these schemes quit in the first year. Trying to make money from recruiting is therefore a long and costly effort. When a person starts out to build a 'downline" they are already at the bottom of someone else's very large downline. Only a tiny few can ever be at the top.
6. Those few that start at the top of the scheme or who climb to the top make their money directly from the losses suffered by all the latest recruits.
7. The training and motivation seminars, books and tapes are a secret business run by the top promoters of the scheme. Buying tapes and books does not increase a person's chances for success. It only adds to the losses.
8. The people selling the books and tapes are not necessarily successful in the MLM business. Rather, they make most of their money selling the recruitment materials. Claims that they are successful and that the business is a "great opportunity" are false.
9. The schemes recruit more and more people every year, but also many quit. So the scheme can run for many years before it must find other areas with more people to recruit. The longer is operates, the more people it has harmed.
10. The main reason the government of the United States does not investigate these schemes for deception and unfair practices or for running pyramid schemes is that leaders of these schemes contribute huge amounts of money to the politicians' political campaigns. Consumers, therefore, must look out for themselves. Just because a particular MLM such as Amway/Quixtar is not prosecuted by the government does not mean it is legitimate or that you will ever make any money from it.
Contact: Robert L. FitzPatrick
Ten Plain Truths
1. 99.9% of all people who join Amway/Quixtar and other multi-level marketing schemes like it never earn a profit. The losses are so large that these schemes cannot be called a legitimate "business opportunity."
2. To get people to join a MLM scheme in which nearly all will lose requires deception. The promoters do not tell the truth.
3. The people at the top hide basic facts from recruits such as average income, actual costs of doing business, drop out rates, and how much of the total bonus money they receive. They also do not reveal the source of their money, most of which comes from selling "training" materials. Often, their income is from recruits in other countries.
4. Very little of the MLM products are ever actually sold to consumers. The people who buy these products do so as part of investing in a "business opportunity." The business is therefore not "direct selling." It is actually about promoting a bogus business opportunity.
5. More than 50% of all people who join these schemes quit in the first year. Trying to make money from recruiting is therefore a long and costly effort. When a person starts out to build a 'downline" they are already at the bottom of someone else's very large downline. Only a tiny few can ever be at the top.
6. Those few that start at the top of the scheme or who climb to the top make their money directly from the losses suffered by all the latest recruits.
7. The training and motivation seminars, books and tapes are a secret business run by the top promoters of the scheme. Buying tapes and books does not increase a person's chances for success. It only adds to the losses.
8. The people selling the books and tapes are not necessarily successful in the MLM business. Rather, they make most of their money selling the recruitment materials. Claims that they are successful and that the business is a "great opportunity" are false.
9. The schemes recruit more and more people every year, but also many quit. So the scheme can run for many years before it must find other areas with more people to recruit. The longer is operates, the more people it has harmed.
10. The main reason the government of the United States does not investigate these schemes for deception and unfair practices or for running pyramid schemes is that leaders of these schemes contribute huge amounts of money to the politicians' political campaigns. Consumers, therefore, must look out for themselves. Just because a particular MLM such as Amway/Quixtar is not prosecuted by the government does not mean it is legitimate or that you will ever make any money from it.
Contact: Robert L. FitzPatrick
Thursday, May 12, 2011
The Debt Free Illusion?
One of the things our upline taugnt the downline IBOs was to get out of debt. Nobody can argue that consumer debt is good. Everyone should strive to be debt free, save for your mortgage perhaps. But my former (WWDB) leaders, I believe taught people to get out of debt only because they wanted downline to have disposable cash to purchase tools. It was obvious by their teaching.
Debt was bad. I heard Greg Duncan speak (at a function) about how stupid it was to make any loans because the banks made their living off the interest. Ironically, Mr. Duncan apparently had interest only loans in his name several years ago, when he was in bankruptcy proceedings.
But the theme was to get of debt, but it was okay to "invest" in your Amway business and it was okay to go into debt if if meant that you were buying standing orders or buying more function tickets. The underlying message I get from that is that the leaders don't truly care about your financial situation, just that they want you to focus your spending on thei personal interests.
This gets dicey when IBOs might get the impression that they should cash out their 401Ks. or sell their homes to reduce debt. The long term collateral damage from this kind of advice might bring ruin to some families. Some IBOs may even be in more debt because of advice from their sage upline, but will simply shrug it off and lie about their finances. I can confirm this by the teaching WWDB has or had, which was to fake it till you make it. Meaning you give the appearance of success, even if you don't have it. Or in other words, give the illusion of being debt free.
Debt was bad. I heard Greg Duncan speak (at a function) about how stupid it was to make any loans because the banks made their living off the interest. Ironically, Mr. Duncan apparently had interest only loans in his name several years ago, when he was in bankruptcy proceedings.
But the theme was to get of debt, but it was okay to "invest" in your Amway business and it was okay to go into debt if if meant that you were buying standing orders or buying more function tickets. The underlying message I get from that is that the leaders don't truly care about your financial situation, just that they want you to focus your spending on thei personal interests.
This gets dicey when IBOs might get the impression that they should cash out their 401Ks. or sell their homes to reduce debt. The long term collateral damage from this kind of advice might bring ruin to some families. Some IBOs may even be in more debt because of advice from their sage upline, but will simply shrug it off and lie about their finances. I can confirm this by the teaching WWDB has or had, which was to fake it till you make it. Meaning you give the appearance of success, even if you don't have it. Or in other words, give the illusion of being debt free.
Monday, May 2, 2011
Interesting Amway Comment?
This was a response to an IBOFB comment. Enjoy!
27.I want to reference comments 7 and 8 previously, as they seem to be the culmination of an interesting exchange between the reasonably informed and articulate of both camps. (We can very safely ignore the drooling and implanted newbie-sentiments of currently indoctrinated cult members posting on this site in the interests of balance and lucidity)
ibofightback, how can you face yourself in the mirror each day? Are you partaking in a mental excercise where you gain sick satisfaction from countervailing logic and arguing that black is white in order to demonstrate some half arsed, twisted, academic/intellectual superiority? Or do you have too much to lose NOT to adopt a defensive stance towards the patently indefensible? I do actually have some retrospective knowledge and valuable input, having been involved in the early 90′s thankfully to a limited extent, but long enough to peel back the wafer-thin, highly polished veneer to reveal the rank, stinking underbelly of the AMO’s (Amway Motivational Organisations) and the “mechanics” of this finely-honed bait and switch deception. I reached my conclusions 20 years ago, and they are totally consistent with the views of antoverlord. The only thing that astonishes me is that this monumental, actually evil and truly inhuman SCAM/CULT is still extant in 2010, given the overwhelming and compelling evidence that exists to inform and enlighten. Start the ball rolling with “Merchants of Deception” by Eric Scheibeler by all means…
To continue (given the wearisome reality that it is a near impossible task to raise a congent argument to offset the bovine, obdurate and obtuse spoon-fed ignorance as exhibited and recycled by the assimilatees within this cult
FACT Almost everyone in Amway loses a great deal in terms of life-energy, time better spent, money (depending on how long they stick with it before wising-up) and self respect. The percentages are a matter of record and these people cannot be generalised as losers.
FACT In terms of the sum total of human misery, disilliusionment and loss Amway is (probably) the vilest organisation blighting the face of the planet, effectively sanctioning the activities of the Motivational-Tool toting kingpin IBO thieves, whilst distancing themselves from direct involvement. The dynamics of this decades-long deception are a fascinating study in itself. How many BILLION man-hours have been wasted, and how many BILLION useless miles driven merely to increase the throughput of overpriced GUNK to the obscene enrichment of a handful of truly wicked,greedy and manipulative individuals? I have heard “successful” Diamonds BRAG about driving 90,000 miles a year to SHOW THE PLAN. Leaving aside the environmental impact, within a year or so the income dried up as the attrition rate (never discussed) followed the laws of mathematics to the inevitable conclusion. Yes Guys and Gals, the power of duplication can actually be slowed and reversed…and a damm site quicker than it takes to build.
Go figure, as they say.
Comment by Steve Howarth | February 28, 2010 |
27.I want to reference comments 7 and 8 previously, as they seem to be the culmination of an interesting exchange between the reasonably informed and articulate of both camps. (We can very safely ignore the drooling and implanted newbie-sentiments of currently indoctrinated cult members posting on this site in the interests of balance and lucidity)
ibofightback, how can you face yourself in the mirror each day? Are you partaking in a mental excercise where you gain sick satisfaction from countervailing logic and arguing that black is white in order to demonstrate some half arsed, twisted, academic/intellectual superiority? Or do you have too much to lose NOT to adopt a defensive stance towards the patently indefensible? I do actually have some retrospective knowledge and valuable input, having been involved in the early 90′s thankfully to a limited extent, but long enough to peel back the wafer-thin, highly polished veneer to reveal the rank, stinking underbelly of the AMO’s (Amway Motivational Organisations) and the “mechanics” of this finely-honed bait and switch deception. I reached my conclusions 20 years ago, and they are totally consistent with the views of antoverlord. The only thing that astonishes me is that this monumental, actually evil and truly inhuman SCAM/CULT is still extant in 2010, given the overwhelming and compelling evidence that exists to inform and enlighten. Start the ball rolling with “Merchants of Deception” by Eric Scheibeler by all means…
To continue (given the wearisome reality that it is a near impossible task to raise a congent argument to offset the bovine, obdurate and obtuse spoon-fed ignorance as exhibited and recycled by the assimilatees within this cult
FACT Almost everyone in Amway loses a great deal in terms of life-energy, time better spent, money (depending on how long they stick with it before wising-up) and self respect. The percentages are a matter of record and these people cannot be generalised as losers.
FACT In terms of the sum total of human misery, disilliusionment and loss Amway is (probably) the vilest organisation blighting the face of the planet, effectively sanctioning the activities of the Motivational-Tool toting kingpin IBO thieves, whilst distancing themselves from direct involvement. The dynamics of this decades-long deception are a fascinating study in itself. How many BILLION man-hours have been wasted, and how many BILLION useless miles driven merely to increase the throughput of overpriced GUNK to the obscene enrichment of a handful of truly wicked,greedy and manipulative individuals? I have heard “successful” Diamonds BRAG about driving 90,000 miles a year to SHOW THE PLAN. Leaving aside the environmental impact, within a year or so the income dried up as the attrition rate (never discussed) followed the laws of mathematics to the inevitable conclusion. Yes Guys and Gals, the power of duplication can actually be slowed and reversed…and a damm site quicker than it takes to build.
Go figure, as they say.
Comment by Steve Howarth | February 28, 2010 |
Subscribe to:
Posts (Atom)