I had the displeasure of accepting a facebook request from someone I thought was an investor (due to mutual friends) and hence I accepted the request. So I talked to this girl asking about her story and telling mine. She came across as quite over confident - going on about how she had multiple businesses with little overheads. Next I got a message saying she thought both me and my sis were really switched on and she was talking about us to her business partner and would love to have a chat with us.
So I had some inkling but I thought why not...if anything I'd build a network of investors and build friendships with like minded people. So we booked a Skype on Sunday evening. The conversation started with the video on. The conversation started with us introducing ourselves about what we have been upto over the years and where we are at and when we intend to leave work for good. The girl and her "business partner" also went through their history - which I didn't really find inspiring. The girl asked what would you like to do when you were financially free...just to generate interest.
Then the guy started on going ON and ON and ON about how awesome this thing is and how you can distribute these sample products as everyone loves a sample. He was excited he had just sold a hair serum for $120 and pocketed $40. Also that he just went on an Amway paid trip (and the girl added it was 5 star) [I can afford a 5 star holiday thank you!]. We were both very straight faced. I felt violated that he didn't even bother asking if we had heard about Amway what we thought of it. It was in our face.
He also added his parents had done the same from the 80's and threw in this comment...they owned a golf club and a car park in Brissy.
So we got an email afterwards and I replied with a 5 pointer:
His response was HUGE...
And our final response:
Phew.....it was the third time we were approached by someone for something like this. First time we heard and moved on. Second time could tell it was Amway and didn't bother responding (and this one was having been messaged by someone on Somersoft forums on the back of my thread on starting a business under Investor Psychology - I was told it was an exciting opportunity). Third time, got sucked in again......
I know there are a few proponents of MLM on here. I am not trying to create an argument here. Just want to say - how frustrating when these guys won't back off and get it !!!
If anything this girl who added me on FB and went on about her "businesses" has really lost credibility....
So I had some inkling but I thought why not...if anything I'd build a network of investors and build friendships with like minded people. So we booked a Skype on Sunday evening. The conversation started with the video on. The conversation started with us introducing ourselves about what we have been upto over the years and where we are at and when we intend to leave work for good. The girl and her "business partner" also went through their history - which I didn't really find inspiring. The girl asked what would you like to do when you were financially free...just to generate interest.
Then the guy started on going ON and ON and ON about how awesome this thing is and how you can distribute these sample products as everyone loves a sample. He was excited he had just sold a hair serum for $120 and pocketed $40. Also that he just went on an Amway paid trip (and the girl added it was 5 star) [I can afford a 5 star holiday thank you!]. We were both very straight faced. I felt violated that he didn't even bother asking if we had heard about Amway what we thought of it. It was in our face.
He also added his parents had done the same from the 80's and threw in this comment...they owned a golf club and a car park in Brissy.
So we got an email afterwards and I replied with a 5 pointer:
1. We will never endorse products we don't believe in or use
2. We are very time pressed as we are either busy with work or building our portfolio (two times )
3. The business may be a great tool to learn from, but we actively work on our self development; in fact that has been the biggest investment in our life over the years
4. In our view the business on the outset doesn't seem innovative or promote entrepreneurship
5. I think if we invested the same time in getting a $300pw cashflow into looking at a deal that makes us $50k going into the market, we'd be much better off
6. There is no evidence of inflation being taken into account in the distribution model. There may be allowances for that. But as you would know FIAT currency loses value unfortunately
I wish you all the best with your vision for the business, however due to the above points, it's not a path we intend to take.
Let us know if you are looking to invest in Sydney, we'd be more than happy to share our views and help out where possible.
His response was HUGE...
Thanks for your response. It was great to connect with you both! . Your right, it does work as a solid ongoing income. I have seen it work for hundreds of people within TeamMak around Australia.
One of things I am noticing in your assessment here is that you are both looking at it like a property ie; yield, return etc. This is a business, it has exponential growth and unlike most businesses, it has very little overheads and the ability to make immediate money. Most don't make money for the first 1-2 years at least.
I thought I would respond to each point as I think there have been many key points which have been missed here when looking at this.
1. Neither would we. The only way you can find out if you would believe in or endorse them is by trying them. The products you use in your home right now are an example of deciding to use something at some point. Amway has some of the best products on the market in health, home care & beauty. You will need to try them before you write them off.
2. As I said at the start of the call, time is always the issue for anyone. This is something you work into your life. If you two take into account that you could with our help, create a 100k ongoing income within 3 years from this, outside of your jobs and around your investments, I am sure time would appear ;-) Same as if you saw a great property deal come up, you would stay up later to research and you would drive to that suburb to check it out multiple times.
3. That is great. I believe Self development is the best investment you can make. A concept I think that was missed here is that it is a team development system. As your team grows, individuals are getting self development through the system and your business is growing as a result. I have a couple in Wellington who are building this and now there brother and sister in law are too. I have never been to Wellington. Last month their business grew, as did mine. That is the power of this thing. You have to look beyond your own capabilities here. Think: who do I know that could benefit from this. I am sure you guys know alot of ambitious people or people who want more. Emma said you want to empower people....this is a way to do that along with those who want to do property with you as well.
4. I am glad you said at the 'outset'. I often refer to TeamMak as an Entreprenurial Development team. Last year, around the world, Amway took 53,000 people on a free trip. That means that 53,000 people qualified at the 40k minimum a year level. We have a CD of the week and Book of the month program where books like Rich Dad Poor Dad and other personal and financial development books come through. This allows people to get into a business for $250. That is why over 53 years it has been such a success. Everyday people like us, can create a huge business.....if we decide too. James Beauchamp, the guy on the cd I gave you went from Zero to $350k income per year in 2 years and 9 months. To me that is entrepreneurial.
5. I believe you are looking at this wrong. This is not an investment opportunity. This is a sweat equity business that creates multiplicity and exponential income. If you two have 8-10k a month coming in, your ability to get lending goes up dramatically.
For $250 you start a business. For one that is unheard of. From there you utilize the products, refer them to others and build a network of people doing the same. It is so simple which is why 3.5million people are involved worldwide.
My question here is....why either or? Why not do both.
6. Your right there is no evidence of this when looking up websites but here is how it works:
The PV(Point Value) / BV (business volume) model changes yearly to track the CPI product price increase which in turn reflects an increase in bonus commission for the 7500PV each year so 20 years from now the $ value of 7500PV will reflect the CPI at that time.
I noticed that based on the points you raised, you guys were not intending to take this path however I hope that the above has highlighted that there is more to this than meets the eye.
If you guys are open to it, I would suggest you go and check out a TeamMak information session at Castle Hill.
There is one tonight at 8pm-9pm. Picture attached.
As I am sure you both do with properties, go and do your due diligence on it and make an informed decision. I would hate to see you both miss out on an opportunity to make that retirement date dd-mm-4years earlier than our goal.
Look forward to hearing from you both.
And our final response:
Many thanks for your email and responding to our concerns.
We don't have much to add - as you would appreciate during our
conversation you had very accurately gauged that for us it will be a Yes
or a No. Unfortunately, in this case it will be a No.
Best wishes for your endeavours.
Phew.....it was the third time we were approached by someone for something like this. First time we heard and moved on. Second time could tell it was Amway and didn't bother responding (and this one was having been messaged by someone on Somersoft forums on the back of my thread on starting a business under Investor Psychology - I was told it was an exciting opportunity). Third time, got sucked in again......
I know there are a few proponents of MLM on here. I am not trying to create an argument here. Just want to say - how frustrating when these guys won't back off and get it !!!
If anything this girl who added me on FB and went on about her "businesses" has really lost credibility....