IBOA International

The Independent Business Owners Association International, Inc. (IBOAI) is the advocacy organization for North American Independent Business Owners (IBOs) affiliated with Amway®. The IBOAI advises Amway on every facet of the North American business, from products and promotions to operations and business guidelines. The IBOAI and Amway are dedicated to partnering for success with your input, support and participation.

Best Practices for October - Amway IBO Compensation Plan

Leading the Way Through the Amway IBO Compensation Plan

There are many different reasons for people to choose this business opportunity. It's important to remember that we all share a bottom line ... we're in the business to make money and be profitable!

This Best Practices message is about how to approach others in regards to the income potential to the Amway IBO Compensation Plan. Money most likely is not their only goal. Many people choose this business because it involved helping others and reaching out and connecting to them. It is a business opportunity that can be pursued with a spouse or other family members and friends. And every IBO may have different expectations for the amount of money he or she would like to make. For some, it might be enough to pay for children's educations. For others, it may be to earn enough for a spouse to quit a job. And for others, it may be economic freedom.

No matter the differences, it is a business. Being profitable is important.

So how do we talk about it with prospects? There is great income potential with this business, and it's easy to get overly excited in explaining it to others. Truth and accuracy are of utmost importance whenever we talk to others about the income potential in our approach to the Amway IBO Compensation Plan. Best Practices ensure that prospects receive helpful and, in some cases, government required information so that they understand the effort and potential associated with the business.

When talking about earnings with prospects, we can talk about how much we personally make in income from the business, or use authorized earnings representations provided that the required income disclosures are used where applicable. We also can share the annual numbers for the overall business (such as sales and the amount IBOs collectively earned in bonuses and incentives). It is important to remember that even implying that any of us personally earn more than we actually do is not acceptable. We should certainly not tell someone that he or she can earn large amounts of money just by working a few hours a week. This business is simple, but not easy. It takes effort to be profitable - just like in a business venture.

We all know that it takes time and effort to build a successful and profitable business - it's not something that can be done in a flash with a minimum amount of work. Building a successful business is challenging, and an achievement to be proud of. It should always be represented as such. Portraying it as something that doesn't require much effort does a disservice to prospective IBOs by setting them up with false expectations. It also minimizes the work of those who have built strong and profitable businesses.

This business, as it is, is a great opportunity. There is never a need to oversell it. Many of us have accomplished more than we had ever believed possible. We know the same can be true for current and prospective IBOs.

Keep leading the way in building your balanced business!