Comment Number: 522418-04392
Received: 6/26/2006 7:16:45 PM
Organization: Independent Business Owner(IBO) affiliated to Quixtar
Commenter: Leonardo Gonzalez
State: MD
Subject: Business Opportunity Rule
Title: Notice of Proposed Rulemaking
CFR Citation: 16 CFR Part 437
No Attachments

Comments:

I have been an IBO for 4 years, of which have dramatically change the way I thought about business. My business has allowed me and my family to achieve some financial goals which supplements my income from a regular 9-5 engineer salary. My wive who is a stay at home Mom has been able to use our business as a mean to create addtional income by selling products and recruiting new people who would like to sell and create an organization of their own. In my own case I have used my business as a mean to also increase my leadership skills with people, my marketing skills, and my time management skills. I have not yet reach my ultimate financial goal, but I know that the IBO plan need when you work it. When my sponsor IBO introduced to this business, I had never been involved in any type of businesses or had any experience in running a succesful business on my own. I had some knowledge about network marketing but did not understand it until it was explained to me in detail by my sponsor and his associates. I was presented with an information package showing the business plan, I wa told that the it will take time for me to get results since it is a process of learning and applying what you learn. and I'll be honest, when I say that it has taken me some time to apply what I've learned but it has been by my choice, which I can sumarrize by saying that my business and any other business works only when you work it. and I was and I am aware that it's the only way it works. So, whenever I disclose this business with anyone I let them know first that it will take work and effort on their part if they desire good results, especially if they dont have any prior business experience. I also provide any prospect with literature on the plan which also discloses the average income for IBOs. at the same time I emphasize that becoming wealthy is not guaranteed and that it all depends on the individual to reach their goals, but that I will be there to help them achieve it. Whenerver the time to register someone new in the business, I alway explain to them that theres a about $42 required for registration of which can be refunded if they later desire not to persue their business, and on top of that there's recommendation of purchase of products and services which is optional. to address the proposed requirements I want to start with the 7-day waiting period. This requirement will not only slow down my business, but also my new associates business, because there's some instances on which the new associate wants to start their business the next minute after registration, and by waiting, their income and my business would be affected drastically. As I explained before, the information is given about the business and eventually the prospect is the one who makes the final decision to be in business and if they decide not to pursue the business they will also make that decision themselves. Requirements for References. typically I introduce people that are in my organization to the prospect so they can share their experince with them. some associates keep their personal info private and would not share it with anyone else, and that includes me. typically I invite serious prospects to a working session with existing IBOs so they can meet as many people as possible that are doing the business and having good results. Sharing Letigation list with Prospects. I would not know where to start, since I do not know any individual or cases. I'm pretty sure there are some but by showing this list to prospect it would scare them away, eventhough I'm not associated with any of those cases. Specific Earning disclosures. I typcally follow the SA-4400 example which sumarizes the procedure on how income is earned. it would take time, extra time if I wanted to explain further examples of income potential.Finacial substantation of my business. I typically do not tell the prospect of my finacial status in my bussines which is private.