| Comment Number: | 522418-06691 |
| Received: | 7/7/2006 1:16:21 AM |
| Organization: | Quixtar / World Wide Group / Taclo Free Enterprises |
| Commenter: | Jimmy Talarico |
| State: | MT |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
First of all, thank you for your work in keeping our industry honest and ethical. We appreciate your efforts in protecting the consumer as well as the small business owner. I have only a few comments about the new law being proposed. I want to start off by letting you know that the financial advice I've received through our mentors in this business has allowed my wife and I to be 28 years old and only have a house mortgage for debt. We have three degrees and two automobiles between the two of us and now have a 3 month old son. My wife has been able to fulfill her dream of being a stay-at-home mom because of the things we learned through our line of sponsorship, ie. live below your means, delayed gratification, serve others needs before your own, etc. Our marriage, as well, is strong and healthy because we were taught to have a common dream and vision to keep us both moving in the same direction together. On specific topics now. The seven day waiting period would serve no purpose for prospects because, in fact, the process from contacting a prospect to registration already takes a month or two before a clear decision is made. On the rare case that a prospect decides immediately, we make every accomodation available to them if they decide to quit, including refund of money. The idea of providing references to me seems more like an annoyance for all involved. I'm busy with a 40+ hour/week job and my business on the side already. I shouldn't have to take more time away from my family to answer questions for a prospect that will make no positive financial impact on my family. For example, it is almost 11 p.m. and I'm writing this now because my wife and child are in bed. And who is to say that a prospect that I may have invested hours into will not decide to register through one of my references because of their conversation? Besides, most prospects are introduced to this business through group meetings where they hear first hand accounts already. As far as the "litigation list", would you require Microsoft to disclose all of their litigations on the side of their product box? This seems like an ubsurd request for Microsoft and for me. Specific earnings disclosures. Our business literature already states the average income for an Independent Business Owner in our business. This is more information than my boss disclosed to me when I became an architect. Requirement for financial substantiation. Would I have to disclose my bank statements to prospects to be "honest" enough about our earnings? The great thing about our business is that people will know they are being lied to if they don't make any money. That isn't dependent on how much I make, but on their work habit. I hope these comments give you a little glimpse into our industry and the difficulties of being an independent business owner already. I understand the need for shutting down illegitimate businesses. But maybe you should provide endorsments for legitimate businesses instead of making it more difficult for everyone. How much easier would your job and mine be if we could send a prospect to your website so they could see a list of credible businesses instead of adding more hurdles to every business out there now? Our goal is to help people obtain financial independence through a business that doesn't break God's laws or man's laws. Please don't make it any more difficult for the family I'll talk to tomorrow to realize their dream.