Comment Number: 522418-10428
Received: 7/16/2006 1:24:25 PM
Organization: Amazing Shopper
Commenter: Mike Steeno
State: WI
Subject: Business Opportunity Rule
Title: Notice of Proposed Rulemaking
CFR Citation: 16 CFR Part 437
No Attachments

Comments:

I've been an IBO for 10 months. The next goal is Eagle. Besides making money, this business has proven to offer us a better lifestyle in our marraige and family life as well as meeting new people and making new friends. When we first started we received all the info we asked for and that we did not ask for. We provide the same info to our prospects. We tell prospects that they need to do what is taught and they will succeed. We show them the guidelines on the business overview regarding how much money they can potentially make in a given amount of time. We also explain that this is not a get rich quick scheme or a pyramid. Our new IBO's typically spend about $100.00 to register. We believe that a 7 day waiting period would slow down the growth of our business. If this 7 day waiting period would be for purposes of allowing the prospect to have time to check out our business befoe they join, I believe it is unnecessary because from the time I showed them the plan to the time they are ready to register I have already showed them several ways to check out our buisness and they typically take at least 7 days to registe anyway. First impressions are always important and I believe that having to show references would throw up a red flag to prospects because they would immediately think that they don't know anybody to use for a reference. Every time we attend a function we invite prospects to come as guests and they have a good experience of meeting new people at that time. They don't need a reference list because of this. As for a litigation list, we already tell our prospects to check us out with the Better Business Bureau and several websites so they are adequately informed before they register. Earnings disclosures are not needed. Your earnings are personal. You don't ask someone else at a job how much money they are making so why do it here. Some prospects ask us but we tell them that we are right on track with how far we should be on the income level according to how much business activity we have done. We also inform them that as an IBO they can pass anyone on the income level anyway. This would again set up a red flag and even slow down our presentation. If the presentation gets too long people will lose inerest as well. We generally tell people that we are continuing to grow our business, and we are having a lot of fun meeting new people, making new friends, and looking forward to early retirement. We realize that guidelines need to be set to insure people that they are not getting into something they would regret. However, we believe there is enough information provided to them now and if these new rules go into effect it will drastically slow down our business or possibly even cause us to discontinue it therefore taking our dreams away and having the same effect on a possible multitude of future prospects who also would love to have a new opportunity to realize their goals and dreams. Please reconsider putting these new rules into effect and possibly taking away the dreams of thousands and thousands of people. Thank you very much. Mike Steeno