Diamonds are of an IBO’s best friend: How to reach diamond distributorship in Amway
For serious multi-level marketing entrepreneurs, the goal is to reach the top positions of the company’s levels of distributorship. In the Amway compensation plan, that’s at least the Diamond distributorship level.
It’s a well-known fact that in MLM, recruiting representatives are a must, on top of acquiring customers, if you want to earn bigger profit. Let’s breakdown what an IBO must achieve to be a Diamond.
A Diamond Sparkles – The Diamond Rewards
First let’s look at what the Amway Diamond fuzz is all about. Qualified Diamonds are eligible to receive:
25% Performance Bonus
Why is that a big deal? Amway’s compensation plan involves Business Volume (BV) or the amount of orders you make; Point Value PV, points assigned to each product; and Performance Bonus (PB), the commission you earn from the combination of the PV and BV basing on their Performance Bonus Schedule (PBS).
From third party resources, 100PV is roughly equivalent to $200. In the PBS, to achieve the 25% PB, you need to get 7,500 PV. That means you need to have a BV of $15,000 in a month. The average price of an Amway product, basing on their website’s best sellers, is about $20. Therefore, you need to sell at least 750 items.
Annual Emerald and Diamond Bonuses; the Annual Diamond Plus Bonus If You Have 7 or More Qualified Groups
Every year, Amway pays an Emerald, Diamond, and Diamond Plus Bonuses. These are given to the qualified distributors following their guidelines on how the bonus would be paid out. The bonuses are equivalent to .0025% of the total North American BV and .0025% of qualified international volume. Note that although the rates are just a fraction of 1%, we’re talking about international volumes here.
Participation in the Emerald Profit Sharing Bonus
This is simply additional funds to be awarded to qualified recipients basing the Emerald Profit Sharing, Emerald, and Diamond Bonus Schedule.
Other rewards for Diamonds include “a Diamond pin, participation in the annual Growth Incentive Program published each year, [and] other recognition, such as acknowledgment in an IBO publication.
Polishing a Rough Diamond – How to Qualify
Needless to say, before you get those rewards, you need to qualify first. So what does it take to be a Diamond? According to the Amway Compensation Plan:
You can qualify as a Diamond if you personally, internationally, or foster-register 6 or more groups (3 must be North American), each of which qualifies at the 25% Performance Bonus level for at least 6 months of the fiscal year.
That’s just 2 qualifications you need to meet to be a Diamond in Amway. But obviously, at the Diamond level, you go international. Plus, each group that you register needing to have maintained a 25% PB for at least half of the fiscal year is a huge pressure on your part. That, evidently, means you should be great at motivating and supporting your groups.
Before becoming a Diamond, there are about 11 positions you need to pass. It doesn’t end there, though. After Diamond, there are 7 more leadership levels in the Amway MLM, each having more qualifications, but definitely more rewards.