What to like about Amway MLM
Having a business that’s 52 years old is an enormous accomplishment. Amway must be very proud. The downside is, the bigger a company gets the more controversies and lawsuits it receives. Take for instance the rumors about Amway MLM being a cult. Ridiculous as it may sound to some people but that actually made a buzz. Tax evasion cases and pyramid scheme accusations were just some of the bumps that Amway encountered on their way to 52 years.
Controversial as they are, Amway has 3 million Independent Business Owners in 80 countries. Having faced “literally thousands of lawsuits”, according to Amway lawyer in 1985, Amway remains one of the top MLM companies.
Over 50 years in the business equals stability
Running your own business may sound very glamorous. What most people fail to factor in is the struggling years, the time it takes to build a trusted name in your chosen industry. According to reports and statistics, most businesses take about 2 to 3 years before you start seeing a return of investment.
Amway is not different. From an independent survey, about 40% of past and present IBOs say that you start actually earning on your 2nd or 3rd year with Amway. These are IBOs who worked full time (8 hours a day). They say that carrying a brand that’s already known helps in the selling, even recruiting.
15.3% of IBOs who were already with Amway when recession hit report that they didn’t think their MLM business was very much affected. They feel that Amway being more than 50 years in the business kept them secure throughout the recession.
Training and motivational materials
While most feedbacks about Amway by previous IBOs online find that they spent more on training and motivational materials, about 3% report that these were actually very helpful in their MLM business. Take note that these 3% also put in 8 hours a day as IBOs.
In online forums, a number of previous IBOs, who stayed with Amway for less than a year, found that the DVD and other training tools they bought, referred as Business Supply Materials (BSM) and Professional Development Program (PDP), helped them in their following MLM business.
Amway also has The Learning Center. Available online to members, The Learning Center is the IBOs’ university. Here, they can view various videos on improving sales skills, and receive online instructor-led training. In other words, The Learning center is the IBO’s 24-hour support for their MLM business with Amway.
The International Business Owners Association International (IBOAI) serves as… sort of an IBO watch, and IBOs’ voice. To make sure that IBOs do only ethical MLM business practice, the IBOAI has various resources that members can refer to and review.
From tax guidelines, speaker’s tools, bookkeeping, health tips, and music copyrights, the IBOAI makes every resource available to their IBOs to make sure that no member violates laws against fraud or pyramid schemes.
The content of Amway Rules of Conduct also gears towards distinguishing the Amway business opportunity from pyramid scheme. IBOs are required not to claim more income than they actually make as an IBO, or promote the opportunity as a “get-rich-quick” business.