Everytime I hear “Amway” I think of the movie “Go”.



“It’s not Amway. It’s Confederated Products. It’s a different company. A different quality of products.”

In all seriousness why go to W&R? Most people go there to get their license and then move on to one of the big wirehouses (at least that is what I have seen). But you already have all that so why not apply to someplace better?

What’s the draw to the financial world?  Why not just go open another burger joint or pick up another MLM?  Is the goal to build this book and then sell it right before you retire?  What do you consider a big book?  $20 mil, $50 mil? 

The reason I want to spend my last ten years until retirement building a book is for a few different reasons. Whether 20,30, or 100mill I’m going to keep producing until I retire in about 9 or 10 years and include in my retirement the passive income from a primarily fee based business. I might even sell the book if the right price is provided. Either way.

I was briefly in the business a year ago but left to help with my father-in-law in transitioning his company to an S Corp. I liked the securities bizz and enjoy the challenge of building another business. I love building things from the ground up and always have. I’ve never held 9-5’s. Only built businesses all my life.

I don’t want to build anymore restaurants. I don’t want to shell out that much capital so that I can deal with the headache associated with it such as crew training, finding property, building a customer base, city codes, insurance, workman’s comp, etc. We have managers who run our two for us and that’s enough. My presence is only there to fix problems and put out fires.

My Amway business is terrific. We have a close family friend who is an Executive Diamond in Lake Norman NC and my team has a 28 year old who’s been retired since 22. Look up Paul Kopecky if you want to see what I mean. Paul and I were at Old Chicago pizza the other night and the freedom that young man has is unbelievable. He’s an Entrepranuer. If a person is ignorant and/or closed minded then that’s their loss. Myself and several others profit greatly from the company and I love the oppurtunity they provide. Amway is second only to Microsoft in this country for creating millionaires.

I chose Waddell and Reed because I don’t care where I work to build a business. I can do it through any firm. I don’t cry and moan and worry about stupid details and opinions. If I’ve survived building two restaurants from the ground up and developed a pretty big Amway group with no guarantee of income my whole life than I will build a book of business at Waddell and Reed.

I’m seeing three types of members to this forum.
1. The young mouthy 20 something who has nothing positive or constructive to say on this forum who thinks they’r an entrapranuer but will most likely fail because of their bad attitude and lack of correct mental programming.

2. The burnt out 3rd or 4th year rep looking to vent and contemplating leaving thier current firm and/or leaving the industry.

3. Experienced FAs who provide good advice and opinions. These people are the reason I and most others are here. The key is filtering the junk posts and negadowners.

Some FA’s in this business are truly entrepranureal and are succesful because of their mentality. They would have succeeded in building any kind of business whether it’s retail, restaurant, bar/club, car lot, or anything. But most FA’s are employees stuck in an entrapranuer’s world parading around like they are business owners but will always have the W-4 Mentality. Over 90% of FA’s fail. Over 90% small bizz owners fail too.

There may no doubt be some very successful people in the MLM business, but almost all the people I’ve come across that are a part of them seem to have the same “personality”.  None of which I would consider going to the bar for a couple of drinks with.  All seem to look down on those who aren’t “their own boss” or “answer to The Man”.  ‘Get the chip off your shoulder, Jimmy’, is usually the thought that runs through my head.

I can’t speak for other groups out there but our team approaches things a little differently. We don’t sell anyone into the business; we look for people who are looking for opportunity by checking interest. Most people prefer to work for a boss and feel safe and secure in a corporate environment. Most people have an employee mentality and there’s nothing wrong with that so coming down on someone for choosing to work for someone else instead of for themselves is wrong.

Amway Global did 8.2 Billion in sales last year, adds an average 12,000 IBOs (Reps) daily. The company has been around since 1959, is like Amazon.com by allowing you to buy just about anything imaginable through the AG Website, and thought highly upon by many reputable people such as John C. Maxwell, Robert Kyosaki, John Sustina, and David Barton. Heck, Amway Global even owns the Orlando Magic. lol

I’m not trying to present an advertisement for the company and MLM as a whole but I think I deserve to put my two cents in since the majority of opinions on the web are unfounded, inacurate, and down-right negative. Please excuse me as I vent:

Sceptic: “So and So tried it and they quit so it must not work”
Reality: "Someone signed up, realized it’s very hard after working at it, quits, and says it doesn’t work. Most people fail at being an FA and the securities business. Does that mean it’s a scam? I heard some guy named Bernie Madoff had a Ponzi Scheme so Wall Street must be a scam. I hope you get the sarcasm. 

Skeptic: It’s a pyramid Scheme
Reality: I make more money than my upline. I don’t make a penny for registering a new person. Amway Global rewards me when my downline succeeds. At a company your boss makes more when you perform, your bosse’s boss also benefits, and his boss, and his boss, all the way to the top. Is corporate America a pyramid scheme? It’s got to be because they make money off the people they hire. It’s a pyramid I just know it.

Skeptic: There’s tons of bad reports about Amway and MLM! I hear nothing but bad news about those companies.
Reality: The media and web blogs is nothing more than a cesspool of negativity, bitterness, disbelief, critism, and just overall poison for your mind and potential. We live in a country that went from capitalists with big dreams to a nation full of lazy sckeptics who let fear keep them from ever doing more with their life.

Entrapranuership is not for the lazy and weakminded. It is a mindset that consists of seeing failure as the road to success and doing what is not popular. I do not have a boss nor do I want one. I love the freedom and wouldn’t work for a boss even if my income would double. Freedom is worth more than money.

I’ve got no problem with Amway.  However, it is a pyramid scheme.  Comparing it to corporate America is ridiculous.  People who work for corporate America get the bulk of their money based upon their salary.  Successful Amway reps get no salary.  They make their money primarily based upon what their downline sells.  I don’t have an issue with pyramid schemes, but to try to argue that Amway isn’t one or Corporate America is a pyramid scheme makes one have to seriously question your credibility.

And thought it was the Jones guys who were the biggest Kool-aid drinkers!

Here’s my problem with Amway reps:

Amway rep to me:  You know, you look familiar.  Did you go to so and so school, or work for so and so. 

Me:  No

Amway rep to me:  What do you do for a living?

Me:  I’m a noga farmer

Amway rep to me:  Oh, I heard that’s very good business.  Are you open to earning money outside of that?

Amway used to be the only MLM specifically mentioned in our compliance book.  They were OK with associates running an Amway biz, but not Pampered Chef, et al.  I have no problem with MLMs in general.  I’ve found that most people that start their own MLM biz just end up spending the money they make at other people’s MLM parties.  Are there some successful ones?  Yep.  But those folks are sales people devoted to their trade and would most likely be successful at whatever sales job they take on. 

[quote=Spaceman Spiff]Amway used to be the only MLM specifically mentioned in our compliance book.  They were OK with associates running an Amway biz, but not Pampered Chef, et al.  I have no problem with MLMs in general.  I’ve found that most people that start their own MLM biz just end up spending the money they make at other people’s MLM parties.  Are there some successful ones?  Yep.  But those folks are sales people devoted to their trade and would most likely be successful at whatever sales job they take on. 

I can’t speak for other groups out there but our team approaches things a little differently. We don’t sell anyone into the business; we look for people who are looking for opportunity by checking interest. Most people prefer to work for a boss and feel safe and secure in a corporate environment. Most people have an employee mentality and there’s nothing wrong with that so coming down on someone for choosing to work for someone else instead of for themselves is wrong.

Amway Global did 8.2 Billion in sales last year, adds an average 12,000 IBOs (Reps) daily. The company has been around since 1959, is like Amazon.com by allowing you to buy just about anything imaginable through the AG Website, and thought highly upon by many reputable people such as John C. Maxwell, Robert Kyosaki, John Sustina, and David Barton. Heck, Amway Global even owns the Orlando Magic. lol

I’m not trying to present an advertisement for the company and MLM as a whole but I think I deserve to put my two cents in since the majority of opinions on the web are unfounded, inacurate, and down-right negative. Please excuse me as I vent:

Sceptic: “So and So tried it and they quit so it must not work”
Reality: "Someone signed up, realized it’s very hard after working at it, quits, and says it doesn’t work. Most people fail at being an FA and the securities business. Does that mean it’s a scam? I heard some guy named Bernie Madoff had a Ponzi Scheme so Wall Street must be a scam. I hope you get the sarcasm. 

Skeptic: It’s a pyramid Scheme
Reality: I make more money than my upline. I don’t make a penny for registering a new person. Amway Global rewards me when my downline succeeds. At a company your boss makes more when you perform, your bosse’s boss also benefits, and his boss, and his boss, all the way to the top. Is corporate America a pyramid scheme? It’s got to be because they make money off the people they hire. It’s a pyramid I just know it.

Skeptic: There’s tons of bad reports about Amway and MLM! I hear nothing but bad news about those companies.
Reality: The media and web blogs is nothing more than a cesspool of negativity, bitterness, disbelief, critism, and just overall poison for your mind and potential. We live in a country that went from capitalists with big dreams to a nation full of lazy sckeptics who let fear keep them from ever doing more with their life.

Entrapranuership is not for the lazy and weakminded. It is a mindset that consists of seeing failure as the road to success and doing what is not popular. I do not have a boss nor do I want one. I love the freedom and wouldn’t work for a boss even if my income would double. Freedom is worth more than money.

I had to look it up:

Aames, who starred in the TV series “Eight Is Enough” and “Charles in Charge,” and the movies “Paradise” and “Zapped,” recently appeared on the VH1 reality TV show “Broke and Famous: Willie Aames” to discuss his own financial troubles.

Aames described how he was left homeless and had to sleep under bushes and in parking garages after his wife and daughter left him. Aames later reunited with his daughter and studied to become a financial planner. He has passed three licensing exams and a training program given by the Overland Park, Kan.-based financial advisory firm Waddell & Reed.

"He’s gone through an internal training program over the span of the last eight to 12 months," said Waddell & Reed spokesman Roger Hoadley. "He’s passed his Series 7, he’s passed his Series 6, he’s passed his health and life examination. He was just activated at the beginning of this month. He is now trying to build his own financial planning practice."

Aames will be at a kickoff event at Waddell & Reed on Jan. 20, according to a report by local station KCTV.

Hi Client, I'm your new Financial Advisor.

I’m not surprised that my openly admitting that I’m an active IBO with Amway Global is received with sarcasm, criticism, negativity, and unfounded opinions. I’m paid pretty well passively because of it; not a ton, but enough that will help supplement my retirement nicely. Amway is growing and will continue to grow whether you’re on board or not. Amway will still continue to make people who work hard at it very wealthy, whether you get on board or not. Large companies are seeing the value of growing their non-retail business and the profit potential coming from direct marketing and revenue sharing. This is a growing business regardless and if most people are too closed-minded and negative to see the potential than that’s their loss. I’m getting paid and so are many people. Some people are paid VERY well.

Is there anyone on here who ACTUALLY WAS an Amway IBO and can give specific reasons for their negative opinions? It’s always the same stupid knee-jerk reaction response to Amway: “it’s a scam!” “It doesn’t work” “It’s a pyramid”. “I knew a guy once who…” But these people know very little about what we do. Oh well.

http://www.youtube.com/watch?v=ZZQqyVG5czQ


Spaceman: I believe the easy way to ask your question would have been “How do you plan to service your clients and receive residuals if you’re retired?” I will do what many FA’s do when they retire whatever that is. I’ll wory about that when I get closer. Perhaps I’ll hire a minion.

About Waddell and Reed hiring a bum, so be it. I think it’s funny. Every B/D has it’s benefits and shortcomings. If someone fails at WR it’s not because they hire bums or don’t have mainstream commercials.

“I’m not surprised that my openly admitting that I’m an active IBO with Amway Global is received with sarcasm, criticism, negativity, and unfounded opinions.”

Honestly no one cares about your Amway experience. Is the company set up as a pyramid? Yes. Is it a pyramid scheme? No.

Again I go back to why W&R? If you already have main licenses why not go to an Indy shop or a small regional house?

Also I think you should keep in mind your future plans. To say “I’ll do whatever other people do” shows arrogance and ignorance. Find out what your future options would be so you don’t screw over your clients by leaving them without an advisor.

If you know you’re going to retire in 9-10 years and money right now is not an issue, I suggest looking seriously at Edward Jones. There you can grow a business without having a BM watching your every move and they have some decent options when it comes time to retire. Also they don’t have household minimums.

Just be sure that when you’re asked how you plan to prospect, tell them about all your Amway contacts.

Spaceman: I believe the easy way to ask your question would have been “How do you plan to service your clients and receive residuals if you’re retired?” I will do what many FA’s do when they retire whatever that is. I’ll wory about that when I get closer. Perhaps I’ll hire a minion.

[quote=mlgone]“but a severe level of egotism that will not suit you well in this business”

Please see my early January related comments on this Board titled Waddell & Reed (in several parts).  In a nutshell, I joined but left shortly after getting my licenses.