What is the Amway business about?
You might be here because, be here for a couple of different reasons:
- Someone you know asked if you were looking for ways to make extra money
- A person that you just met asked you if you wanted to make some extra money
- You were invited to a meeting to learn about a business opportunity
How do I know this? That’s because I used to be involved in the Amway organization and was an IBO (still am currently).
IBO stands for Independent Business owner. Anyone that asks you these questions or invites you to a meeting is more than likely an IBO hoping for you to join their team.
You may feel like this is a scam. You may feel like this person is hiding things from you. You may even have doubts that this even works. You think that Multilevel marketing is a pyramid scheme.
But know, that Amway is not a scam and is a business model that most people could try to actually succeed in. Yes, Amway business model falls under Multilevel Marketing. I learned a lot about my self and what it actually takes to succeed in life. Even more so, I learned how to run a successful business and learned essential business skills that I would never have learned if I had not made the choice to join.
But here’s the deal
It’s going to take some time to really start making money with Amway that you can actually depend on. There are also a lot of hidden costs that your current income may not be ready for or maybe it is. That’s for you to figure out and learning how to run your own business will help you do that. At first, you may not see any returns from the money you invest into the Amway business model and training materials. But know, you only get better by applying the knowledge that you learn.
The cost of starting an Amway Business
Let’s do a break down on what it costs to run your own Amway business:
In order to get a return on the bonus that you have created so far, you must have a minimum purchase of 100pv. Every 3$ is the equivalent 1pv point. Keep this in mind when searching for products. Some products earn less than other products, so it’s in your best interest to create a budget that allows you to afford these items.
It’s easy to afford the products offered through Amway when you go from the perspective of replacing the item’s that you already buy, with Amway products. This is one of the key principles in being successful with Amway.
The tools and outside materials can range from 40$ to $60. This is usually in the form of educational materials in the form of podcasts, videos, and seminars. You can only access the information through a mobile app, so you must have a working smartphone in order to have access to the Apps.
There are also many partner organization’s within Amway, so I gave an estimated range on how much this will cost. 60$ a month is what I had to pay after the 2-month free trial. I found this taxing to me because I was a college student working a part-time job. My part-time barely even covered rent. I found myself rarely ever accessing the information on the apps. So kinda just let my card expire and use it as a placeholder so they could not bill me anymore. I didn’t want to pay for digital materials that I could get for free through the use of Soundcloud.
**Check out one of my favorite Business podcasts: The MFCEO project**
The conferences and seminars
One of the most beneficial things that I found about being part of Amway were going to the seminars and conferences. This is where my mindset began to change. It was at these conferences that I gained live knowledge and information that I still use today. I was inspired and motivated like no other. I do not know what about these events that I find so special. It could be the speakers, the people that I meet there, all the stories that I get to hear and see. All the high energy and positive vibes there is one of the things that inspired me to change and keep trying to better than I was yesterday.
“I wasn’t there for the money, I was there because I wanted to know how to change my life”.
I the conferences and seminars, I would listen to the speakers and come up with so many new ideas. So much information that did not only help me in Amway but, I could apply that information to help me in my other businesses. With the knowledge that I learned here, I know make more money selling my own products than I do selling Amway. Not only that, I learned how to truly market products. Network marketing is what led me to affiliate marketing.
How to make money with Amway
There are 2 ways to make money with the Amway business model:
Way #1: Market and sell Amway products:
When you buy or sell the products that are offered by Amway. You have the chance to sell those products at the retail price to make a profit. For example, a bottle of Legacy of Clean laundry detergent is 40.99, for the cost to the IBO. The IBO gets to decide how much they want to sell the bottle of laundry detergent for. You could adjust the price of the detergent at the same price you bought the detergent for or you could price a few dollars higher.
IBOs also get their own website as well and can decide the price they would like to charge. However, the price cannot be adjusted lower than what the IBO would pay. In the grand scheme of things, directly selling away products will not be very profitable for you unless you are constantly gaining new customers. Unless you are good at marketing, which is a skill that you can learn, will a very hard route to take.
The website you get is customize-able, but the options are limited. So your website might not look much different from the way your sponsors website.
This is far the best way to make money with Amway, but it is also the hardest. Building a big team is the key goal when trying to make money with Amway. In order to build a big team you have to:
- Contact potential members
- Schedule appointment’s
- Get them to weekly meeting’s
- Sign up the prospect as an IBO
- Repeat the steps above
Not only that, when you have to get your team to do the same thing. That is the only way to really make money with Amway. The steps are really simple, but the amount of work that you really have to do and the time you have to invest is tremendous. If you stick with Amway and apply everything you learn and are in constant contact with your up line. You will have no problem’s being successful with Amway.
When you have many people on your team and the people on your team have people on their team. Is when you start to see performance bonuses as well. You are incentivized every time you reach a new level of growth within your team. This is determined by your monthly personal volume (pv).
When you grow your team, you get both monetary rewards and special access to select trips within Amway and within your own organization. Amway really rewards you for going the extra mile and growing your own team. It will take years your build your team to the platinum and diamond level. You just have to be determined to get there and so focused that you do not anything stop you.
Focus on your own personal development
You have to do a lot of growing as a person inorder to grow a large team. Anyone can become a leader, but you have to become someone that people want to follow. While Amway is not the only way to start your own business. You get the tools to succeed and mentor that hopefully want to teach you the leadership skills you need in order to succeed. This is one thing that really stood out to me about network marketing. I think everyone would benefit from personal development. This is just me talking, but I think personal development should be taught in our school system as well. I discovered that I had to really change myself first, into something people wanted to know, meet, be inspired by and follow.
I never really got that from my family, grade school, or from my 5 years of college. It was something that I had to learn and develop on my own. I began to learn it from the conferences that I would go to, the video that I would watch, the podcasts that I would listen to and the books that I would read. “It’s only when you start to work on your self harder than you work for somebody else, is when your life and income starts to change”.
That’s what Amway teaches and why it stands out from many other Network marketing companies. This is one main reason’s why I recommend Amway to people to at least try. Even if you don’t stick with Amway and not make much money at all. You can use the skills that you learn here to help you build any successful business or career that you want. I wanted to that by building my own businesses.
If you are interested in building your own business, but not necessarily interested in building an Amway one. I would recommend checking out my post about affiliate marketing here. With affiliate marketing, you are not limited to what you’re able to sell and you do not even have to buy the products yourself just to sell them. You could get all the personal development information from the internet or books. And you could get the training from Wealthy Affiliate. Almost everything that I know about building websites, getting traffic to those websites, and how to market products. Has been from the training and tools offered at a wealthy affiliate.
The best thing about wealthy affiliate is that you can try it for free and you can access it anywhere. You do not have to waste your time going out to meetings or contacting random people. Because this is a business that you can run from anywhere and you only target people that want to.
Become your own boss today!
If you do decide to upgrade to premium, let me know, because I have a gift for you!
The choice is yours.
I hope you choose to live life on your own terms.