|Received:||7/17/2006 11:49:16 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:I have been an Indepedent Business Owner with Quixtar for the last five years. I work with a Training and Support team that helps me in achieving my goals in building the Quixtar business. My next goal is to reach the Silver level in this business by September 30th 2006. I work as a full-time IT Analyst and fit my Quixtar business during my non-productive time. When I first started with Quixtar, I was a student doing my M.S. With the help of the training and support team, I was able to build my business with a very busy schedule of doing my Masters and working on-campus to support myself. One of the biggest benefits I got from building my business with Quixtar is managing my time and improving my people skills. When I got started, I was provided with adequate information including profiles of successful IBO's within Quixtar. I was never compelled/forced in any way to start my Quixtar business. I follow the same principles when I sponsor IBOs in my organization. I provide my prospects with all the necessary information including third party companies' appreciation and what they have to say about Quixtar. My prospects are aware that this business requires work and their sucess is only dependant on their work ethic. I say it as a matter of fact, since that's what I do to build my own business. I do tell them that this is a people based business and every person has their own right to make a decision. When it comes to registering, I encourage all my prospects to get started with the initial start up cost and an intro product kit that would help them to get familiar with the products and also kick start their business with some points. This startup would come to anywhere between $100-$200 depending on their intro product kit. I have had prospects who got started without an intro product kit too and that amounts to $60. The people in my team who decide leave their business get back their entire money including the money the for the products if the products were bought within 6 months. With regards to the new rule, I will address only 3 issues: 1. Having a 7 day waiting period This issue can definitely affect the business of any growing organization. As mentioned above, whenever I get a chance to present this business opportunity to other people, I provide with adequate information and book a follow-up with 24-48 hours to take the next step. This is my personal opinion, if the prospect is ready to get started- they will get started right away. If not, I encourage them to get some more information so that they can make a better decision. However I still have the control of expanding my business with people who are ready to get started. I don't want to wait 7 days when they have a list of friends and relative whom they want to expose the business to. I have had people who joined after 6 months and immediately sponsored people- again it's the prospect's decision but I am still in control to expand his business. This affects profitability of my business in a big way. Whenever I am done showing the business opportunity to my prospect, I connect him/her to my mentor and also provide him an opportunity to attend weekly associations where he/she can meet other IBO's (both in my team and in other teams) and ask any questions that he/she may have. Providing them a list of IBOs and asking the prospect to contact them before getting registered can only hamper the work that I did if they decide to get registered with another IBO. 2. The requirement for specific earnings disclosures We do provide the SA-4400 including the average monthly gross income of an "active" IBO is what I share with prospects. I don't think there is a requirement for any other earning disclosures, since the plan is very simple. 3. The requirement for financial substantiation I keep track of my income for any tax claims but I don't find it necessary to disclose it to my prospects, since it has nothing to do with their success in this business.