Business Opportunity Rule #522418-12253

Submission Number:
522418-12253
Commenter:
Hari Narayanan
State:
MA
Initiative Name:
Business Opportunity Rule
My name is Hari Narayanan. My wife and I have been building our Amway/Quixtar business for over 15 years. Even though this is not our full time business yet, we are working our business to get to a financial level that we will have a choice to go full time in this business. We are Sapphires in the business. Our next goal is to become Emeralds and Daimonds in the business. We can only accomplish this by helping 4 others to become platinums in this business. We accomplish that by investing our time and effort. Some people do it right and others do it wrong. Some people work it slow and others work the business faster. There is no comparison among people. I believe this FTC regulation is not fair to businesses and take away te ability to be financially independant in this free country. The requirement for financial substantiation: When we talk to prospective IBOs we present them the opportunity for them to make the money that they are willing to work for. First of all what I make in my business is very private. Just like I don't disclose my job income to anyone when I talk to them I shouldn't be required to disclose my business income either. People lie about their income in everything - from Corporations to individuals. Forcing an entrprenauers to disclose their income may not be a fair thing to do. Besides the income comes with work. Just disclosing the income is not acceptable. The requirement to provide a "litigation list": If every business is required to provide a litigation list to their clients the entire trade will collapse. Not just my business. There is a lot of litigation against air transport companies, computer companies - that doesn't mean people don't travel or buy computers. It will bring the enitre industry to a stand still. Even if the information is provided to people, not everyone has the ability to process the information. I believe by giving the information I am taking away the best opportunity that is available for any normal person to be free in this country. The requirement to provide references: I believe, because of my sucess in this business I will be asked to give references to propective IBOs. It will be a nightmare for me to take my creative time in my business to give referals to uncontrollable number of calls I will be getting. It will slow my business just to take care of other's legal requirements. If I don't have the time to return the phone calls I will be taking away the opprtunity away from some one to create wealth through their effort in this free country. Success and failure are two sides of the same coin. The requirement of a seven-day waiting period: This is like driving a car on a brush road with a huge trailer. It is a sure death to any business. It is like asking a client in a store to look at a product, get information about the product and then wait 7 days before they can buy. I believe people are smart. They have the ability to process information. In our business we give money back guarentee to everything we do. Every IBO can get their money back after they get into the system. They have more than 7 days to do it.