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Started By
Message
re: Primerica: full time income
Posted on 5/1/21 at 8:28 am to BamaCoaster
Posted on 5/1/21 at 8:28 am to BamaCoaster
quote:
60 or so to start selling Herbalife.
So you are telling me that the pyramid works based on that $60 alone?
Your words:
quote:
A pyramid scheme, by definition, makes more money from recruiting people to sell, than the actual selling of products
I disagree with you.
quote:
By your definition above, any business with a boss in sales who generates revenue by others selling is a pyramid scheme, and that’s retarded.
My definition is 3 layers with the bottom having the opportunity to add more.
My examples have:
Franchisor
Agency
Producer
If the producer retains the autonomy to personally hire and support a staff that will personally provide income... then it is a pyramid.
Yes.
Edit to add: mortgage companies in Georgia do not permit a sales team from personally hiring. They are w2'd from the agency. But the hiring practice and revenue principles are the same.
This post was edited on 5/1/21 at 8:31 am
1
Posted on 5/1/21 at 8:34 am to meansonny
I think the part you are missing is pyramid schemes do not have a bottom. Every new hire is incentivized to keep the pyramid growing. Traditional insurance and real estate do not work that way.
Posted on 5/1/21 at 9:18 am to SouthernStyled
quote:
think the part you are missing is pyramid schemes do not have a bottom. Every new hire is incentivized to keep the pyramid growing.
The ultimate distinction
Posted on 5/1/21 at 9:27 am to SouthernStyled
quote:
I think the part you are missing is pyramid schemes do not have a bottom
I dont think you know anything about keller williams, allstate, or state farm. And what do you think happens when a mom and pop mortgage company becomes a multi-locational and then regional mortgage company.
I get some of your confusion.
I see allstate agencies and primerica agencies with just the primary agent (no employees and no subs). It doesnt look like a pyramid. But that is by choice or competency.
But i also see an AllState agency with 2 locations and 100 sub agents (they were not all hired by the franchisee. And the subagents are not all directly supervised by the franchisee. There are at least 5 layers under thay franchisee.
Keller williams is exactly the same way. As the franchisee grows, a second location pops up with a full tree underneath. And then a third, etc..
Posted on 5/1/21 at 9:36 am to SouthernStyled
quote:
I think the part you are missing is pyramid schemes do not have a bottom.
I currently work for a fortune 100.
My senior branch manager has a district manager.
My district manager has a state manager.
My state manager has a regional manager.
My regional manager has a zone manager.
The zone manager has a department VP.
The department VP has operations exec.
And the operations exec has a ceo.
Who reports to a board.
Who reports to a mutual company.
Above me... there are no producers.
I can hire an assistant if i want the expense.
This pyramid is corporate america.
Again... the pyramid bad rap isnt based on the pyramid itself. But on the lack of skill needed in the recruits (qualifications and training) and more often than not... poor product (which is why they dont have capital for better facilities, hiring, training, and branding).
Posted on 5/1/21 at 10:04 am to meansonny
Congrats on being obtuse.
Pyramid scheme definition a form of investment (illegal in the US and elsewhere) in which each paying participant recruits two further participants, with returns being given to early participants using money contributed by later ones.
Google it.
Pyramid scheme definition a form of investment (illegal in the US and elsewhere) in which each paying participant recruits two further participants, with returns being given to early participants using money contributed by later ones.
Google it.
Posted on 5/1/21 at 10:06 am to BamaCoaster
quote:
Congrats on being obtuse.
Pyramid scheme definition a form of investment (illegal in the US and elsewhere) in which each paying participant recruits two further participants, with returns being given to early participants using money contributed by later ones.
Google it.
It is illegal yet you have current examples.
Think about it.
Posted on 5/1/21 at 10:24 am to MrFahrenheitDontLie
Primerica started out as A.L. Williams. Buy term and invest the difference was their motto back in the 90’s. I was lured in back then and gave it a try. Bill Whittle was a great speaker and very charismatic and said what I wanted to hear at that time of my life. Primerica was just coming onto the scene. They rented the Superdome for 5 days for their convention so that has to be legit, rig the? Problem was, I became a pariah to friends and family as I tried to sell the “dream”. How could anyone with half a brain not get this?
I think the original idea was right but you HAVE to recruit
I think the original idea was right but you HAVE to recruit
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