Posted by Nathan Torres on December 2nd, 2010 ~
0 Comments With so many different financial service companies around you may be wondering are they all legit. As covered in a recent article on the World Financial Group scam, I showed how this company was a legit and a real financial company. However the same is said about other financial companies and in this article I going to cover another company that has gotten a bad rap as being claimed as a big scam, Primerica.
Who Is Primerica
Primerica is a financial services company that coined the phase buy term and invest the difference. They are located in Atlanta Georgia and are the largest financial services company in the United States.
This company was founded in 1977 and has been a leader in helping people cut down high insurance cost and invest that money to work harder for them. On top of that they also offer a business opportunity that is nearly second to none. So you might be wonder with a company this great how could they possibly have ever been labeled as a scam?
What Primerica Does
Primerica has one business philosophy, and that is to help people cut down their cost by shifting them into a term life insurance policy and helping them cash out their costly whole life or universal policy.
Permanent policies will usually carry much higher premiums as a result and by switching to a term policy you’ll be able to cut down the cost of the monthly premium and invest the money that was in the cash value of your life insurance policy to a more suitable location like a Roth IRA or mutual fund.
This is obviously an easy way to cut down the cost in the long run but it can be a costly one if you’re not careful. One thing to watch out for when cashing a permanent policy in is the surrender period. For example, a variable universal life insurance policy will usually have a 10 year surrender period on it typically. If you cash the policy out before the surrender period ends you could end up paying a large sum of money to the insurance company depending when you close the account.
Another issue I’ve seen happen was were a client of mine had previously worked with a Primerica agent and the agent closed out their permanent policy and helped them set up a term life policy but in the end never followed through and helped them invest the money properly and the couple ended up spending all the money on a new car.
In the end Primerica is a legit and real company but just because someone is in financial services doesn’t mean they know what they’re doing. You have to take the time to research and understand all of your options before switch or it could end up costing you big.
Tags: Legit, Legit Business
Posted by Sara Lopez on December 2nd, 2010 ~
0 Comments Talking to my fitness trainer the other day reminded me of niche markets and how they’re central to so many small business’s success.
She is a multiple business owner currently who runs a successful restaurant and coffee shop in addition to her work as a fitness instructor and we were chatting about how she got started. Turns out her first small business involved measuring hot tubs and supplying hot tub covers – because no one else locally would come out to people’s houses and do that.
And that’s the key to finding a niche market that will provide the basis of a successful small business for you – finding and filling an unmet need.
Tags: Niche Market, Success
Posted by Nathan Torres on November 29th, 2010 ~
0 Comments If you’ve read my article on the World Financial Group Scams you would have learned why people think this real opportunity my be perceived as a scam in some peoples eyes. So in this article I thought I would go a little bit deeper and cover one of the real reasons why some people believe this company is a scam. In this article I’m going to cover the true reason that has helped WFG survive and become a financial giant, recruiting.
The Model Of The Business
Recruiting is the life blood of World Financial Group. Every company has a method to their marketing and with WFG it’s recruiting. In fact this financial giant recruits around 10,000 people each and every month alone making it one of the biggest growing financial firms around.
However in order to join WFG you will have to pay a fee of $100 and pass a background check. This is where things can become a bit confusing for some. Some believe it’s used to pay other reps for hiring new potential reps but this isn’t true.
Their are two main reasons for this fee, first off it cover the administration to get you signed up with the company, and give you a code number. However secondly and most importantly it’s used to create a boundary so only those that are serious about this opportunity will pay the fee. To prove my point I recruited an individual once and he was excited about joining the company but when it came down to putting his money where his mouth was and taking action he couldn’t do it. On top of that if they let everyone join for free you would have so many tire kickers who would join and quit before they even got started.
Why Recruit
So now that we know the type of marketing method they use you might be wondering why doesn’t this company just market their products like any other company out there? The reason for this has to do with the warm market approach.
Think about it if you were selling something would you rather make a 100 cold calls everyday and get a 100 no’s, or would you rather call up your buddy you’ve known since high school and show him a few ideas you’ve been working with. Personally, I recommend the second option.
However let’s take it one step further, with warm market recruiting if I call up my best friend say George, and we get together and he joins up with me and we go over and talk to one of his best friends, Billy, it makes it a lot easier for someone to break into someone elses warm market this way.
On top that this method of marketing is also a lot cheaper. Think about it, in order to make cold call you would have to buy a list of names, or market through billboards, or radio and TV ads. This method of marketing is very expensive and can cost thousands in marketing dollars, whereas recruiting cost are next to nothing.
Why People Believe This Is A Scam
However their is an extreme side to this as well. The down side to this and why people believe the World Financial Group Scam is real is because their are a few bad apple in the bunch. The truth is while working in the company I’ve seen this several times were people will recruit others just to get into their warm market and then once they’ve taken all they can they move on to the next person. This is a rather crude tactic and I would suggest avoiding people like this.
In the end if someone does ask to show you this opportunity take the time to check it out, you may surprise yourself. However look for successful people within WFG to help you. Finding a successful role model within WFG will give you a definite advantage and will help you from falling victim to those that want nothing more but to take advantage of you.
Questions? Leave a comment below.
Tags: Group Scam, Scam, Why People
Posted by Brian Reed on November 29th, 2010 ~
0 Comments Entrepreneurs think differently from other people. When technological changes make existing products obsolete, demographic and social changes alter attitudes, and political and regulatory changes adjust the playing field, most people complain. Entrepreneurs come up with solutions.
The Transportation Security Administration’s (TSA) introduction of the backscatter scanner and enhanced airport pat downs is a case in point. John Tyner became the latest Internet celebrity for his response to the new security procedures – the “Don’t Touch My Junk” video. Others opposed to the new rules sought to trigger a pre-Thanksgiving opt out to draw attention to the new measures. And the vast majority of Americans either grumbled their complaints or stoically accepted the latest indignity of air travel in the post 9/11 age.
Not so for entrepreneur Jeff Buske who saw a business opportunity in the introduction of the backscatter scanner. Buske invented a new kind of underwear. With part
Read more…
Tags: Entrepreneurs Think, Entrepreneurs Think Differently, Think, Think Differently
Posted by Sara Lopez on November 28th, 2010 ~
0 Comments Today is the Thanksgiving holiday in the United States. It’s supposed to be about getting together and giving thanks.
My contribution to the Thanksgiving holiday is to recommend a Google search on the correlation between gratitude and health. It turns out that there are indications that being thankful is good for us all.
Of course that’s not just for today, the holiday. That’s all year.
And here’s my picture for the Holiday, courtesy of Shutterstock photos, by Inigo Cia. This is a view of Half Dome from Yosemite Valley.
Posted by Rachel Garcia on November 27th, 2010 ~
0 Comments The customers are always important for business owners. They don’t want to lose their customers even when the market downs and couldn’t earn profit as much as they hope. There are days when the market downs, but the business owners can still sell their product and earn profit. They try to find the way to attract their customers and make them spend their money on their products. Based on the idea that customers are important, the business owners create promotional product to pursue their customers to visit their shops and spend their money on their products.
Promotional products has crucial function in business. It is not something new and also getting better from time to time. There are various ways that people do to promote their products. Their skill in doing this is also much better than the past.The competition in business world is so hard, many products are available in the market. If you can’t earn profit by getting more customers then what you can do is cutting down your production cost. Product marketing and promotion are now cost too much. To ma
Read more…
Tags: Earn Profit, Profit
Posted by Nathan Torres on November 27th, 2010 ~
0 Comments What to look for Acquire High end Watches(Part 2)
Trouble-free or perhaps Convoluted?
Present in watchmaking the way, your side effect is certainly numerous ability on simplified day showing in the engine watch, perhaps a date or perhaps moon-phase component (is usually recurring the year 2010). Usually, truth, businesses depicts exceptional parts prefer never ending photo calendars so split-second chronographs, that incorporate quite a few hundreds modest aspects hand assembled via the planet’s most produced watchmakers. Considering they can indeed be and thus labor-intensive, hard watches are expensive and as a consequence cherished for your feats they start to undertake.
Key on the other hand Spacious?
In of late, mens wristwatches have cultivated because if over health supplements; the companies broke the particular forty-millimeter-diameter screen a few years ago and are still moving themsleves. The explanation? Normally flavor. Present day’s sensation had become almost entirely determined by way of previous reissue associated with elderly Italian divers’ watch, that’s traditionally conceived important then it is image within murky Mediterranean and beyond. This da
Read more…