Income Claims – WHAT Are They?!
You may have heard about something called an “Income Claim” and thought you understood it, or maybe you didn’t. I’m here to shed some light on what an Income Claim is, how to handle it, and how important it is to understand this topic – seriously!
An income claim is a statement about a company’s income earning opportunity. There is nothing inherently wrong with a comment about PlanNet Marketing’s Compensation Plan or the earning potential. The claims we must watch out for are the ones that might cloud a person’s judgement. We want our Reps to join PlanNet with a clear head and a full understanding of the effort and time required to make their business a success.
Here are some examples of Non-Compliant Income Claims:
“Come Learn How to Earn 6 Figures”
“Sally Smith just gave herself a $12,000 raise!”
“I replaced my income with my part-time home-based business.”
Each statement makes a claim about income earning potential. The statements might all be TRUE, but the rule of thumb is not whether the statement is true – but is it representing the AVERAGE earnings of a Rep with PlanNet Marketing? In all of these cases, the answer is no.
Making statements about earning potential, or even lifestyle potential (retire early, pay off your debts, buy a dream home) might entice prospects to join PlanNet to achieve the “American Dream” or any dream, without consideration for the level of work and commitment necessary to achieve those results. We want to ensure that anyone joining PlanNet Marketing as a Rep is doing so with an accurate understanding of earnings potential and a game plan for success. Prospects don’t need to be seeing stars, or dollar signs, just to catch the vision.
I previously shared a copy of the PlanNet Marketing Income Disclosure Statement (IDS) with you all. If you are speaking to someone about joining our business – please point them to the IDS at some point BEFORE they enroll as a Rep. You don’t have to comment on it, you don’t have to be able to answer questions about it (I can do that!), you just need to share it.
2018 PlanNet Marketing Income Disclosure Statement
Income or lifestyle claims, even when true, that are not backed up by disclosing average earnings (or simply sharing the company’s IDS) leave PlanNet Marketing and our Reps open to liability. Let’s work together to safeguard our company and keep it the BEST place on the PlanNet!
-- Policies and Procedures Section 3 and 4.4.A, located in your Virtual Office in the Information Center (go to Resources, then Policies and Procedures).
~Amanda Restivo, Vice President, Compliance -- arestivo@plannetmarketing.com