I like to reflect back on the days when Marybeth and I were starting our Amway Business. We had very strong reasons why we wanted to start a business of our own. We all have different reasons to start a business of our own.
For some, that may be to start selling high-quality products to customers, that you personally love, with the objective to earn a modest part-time income. Perhaps starting and growing a business might fill a need to supplement the family budget or start setting aside some money for the kids’ college education. Single moms, college students, retirees, or busy professionals all have reasons to expand their income options. I am convinced that this Business gives people so many options to achieve their economic goals. Why do I believe that? The Amway Business is proven and has thrived for over six decades.
Amway offers high-quality products that customers look for and appreciate. All products, with a few exceptions, carry a 180-day Satisfaction Guarantee. Amway offers extensive product and sales training under the Education link as well as shareable links right from the My Shop pages. The Core Plan and Discretionary Incentives can compete with any other Direct Selling company. Approved Providers offer optional sales training and business support in accordance with robust Quality Assurance Standards.
I think IBOs are the most valuable asset in the Amway Business. Independent Business Owners are dedicated, resourceful, and solution oriented. Some of my greatest friends, mentors, and proven leaders are in this Business. Just like it was for Marybeth and me 35 years ago, so it is today. The appeal for business ownership in North America today is very strong and motivating. Your IBOAI is dedicated to keeping this Business relevant and appealing in the marketplace. We are in the right place at the right time!
Speaking about what your IBOAI is doing on behalf of all the IBOs that we represent in North America, we are very busy these days. We have sworn in five new Board Members at the start of 2023, and they are already contributing in the committee meetings and various ad-hoc groups. Juanita Maldonado and Vinny Pappalardo are returning Board Members, while Pete Herschelman, Mayank Gala, and Jim Puryear have started their first term. Our Vice Chairman, Howie Danzik, brings so much experience, and our Mentoring Chairman Emeritus, Bob Andrews, is so good at onboarding new IBOAI Board Members. We could not function the way we do without Governance and Oversight (“G&O”) Committee Members, Jody Victor and Bill Hawkins. Our CEO, Kathy Victor, is so effective at what she does, and we are all so grateful for her leadership. Vinny Pappalardo still serves as an advisor on the Executive Committee in the role of Past-Chairman. He is a dear friend and mentor to me.
One of the most valuable days we spend in the year is History Day. While at Diamond Club, we invited Board Historian Jody Victor, and G&O Member Bill Hawkins, to share with the IBOAI Board the origins of this wonderful Business and the creation of the American Way Association (now the IBOAI).
Amway Diamond Club was a perfect setting to recognize Legacy and Vested Diamonds as well as those who have attended 50 or more Diamond Clubs. They are all our heroes, and I want to specifically mention a few of these leaders who have attended 50 or more Diamond Clubs by name. Those few are Gordon Ross, Jim and Sharon Janz, Chuck and Jean Strehli, and Pete and Barb Matz. Our Diamond Club business meeting was so good this year. Remarks made by Amway Executives and IBO leaders were informative, encouraging, and inspirational. The icing on the cake was an opportunity to hear from special guest, General Robert B. Neller, who was the 37th Commandant of the United States Marine Corps, now retired.
As we are well into the second half of the Amway performance year 2023, and following our March 2023 IBOAI Board meetings, here are my observations:
The Amway Business in North America is healthy and the Verified Customer Sales (VCS) across the market continue over 80%. I commend all the IBO leaders across North America who are taking the initiative to teach and train their teams to develop profitable and recurring customer sales.
Secondly, while sponsoring has not returned to pre-pandemic levels yet, there are plenty of signs that point to a positive movement here. I want to encourage you and your teams to follow the good practices of properly sharing the Amway Business and to use the Rules of Conduct, Opportunity Messaging Guidelines, Speaker Guidelines, and Quality Assurance Standards. These documents can be found at Amway.com and IBOAI.com. The implementation of Bronze Foundation, Bronze Builder, and The Path to Bronze incentives are just starting to have an impact on the Field. I expect the 2024 Performance Year will fully reveal the expected growth from these new incentives along with the full implementation of Core Plus this coming Fall.
Lastly, I could not be more pleased with the healthy relationship that your IBOAI has with the Amway North America Executive team, led by Managing Director, Andrew Schmidt. The dialogue and collaboration that takes place between the Company and the IBOAI are essential. We all want the same thing, which is to continue to keep this the best business in North America. Great products, support, training, compensation, and reputation are key ingredients to helping people succeed in the Amway Business and to live better lives. Our partnership with the Amway Corporation is critical to the long-term sustainability of this Business. That is what your IBOAI is deeply committed to.