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Eiro Research went out of business. Lesson learned for network marketers?
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So it was brought to my attention today by a certain 6-figure-monthly leader that Eiro Research is officially out of business as of yesterday (Wednesday, January 19th, 2011).
(I attached at the bottom of this post the official letter now seen on the company's website.)
While it was an unfortunate situation, it wasn't an isolated incident... and I wasn't surprised.
I read the letter attached below, what I saw was the company looking after the company first, their distributors SECOND... that they must pay back the creditors as the No. 1 priority, which would consume all remaining resources of the company.
In 2010, we saw SEVERAL companies that had similar situations happen to them.
- iLearningGlobal (cut off its MLM operations completely),
- Success University (shut down the company, merged with World Ventures and caused MANY people to lose their team),
- eFusjon (ceased its MLM/Direct Sales side of its business)
Again, these situations are utterly unfortunate.
The emotional roller-coaster ride that these distributors must have experienced or are still experiencing is something I'd wish upon NO ONE.
2 1/2 years ago, I personally went through a similar saga...
moving from one company to another... which essentially caused me to lose my entire downline that was earning me a full-time income in my first and only network marketing company prior to my current business.
The reason for it was the company making major changes to its P&P and compensation plan, which caused a tidal wave of distributors (by my estimation, over 30,000) leaving the company for another opportunity.
At first I was totally confused.
And then I was in DENIAL.
And I even thought about "sticking it out" and getting back to the old business because I had been singing the company song and doing the company dance for almost 5 YEARS.
But when my diminishing checks eventually dried up, and 5 years of hard work simply evaporated... it was a RUDE awakening, to say the least.
Fortunately for me I had saved every penny I earned from that business up until that point, and I made a clear and conscious decision to get out into the industry, make new friends... 6, 7 or even 8 figure field leaders such as Tom Challan, Mike Dillard, Ann Sieg, Mike Klingler, Diane Hochman, who have all come before me in this industry and learn from them.
I've finally come to realize that the company TOP concern is its own survival, not the distributors as many company executives like to tell us.
When I realized that fact, it actually gave me a stronger than ever resolve to remain in the industry to help more people build their businesses, but with a distinctively different perspective.
There has long been a baby-sitting cutlure which partially came as a by-product of wanting to making everything 3rd grade duplicate-able in the industry.
Making money is not "hard," but it certainly requires some skills, technical or otherwise.
Home business entrepreneurs/Network Marketers/Multi-level Marketers/Direct Sales affiliates MUST realize that their financial well-being is in their own hands and no one else's.
This is not about Online vs. Offline...
This is not about Old-school vs. New-school...
This is not about Ford vs. Chevy...
This is about doing everything in your power to get it done!
Whatever it takes.
That's the reason why Tom Challan and I invested the past YEAR researching companies, visiting companies, sitting down with top leaders and company owners, investing in training, experimenting and testing to create Priority Team Pro to teach our friends in the industry how to become stronger by learning and applying skills that they can take with them anywhere and make money, regardless what the company decides to do.
Feel free to chime in in the comments section below regarding Eiro Research or this type of situation in general.
I look forward to hearing from you and turning this into a massively positive and productive discussion for all to see and learn from.
Remember, you're doing this FOR YOURSELF, but NOT BY YOURSELF.
(Even if you and I are not in the same company, my friend.)