Home Based Business – InfoBuzz

Phoenix EQ Holding Co. Inc., also known as EcoQuest Holding Corporation Inc., the organization that possessed Eco Quest International, submitted a Chapter 11 bankruptcy petition about two months ago.

Chapter 11 of the United States Bankruptcy Code does not refer to a process of liquidation of the organization, but rather enables reorganization following the U.S. bankruptcy law. This happens so that the debtor company is able to propose a program for reorganizing the business that will keep it going and pay creditors over time. The meeting of creditors also took place in December, and apparently, the company has over $4 million in unguaranteed claims against it from its biggest creditors and only “$0-$ 50,000″ in possessions.

From 2000 to 2009, EcoQuest was a huge manufacturer and distributor of air and water purifiers, based in Greeneville. The products were being sold via a network system that comprised tens of thousands of independent distributors. This system seems to have covered the U.S. and several countries from the EU, Asia and Australia.

The business recorded an important development, creating new products and employing in the area over 700 people when it was at its peak, several years ago. It made over fifty million dollars in gross profits both in 2007 and in 2008. As stated by its president, CEO and majority stock owner, Mike Jackson, it had a distribution network of around one hundred thousand active representatives.

However, sales profits decreased sharply with the onset of the economical depression and, after unsuccessful efforts to get third-party financing, in March 2009, a large part of the assets of EcoQuest was sold to a subsidiary of Aerus Holdings LLC. Mike Jackson mentioned back then, talking about his resolution to sell EcoQuest, “I had nowhere else to turn.” (as cited by the The Greeneville Sun).

Right now, Phoenix EQ Holding Company proves to be the defendant in quite a few court cases initiated by creditors all around the country. This is an unhappy case of a successful business turning overnight into a nightmare, for all of the people in it – leaders, production work force (which was decreased to two hundred people) and, yes, distributors. Many of them may have another business, but I believe that most were primarily dedicated to EcoQuest. This story meant huge money loss for everybody.

What can you do, as a distributor, to avoid this loss from happening to you all over again? The one and only sure strategy is not to let your carrier as a marketer along with your profit as well, rely on one organization only. Businesses prosper and then fall suddenly, and you’ll be left with absolutely nothing. Your career and income should depend on yourself totally, and on the image you have succeeded in creating for yourself. If you have managed to promote yourself as a marketer over time, instead of advertising the company and its product, then you will suffer no loss, because the people you have enrolled and led will never scatter once the opportunity has has collapsed; instead, they will follow you to any good business opportunity you guide them to, as they believe in your know-how and experience.

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Wealth Masters International (WMI) is a company located in Texas, started by Kip Herriage, a man who was formed in the finance industry, with 15 yrs spent on Wall Street. He and his associate Karl Bessey founded WMI in 2005, having the vision “to create success and wealth in others, one person at a time”.

WMI it is meant to be an economic education business. Their products contain a line of financially-related programs and seminars: the “m1″ Education Course (Masters’ Program) is a monetary education program that contains a series of books and CD’s on issues such as financial planning, tax strategies estate planning, asset protection, incorporation, to help you control your personal finances and reach your financial goals. The “m2″ module (Wealth Conference) is designed to offer the necessary tools to multiply your income, through investment education and access to the experience of world-renowned financial experts. The “m3″ (Private Wealth Group) invites you in luxurious retreats from all around the world, to attend an annual event where “top international personal growth coaches and wellness experts” are intended to instruct you how to raise your level of individual and financial success and how to live your life of entire prosperity and abundance. Their “Alliances”, which are mainly referrals to professionals with a proven background in their field, can be considered another WMI product line.

Well, get ready to give your best estimation of how much you intend to spend on this education and hold your breath, because I am about to translate all courses into figures: the price for the entry-level product, m1, is $1995; the second level product is sold for $8,995; the m3 lifestyle experience comes at the price of $12,995 for one individual.

OK, you can breathe out now, because, in my oppinion, if these modules are reasonably priced for you, it is all about trust from this point on: do you trust that these courses give in exchange at least the value of the money you put in? Then, go ahead, try it.

If you have decided on taking the WMI path, the next step is to select how to join them: as a member (access to the courses, but no access to WMI’s business opportunity) or as a consultant (access to the business opportunity as well).

As with any MLM company, profit is collected from product sales and referrals. Percentages will be divided between you and your sponsoring consultant, though. The rewarding plan is a two-level plan. Consultants receive payment only from their own work and the work of of their directly sponsored consultants. Plus, there’s no residual income opportunity. The only passive remuneration can be obtained from the override commissions of directly sponsored affiliates, but there’s a condition attached to this: the consultant should make at least one sale per month for 10 months out of 12 in a year. Additionally, in order to earn commissions from sales of the M2 and M3 products, a one-time purchase of each of these products is required. So, even if there are really high profits from product sales, the compensation system has its drawbacks.

As for marketing systems, they don’t have one of their own; you can look at this in a positive way, thinking you are free to review any of the good marketing systems that currently work the internet. If you haven’t operated with any online marketing system so far, there’s always the choice of finding yourself a good internet marketing advisor to lead you through the process and show you profitable marketing strategies that can help you get the best of any MLM business you may choose in the future.

For more information on Wealth Masters International, as well as other successful MLM companies, visit Jim Chao’s WMI Review. Jim is a young talented internet marketer who is willing to share with you his methods to grow your business online.