Forum Post: Equishift Top Account
Posted 10 years ago on Aug. 5, 2013, 8:07 p.m. EST by Kavatz
(464)
from Edmonton, AB
This content is user submitted and not an official statement
Use this thread to discuss the Top Account, what should be done with the money in it, how money should go into it, and any ideas you have.
Currently, this is how the whole system works:
Someone came to my door and I paid $30 to get started.
I went to other homes and collected wages plus signed a bunch of new people up.
At the end of the month, I paid my dues. I collected 5% of the total income of everyone I signed up. I added that to my collected wages. I paid 5% of my total income up to the person who signed me up.
My money went upstream until it got to the first person above me making $200K/year.
If the first person above me making $200K already reached that, my contribution (or whatever amount actually makes it there) is redirected to the Top Account.
No owner can earn over $200K/year from this business.
.
So, what to do with the funds in the Top Account?
Operating costs (legal, accounting, software, other systems, etc.)
Focus Projects (whatever owners decide is most critical with best value)
Bonuses to members (recognizing hard workers)
As a WSDE, we decide how the money is made and what to do with it. We are the board of directors.
Here's an idea of how lucrative this can be:
If you've signed up just 10 people, And each of your recruits earn $1000/mo, Then you will receive $500/mo without doing anything else.
10($1000 x 5%) = $500
The Top Account needs money to pay for a high priced lawyer and accountant. This should be the first objective after start-up.
Also, there needs to be more than one person contributing to the top account.
When someone who contributes directly to the Top Account earns $200,000/12 per month (over $16K), their direct recruits all become contributors to the Top Account also. (This is a new idea to run with or reject.)
But to start, the first 200 recruits will be direct contributors to the Top Account. The first 200 do not have to pay the $30/year membership admin fee for 5 years. (Again, TBD.)
If we need to have $10,000/month in the Top Account to pay for the Lawyer and Accountant, there needs to be 200 direct contributors each earning $1000/mo.
Did I make any mistakes here? I suck at math.