Starting a Social Enterprise Business at this Stage of My Life

10403241_911550812192111_1705378196803406614_nAll my life, I have yearned to start, own and operate a business of my own. Somehow, an initial lack of capital and a fear of the risk weighed against a university degree and guaranteed employment with a virtually guaranteed monthly paycheque got in the way & I succumbed all these years to the safer employment route.

Now, at this stage of my life, I can now finally afford to take on a riskier venture. I already have something of a retirement “nest-egg”, the kids are educated and off my hands, I have a bit of time and I am still actively scheming – plus I have a huge network stemming from my professional career, music, real estate and other activities.

The closest I have ever come to realising anything of my lifelong “business” yearnings is when I lent a helping hand to my son as he started his Mr Loys Puff in Melbourne, Now, after 1.5 years operations, I believe we can somewhat privately say it has become something of a growing icon in the Melbourne Singapore food scene, refer www.facebook.com/mrloyspuff or www.mrloyspuff.com.au

So it is time to move on – and what do I have in mind ?

Given all of the above, plus, assuming that continued good health and the ability to remain active, even grow younger as we advance in years, is our number one priority, then my plan is to start an MLM network using a successful role model to “sell” the concept within and amongst our wider networks and, in order to make it more compelling, structure it as something of a “social enterprise” so as we all can also collectively “feel-good” as we “pay back” to society in general what we have already gotten from it so far to this stage of our lives.

This way we can all age actively, stay healthy, enjoy the camaraderie of the networks, make some money and “give-back” to society – all in our own individual ways and according to our individual means.

That, in a nutshell, is the overall game plan.

How do we structure it as a “social enterprise” – we each donate a % of our MLM earnings to charity based on the annual commission statement issued to us by the MLM company to enable submission of our annual tax return. We, in turn, each post the annual MLM commissions earned and the charities donated to annually on Facebook.

I intend to donate 30% of my MLM earnings to recognised charities annually in this venture.

Which is the chosen MLM ? – Amway, because they must be doing something right after >60 years in the business. Over the last 10 years, I have travelled a long and wide MLM road, at my own cost and starting with Amway almost 10 years ago. I now gravitate back to Amway because I believe it has the most compelling story and product, plus, I have a good and successful mentor role model in Mr William Teo in this endeavour in that he has been in Amway almost 20 years, survived endstage cancer, grown younger and now, at 81, is still actively healthy and able to eat sleep, walk, talk and responsibly gamble whilst on short near-region cruises!!

I recently went on a short Straits of Malacca cruise with Mr Teo, my 3rd with him over the last 15 years. I was most impressed with his physical well-being despite his years and the unwavering dedication discipline and commitment to his daily regime to his Amway health supplements.

Upon my return, I showed my wife, Lin, the photographs. She, of course, knows William well, having been on that 1st cruise with him 15 years ago. Lin, of course, is that unwavering, always loud, challenging, disbelieving MLM critic much as William is the dedicated-committed MLM supporter from the other end.

To my utter disbelief, Lin now religiously, and for the 1st time in 15 years, takes those same Amway supplements every morning!

Believe you me, this is the exact equivalent of a instantaneous conversion to Christ!!

I and we, of course, wish her the best as she explores her new beliefs.

So, in the above, we have the compelling story, the reasons and role models, the networks, the social enterprise “”give-back” theme, the “stay-healthy-as-we-age” dimension, the MLM itself, and, obviously, the very low Amway start-up cost.

How can we afford not to proceed ?

Regards,

Eddie Foo 

 

Vision Statement :

  • To enjoy ageing gracefully, healthily, actively and profitably according to each individual’s capacity to do so
  • To, in some small way, give back to society what society has given me through life and, in particular, to help the disadvantaged in society in some way

Mission Statement :

To achieve the above by establishing a social enterprise that encompasses and integrates networks arising from my professional, music, real estate, multi-level marketing (“MLM”) and personal activities and to annually committing to donate a portion of monies earned from these to recognized charities BEFORE they are earned and to provide proof of the donations AFTER it has been earned.

To share with as many as possible.

Multi-Level Marketing – this is the backbone of this overall endeavour.

I will donate 30% of everything I earn from my MLM activities, as evidenced by annual statement from Amway to recognized charities and in accordance with every January to December income year.

Why Amway – over the last 6-odd years, I have travelled a long and arduous MLM road through a wide variety of MLM companies. I have now come to the conclusion that Amway must be doing something right if it is still in the forefront of the MLM business after 70 years.

As well, I have a very compelling story to tell in the form of my 81 year-old friend and diehard Amway supporter, Mr William Teo. He is a stroke and cancer survivor who has survived multiple surgeries and even has had his heart revived after it stopped beating on the operating table but who attributes his present healthy well-being to his ritualistic and dedicated consumption of his Amway/Nutrilite supplements. Notwithstanding, there are no medicinal nor curative claims made here of the Amway nutritional supplements.

At 81, William can easily pass off as a man in his early 70s. He is able to walk, talk, eat, sleep and even gamble, on a social basis, whilst on a recent short cruise with me.

Also, with Amway and unlike most other MLMs, there is no monthly commitment to a “transfer buy” of “monthly maintenance”. You buy what you can sell or consume. Nothing more.

MLMs these days are also a very competitive business. Amway’s commission plan is as competitive as any other.

 

 

Why Join THIS network

  • Because eventually we will be a gathering of individuals of like minds with like purpose – wanting to age happily, graciously, profitably and giving some back to society.
  • We will be a combined network of music lovers as well
  • You will need a sponsor to join Amway anyway
  • Real Estate – the undersigned is a licensed real estate agent in Singapore with Eastview International Group Pte Limited, CEA Registration No R018167Z.
  • I will donate 5% of everything I earn from my real estate activities, as evidenced by annual statement from Eastview International to recognized charities and in accordance with every January to December income year.

Real Estate – the undersigned is a licensed real estate agent in Singapore with Eastview International Group Pte Limited, CEA Registration No R018167Z.

I will donate 5% of everything I earn from my real estate activities, as evidenced by annual statement from Eastview International to recognized charities and in accordance with every January to December income year.

Music – the undersigned is a recognized and fledgling Elvis Tribute Artist in the Singapore music scene.

However, because this activity is a very personally-driven activity and also difficult to present numbers, I will refrain from any “transparent” donations from this source.

Irrespective, this activity remains and is a very integral part of the overall enjoyment of the gracefully active and profitable ageing process.

Pre requisite for Joining THIS network group

To fit in with the fundamental premise of this grouping, every member MUST donate something back to society.

However, according to each individual’s means and capacity, it can be any %, but it CANNOT be zero.

Each member will do as I will do, declare at the start of each income year, the % of donation and then at end, transparently, provide proof of the earning as well as of the donations.

I also commit that I can vary my % donation but ONLY upwards, NEVER downwards

For more info on the music, the real estate I am involved in or on Amway, please refer to the relevant sections of my webpage.