I love books. I love reading. I love my family. I also love good economics.
Put all of those together, and you don’t have to look very far to see that Bookwise might be a fun club to join, but by its very nature, it is not a career-wise decision if this is going to be your home based business.
Here are some of the Economics:
First of all, the auto-ship is relatively small. While this seems great to get in, it is not great for making money.
Second, your customer/membership pool gets eaten up pretty fast. Really, after your friends and family, how many people are going to jump into a $35/month book club? Also remember, to make it worth your time, you’re going to need to have a big down line.
Thirdly, alternatives and competition are plentiful. It’s books. Readers digest, barnes and nobles, amazon, etc. Nearly all of the services offered by your Bookwise Membership can be found at your local library or community bookstore.
Fourthly, opportunity cost. If you are involved in other Network Marketing pursuits, remember that focus is really the key to make things work. Be aware that book clubs and additional commitments are a great way to lose focus. Just make sure that as a business pursuit, its financial benefit outways your focus lost.
There is a fun little charity aspect to their company. 1 dollar out of every 40 spent will go to a charity.
While I’m confident those dollars will be useful to those charities, imagine all of the money you could donate if you bought less expensive books or took more advantage of your community library or bookstore services?
What’s my personal opinion about Bookwise? I love books. I love reading. As a hobby and social venue, I endorse it as a great opportunity to meet other people and share ideas.
As a business pursuit however, it doesn’t strike me as a very wise decision. Please though, share your thoughts.
Hey John,
It sounds like the bookwise business is a good idea for people who don’t know much about business. They will be able to hear all of the conferences with accountants, business geniuses and great authors who will give them good insight and excite their minds to higher understanding in the world of business. I can’t see anyone doing this business for more than a few months though. It reminds me of something like pre-paid legal where after about 3 months you realize that you’ve used the service about as much as you’ll ever use it and the next few months will be a waste of your money, time and other resources. For someone who is business savy, or believes they are, the business is a waste of time and energy. Besides, the two tickets valued at $1,100… Give me a break.
I have recently been looking into bookwise and have been impressed with the intention. For $35 the value seems to be there for me. As for the earning potential…I have seen some impressive growth for an individual that I know involved. The reason that this has happened for her was not a result of her own grunt work, rather the pay structure. With the tiered system you are able to earn more with the more people you get involved (ideally 9), but are only able to have 3-5 people directly beneath you. So what that means, and she demonstrated this, is that she is having the ambitious people above her fill her downline. I won’t say that I am overly versed in the advantages of different paystructures. But I will say that I’ve seen it work for her, and am willing to give it a shot.
Hey John,
Bookwise is more than a book club. If you look at it as only a book club then you shouldn’t join it.
With Bookwise you get:
Financial Training with “WealthWise” tips every week. These audio trainings are well worth $35 a month alone if you act on them.
Tax Training with “TaxWise” tips every month. Again this training in how to save money on your taxes with your small business is well worth the $35 a month alone.
Now if all of that isn’t enough for you, they will guarantee your money back for up to one year. SO you can try Bookwise out for up to a full year, and get your $35 monthly membership refunded to you if you decide it isn’t right for you. AND you still get to keep the books, mp3s, tax tips, and financial tips.
So how can you NOT join? Since you have nothing to loose?