It seems very fashionable to blame the economy for everything negative that impacts a business these days.
Reliv International posted a 40% profit drop last week. The nutrition and direct-selling company posted net income of $536,000, or 4 cents a share, in the third quarter, down from net income of $901,000, or 6 cents a share, a year ago.
What’s the problem?
According to them – the economy!
Doesn’t seem to make much sense, given that several network marketing companies have posted gains in their distributor bases and profits working in the exact same economy.
As of Sept. 30, 2008, Reliv’s distributor base totaled approximately 68,540, which represents a slight drop from a year ago.
I hope they stop blaming economic conditions and start improving their business. Otherwise, they’re going to see that number drop further.
November 11th, 2008 at 11:24 pm
It is a fact that we are going through very difficult and trying times. But if companies keep on blaming the conditions for their bad results, then how are they going to come out of this crisis. There are many success stories about people who started new business during economic slowdown, but went on to become millionaires. Companies should look for alternatives, go for cost cutting, join hands with other businesses and take whatever steps needed to ensure that their business sustains in today\’s difficult conditions.
April 13th, 2009 at 6:20 am
Seems like it is easy to use the economy as a scapegoat. At my company it was a good excuse to lay-off some people that they probably had intentions to lay-off anyway. When a company doesn’t honestly evaluate their performance, they will eventually suffer even more from it.
December 12th, 2009 at 2:56 pm
Is reliv worth doing at this time of our current economy?.
August 17th, 2010 at 9:18 am
HI You are right.I have seen company layoff people right and left blaming times. But I have learn is to ride it out and look for thing to add to the company to help it though tese times. Can’t give up Look aHead and up.