Chapter 20. Be a Person of Your Word
take the company back. My name and my reputation were attached to that program. When I took the company back, I was in shock at what had happened in a fairly short amount of time. This group and the way they handled the business put the company in a tremendous amount of debt. In fact, it ended up costing me over $1 million dollars, much of that in the form of refunds owed to people. Let me tell you how important it is to make sure refunds are always paid and why what they did was so bad. I would like to start by saying this. If you sent 100 people to your favorite restaurant, it would be fair to guess that maybe 15 of themwould not like it no matter what. Maybe it was not their type of food, maybe it was a busy night and they did not like the ser- vice, or maybe it just didn’t have the right feel for them. Well the same goes in my business. The principles in my Motor Millions kit allowed me to make a fortune starting with nothing. It also allowed people from all over the country who got my kit to make a ton of money as well. But for roughly 15% or so of the people who got my program, it just wasn’t for them. Maybe they didn’t like the system once they got it, maybe it seemed like too much work, maybe we had a bad day and they felt they did not get proper ser- vice when they called. Whatever it was, they wanted to return what they purchased. So for example, if you’re doing $200,000 a week in sales and you have a 15% refund rate of people saying it was not for them, then that’s an average of $30,000 a week in refunds. Well this new company decided not to pay refunds right away and use that extra money to expand the company. It snow- balled and they ended up in the 6-month period paying very few refunds to customers who requested their money back. So you can see how fast that debt can build. And what was even worse is that no one knew I had sold the company. People saw me on TV, they ordered a program I created and they heard me announce the 30-day money back guarantee. If they wanted a refund, they wanted it from me.
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