Bytes
of Info
From the Editor
Thanks
for joining us today! We have a lot of new subscribers today
and we are so glad that you've become subscribers at Vector
Central. It is our purpose to assist you and bring current and
updated information in this ezine edition.
New Proposed FTC Regulations - Don't Panic!
And how to Write your Congressman
by Susan Nichols, Editor
As
you review websites and ezines this week, you will be seeing
a lot about the new FTC regulations.
My
first advice: "Don't Panic!" Use your own brain
to research and find the facts and then form your own viewpoints
and opinions. Over the past 8 years I've watched the 'panic'
caused by proposals and new regulations each time there is an
update. Yes, we need to comply to new regulations when one is
passed, but not to the fear and panic that so many are sure
to project. Like any regulations, Vector Central will review
and honor what rules and regulations are required for online
advertising and businesses.
This
new proposed law has not passed yet. We will bring you updates.
My
Belief:
Online business is "NOT" over and online business
Will Continue! You'll be seeing the opposite of this
statement in many mailouts. Don't believe them. Online business
is stronger than it ever has been!
Please: "Don't go running, screaming negative things."
What I'm outraged about are the many who are sending out negative
statements that this "proposed" law will end online
business. NOT So !
Let's
step back and take a "clear-minded" look:
My Assessment of the "Proposed" FTC Regulations:
"If"
this bill were to pass, some of the regulations could change
for online programs and services.
According
to Jeffrey Babener: "The process for adoption of a
final rule is estimated by industry experts to take about
18 months to three years following extensive hearings, workshops
and the political process. There will be plenty of time for
debate and suggested modification of the Proposed Rule during
that time. Most importantly, it should be noted that this is
not the specific problem of any one company, but rather, it
is a potential challenge to the entire community of all direct
selling companies..."
I
repeat "Don't Panic, and Do Avoid the Fear-Mongering"
of many emails that you will receive.
Online
Business is Stronger than Ever! Facts show this! Don't let
the negative rantings that will come to your inbox get you all
upset!
Keeping
records is a sign of good business. If you had a storefront
business in your city, you would have to follow regulations.
So do online businesses.
At
Vector Central, we have always reported all sales, income, refunds,
etc. as we feel any online business should do. If you have an
online business, then you should be keeping all records of sales,
refunds, receipts, PayPal and other online credit card service
receipts, all emails, good bookkeeping techniques, etc.
"IF"
the bill passes, each business will be required to present certain
requirements. Any business has to follow certain regulations
and rules. Why would any online business not want to follow
certain requirements to be legal?
One
of the requirements "IF" this bill passes, is that
small businesses will have to keep ongoing records of all cancellations
and refund requests. Vector Central has been doing this for
8 years, so I'm not understanding the panic and fear that many
online users are projecting. Good record keeping is the basis
of any good business, big or small.
There
might also be a new regulation "IF" this bill passes,
that online businesses might have to ask for name, city/state,
and telephone # of those who make purchases. I find that most
businesses do this already. There is definitely a privacy issue
here because most of us do not want to give all this information.
"IF" this bill passes, we would have to do so.
I
feel that the panic about this regulation can be eased by telling
the customer that their information will not be shared. Most
services already do this. No one wants their email address sold
or shared. The same can apply to other personal information
when someone makes a purchase.
You
can write to your Congressman and request that he or she "write
to the GAO to investigate the FTC Business Opportunity Rule"
and give your opinion and viewpoints.
To
find out who is your Congressman and how to write to him or
her, go to: http://www.house.gov/writerep/
--Find your State in the scroll-down box
--Enter your zip code (you can leave 4-digit extension number
blank.)
--Click on "Contact Your Representative"
If
you read the rantings online, step back and form your own opinion.
Research for yourself.
Stay
cool - research the facts - use your own brain!
~~~~~~~~~~~~~~~~~~~~~~~~~~
We
hope my above article helps you to understand some about the
new information you'll be reading online. I do not claim to
be a legal mind, nor do I claim to know all about the new
regulations, so these are only my opinions. With Freedom of
Speech, each of us can enjoy the privilege of expressing our
viewpoints. If you would like to comment, please
go here and enter your feedback.
In
today's edition we have a lot of online opportunities for
you to build your businesses and assist you in your daily
internet work. Online Business is Strong and Growing! Be
a part of it and be sure and review the opportunities in this
ezine!
Success
to You This Week!
~~Susan :)
Editor/Publisher
