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Empower Network Bankruptcy

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#1 Glen Palo

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Posted 02 August 2017 - 04:26 PM

Empower Network is going into bankruptcy.

 

David Wood has posted a 45 minute video on his Empower Network Facebook page explaining how they have no money and the pending bankruptcy.

 

The link is: https://www.facebook.../empowernetwork


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#2 market101

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Posted 04 August 2017 - 10:29 AM

Bankruptcy?  I'm not surprised.  It was one of the worst programs I have ever joined.  It seemed like forever, but at least I got my money back. That was back in August 2016.


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#3 Darren Olander

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Posted 04 August 2017 - 11:08 AM

Basically there are two reasons that resulted in this:

 

1. Accounting error where they were actually paying more than 100% commissions, I don't think he mentioned where this error was specifically, but if you're

paying out 1% over what is coming in over a long time you're losing a lot of money slowly.

 

2. Someone stole a lot of money, I guess they didn't get it back?

 

I never joined it, I always thought it was really overpriced for what they offered, but a lot of people were successful with it and if it weren't for these financial issues they would probably still be around.


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#4 Timothy Eller

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Posted 07 August 2017 - 07:45 PM

I was with it a few years back but also thought the price points was too high.


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#5 theFreeGuru

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Posted 27 August 2017 - 10:35 PM

I did the math on some of their promises and saw a dangerous situation where cost could very well overtake profits, they were not leaving room for the business expenses, the lavish awards banquets, the bank fees, the company end marketing, etc.. to scale up at the level they were scaling it up. I think that happened more than supposedly paying more than 100% in commissions. The  money stolen or not was not projected right and I hate seeing so many others talking about how they can pay infinity commission etc.. when the money in is a finite amount. The big thing is there was nothing really sustainable about Empower. You were paying too much for a blog and an affiliate program after you purchased and read the info products and the saturated market was bound to cause attrition eventually. They borrowed from Peter to pay Paul because EN was growing too fast and got deeper in debt trying to shore up a sinking ship that was money-less back in 2014.

 

Why he took 3 years to tell the truth is almost criminal, it's definitely negligent, and probably fraudulent as the last 3 years he knew the longevity of the company was not close to the promises it was making. Following into a new plan is probably not a smart choice given the reputation damage and the proven bad choices. If I were him I would tag on to another company and settle to build a personal income off the knowledge without the risk of trying to build a program to end all programs.

 

He's in debt, focus on earning money to get out of it not trying to prove you weren't the bad guy because David Woods was the bad guy even if he didn't plan any of this. It's time to heal, to negotiate restitution's, and get your ash out of the limelight.

 

Andy Zeus Anderson


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#6 PDFutral

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Posted 14 June 2018 - 04:02 PM

I joined them but didn't spend any money when I figured them out I was out.  I don't think I even referred anyone


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#7 incomeskills

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Posted 24 June 2018 - 02:25 PM

I got sucked into this one back in 2011. Stopped promoting it when they went nuts with their VIP upgrades. Just wasn't worth their inflated price tags which is the major problem with most "business opportunities."

David Wood... what a trainwreck!
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#8 rpsmith

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Posted 21 July 2018 - 02:22 PM

I never joined them, but kept seeing their ads. Their prices seemed to be too high. I always thought there was something wrong with their business model, but didn't really do too much due diligence on it. Isn't this the same company that used people's contact list to build their list of leads?


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#9 Daniel Rodgers

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Posted 19 September 2018 - 01:20 AM

No way to guarantee that anything

is going to be here tomorrow.

 

Life is tough in this internet marketing thing.

Try to stay with folks that have lasting power like a couple of years.

 

Every now and again got to take a chance. 


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#10 Bruno Duarte

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Posted 22 September 2018 - 03:37 PM

A lot of people dont see the value of the product more than they hope to see the return on that same value. I agree the products were overpriced and you could access them anywhere for much cheaper or even free. Im not surprised they went bankrupt. Bad management and greed might have something to do with it too.


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