Guidance on Sharing the 7k Share Plan
Believers, the Holidays have come and gone, New Year’s Resolutions have been set, and now many of you are running full speed ahead in the Gold Rush Challenge. We look forward to seeing your success this year as you stay focused on your goals and put in the work to see them through.
As you work to build your 7k business, we have a few important reminders when you Share the 7k Membership with others, especially the 7k Share Plan. While more than 80% of 7k customers are just customers and not participating in the 7k Share Plan, there are certain things that you are required to disclose whenever you present the 7k Share Plan to prospective 7k Associates, or whenever you express or imply the opportunity to earn *income through 7k.
First, remember that as a 7k Associate, you have a financial interest in referring customers and the sale of 7k products to those customers. If you post anything online about 7k, gold, silver, collectible coins, 7k Membership benefits, or the 7k Share Plan, the law in the United States and many other countries considers you a paid endorser. Even if you don’t consider yourself a social media influencer, the U.S. Government does. According to the U.S. Federal Trade Commission (the “FTC”):
If you endorse a product through social media, your endorsement message should make it obvious when you have a relationship (“material connection”) with the brand. A “material connection” to the brand includes a personal, family, or employment relationship or a financial relationship – such as the brand paying you or giving you free or discounted products or services. (See “Disclosures 101 for Social Media Influencers”, Federal Trade Commission (Nov. 2019), at, at https://www.ftc.gov/influencers).
In addition to disclosing your financial interest, you are also required to take certain steps to ensure that you never mislead potential 7k Associates about the opportunity to participate in the 7k Share Plan and potentially earn a modest supplemental *income. Here are some things you can use to evaluate your presentations and posts to ensure they are compliant with 7k’s Policies and Procedures:
- Always tell the truth and never mislead in any way.
- What you say, including your testimonials, must be substantiated with credible evidence – like the 7k Income Disclosure Statement. When in doubt, stick with the information contained in 7k’s official marketing materials.
- Anytime you discuss the 7k Share Plan or suggest or talk about the opportunity to earn income, you are required by policy to provide a current copy of the 7k Income Disclosure statement to the prospective new Associate. This means that the prospect leaves your conversation with an actual copy in their hands or a link in their email inbox. Don’t overhype or project what potential Associates can make. Further, only discuss “typical” experiences with the 7k Share Plan, as outlined in the official 7k Income Disclosure. Atypical results are considered misleading and may violate policy if they can’t be cured by a proper disclaimer.
- Remember that financial interest we talked about? You are required to disclose to prospective customers that you have a financial interest in promoting 7k, regardless of whether you are meeting with them in person, via electronic or phone communication, or via social media advertising/posts. Simply mention that you are a 7k Associate or let them know that you earn a small commission if they make a purchase through your link. Or you could include terms or hashtags like “#7k Associate”, “#Ad”, “#advertisement”, or “#sponsored.”
We are grateful for each one of you and the efforts that you are making to be compliant with the 7k Policies and Procedures, as well as applicable law. Following these steps shows your integrity as a 7k Business Builder, and integrity is always good for business.
For more helpful information and guidance, refer to these additional resources linked below:
The Direct Sales Self-Regulatory Council’s Guidance On Earnings Claims
The FTC’s FAQ page on Advertising:
https://www.ftc.gov/business-guidance/resources/advertising-faqs-guide-small-business
Our Compliance Team is always ready to help you with any questions you may have or clarifications you may need. Please don’t hesitate to reach out to us by emailing policy@7kmetals.com. We will be sharing more guidance on advertising in the future. Keep up the great work!
The 7k Compliance Team
DISCLAIMER
7k Associates can earn supplemental income by referring customers to 7k. Referral commissions are based on actual sales made by 7k directly to customers. Results vary and success is not guaranteed and requires time, skill, and hard work. The majority (85%) of those who buy 7k products each month are customers who acquire precious metals and collectible coins for their own collections, and they do not apply to participate in the 7k Share Plan. Median gross earnings for active 7k Associates is $500 per month, with an average of $2,400 per month, excluding taxes and customary business expenses, which vary greatly depending on individual circumstances. For more information on what’s possible, visit www.7kmetals.com.
