My sponsor Mark Wilten was presented the Snap / Jorns Opportunity in early August 2022. He chose to present the same opportunity to other business networkers including me. I was one of the first to hear about it because had my name in his directory under “A” instead of “V”. Lucky me!!
As of October 31st, 2022 Mark has over 700 referral agents in his downline. Here are the counts:
- Level 1: 16
- Level 2: 80
- Level 3: 148
- Level 4: 131
- Level 5: 72
- Level 6: 24
- Level 7: 28
- Level 8: 46
- Level 9: 69
- Level 10: 64
- Level 11: 26
Although Mark has probably earned well over $200K in the last several months, he has yet to see any substantial cash flow (about $900). Why is this?
There are several reasons:
- CPA Processing Time – When an employer signs up with Jorns & Associates, they are assigned CPAs that will review and assess the account. Jorns is seeing about 300-400 new clients per week and there is an average evaluation and processing time of 60 days per client. Mark has only been on board for about 90 days so most of those first sales from his network are still in the funnel.
- IRS Processing Time – Understand that once Jorns submits a Tax credit request to the IRS, there is another estimated 6-8 months wait time before the IRS processes the rebate and issues a check from the US Treasury to the employer. When the Treasury issues the check, they will notify Jorns & Associates of the rebate. Jorns will invoice the client for their 20% fee less $2600. Snap referral agents are paid when Jorns is in receipt of their 20%. It’s too early for Mark to have received this commission.
- Jorns Payment Cycles – Jorns/Snap pays marketing agents on the 15th of the following month. This allows the company to calculate and accurately process commissions. Commission for October are paid November 15th. Mark has several agents on his first level who have made direct sales. He can expect to be paid “fast start” override commissions starting November 15th.
Don’t confuse income with cash flow! Income is when the business is booked. Cashflow is when you are paid. As a business owner, I am very familiar with invoicing a client and not having them pay me for 60 or 90 days. (To avoid this, I often offer a discount for prepayment) Using an accrual based accounting, I can count that income the moment I invoice the client. Using cash based accounting, I might not be able to count the income until funds are deposited in my bank account.
Government is slow! The US government takes time to process these rebates. I recently applied for a 501c-3 tax exempt status and the EZ process took over 6 weeks. The long version is running about 8 – 9 months. The way I look at it is “put it in the oven and let it bake”.
The Snap ERC opportunity does not provide immediate cash flow and that is why it is an amazing opportunity. One of the reasons this is an opportunity to begin with is that Jorns can have a field of part-time independent representatives without paying them base salaries. It is not just smart business it’s brilliant!
Fast Start provides Some Relief – Snap offers a “fast start” payment which is 20% of the anticipated agent commission. This is paid when the rebate amount has been calculated and submitted to the IRS. Remember that this is roughly 60-90 days after the employer has submitted their application.
Is Snap/Jorns is good for money? The answer is yes. There are several people that have made and been paid exceptional incomes before and after the Snap Financial program. There is a video of Doug Kolker (https://erclinks.com/opportunity/). Tony Swantek introduces him as having been paid over $719,000 in commissions in one week!
Most people’s heads explode when they hear that number. Doug has an exceptional work ethic, vision, belief and confidence in this business. His timing was spot on. My brother works at Microsoft and many people who joined around the time he joined are multmillionaires. Timing is almost everything!
But there are still people are able to snatch “defeat” from the jaws of “victory”. In my opinion, the only thing at risk is opportunity cost. “Opportunity cost is the value of the next-best alternative when a decision is made; it’s what is given up.” My next best alternative would not pay me anywhere near this amount.