Choosing a Network Marketing Company - The Plan
What to look for
Just like Positioning – which I will cover next – the compensation plan should not be the main reason you join a company.
I don’t care how big the payout or how revolutionary the plan, if the products do not bring real value to the marketplace and the company ownership does not demonstrate rock solid principles and integrity with a long-term legacy focus for success.
A Network Marketing compensation plan should be fair generous and reward good business building behavior. However, it is should never rank above Products and People when it comes to choosing a network marketing company.
Questions to ask yourself
What value are you bringing to the marketplace with your products? Are you excited about your product offering? Do your products make a real difference in people’s life’s? Is your company a legacy focused company, that is here for the long run? Is there a corporate ethos of integrity and principles? These are the questions that should matter the most.
Only once these questions have been answered in the positive should you even think about compensation. In other words, don’t put your cart before the horse! So, with our priorities clear…let’s talk more about compensation plans.
How to evaluate the compensation Plan
A compensation plan should provide a journey for the entrepreneur. Financial reward for the part timers, the full timers, and also for the big thinkers, the big dreamers, the people who believe they deserve to have it all.
Sometimes, when people are comparing compensation plans, they make the mistake of comparing one part of plan A with one part of plan B! You can’t really do that. Every piece of the compensation plan is like a separate cog in a machine. You must look at the complete picture and not just a single cog!
Also beware of smoke and mirrors! Take a car program for example. A Legacy company like Mary Kay is smart enough to put their pink Cadillac car program on the “back-end” of their compensation structure. In other words, only very strong, stable builders can earn the car program, and it has been super successful for them.
On the contrary, in the last few years some hype driven startups have put BMW car programs on the front end of their comp plan, because it’s exciting and dare I say it…sexy! Fairly new distributors showing off their new BMW cars on Facebook drives the hype and excitement even more. But there is a problem. These young distributors do not have strong stable businesses yet. It could be up one month and down the next!
As a result, the majority of the new BMW owners cannot consistently meet their car qualification and it ends up costing them money, or they are forced to hand back the car. It’s only a matter of time until the company is out of business!
Legacy focused companies with real products that bring real value to people’s lives do not need to resort to hyped up smoke and mirrors. They simply need to provide a financial roadmap of part time income, to full time income, to big time income, for those willing to learn the skillsets, master the mindsets and put in the time and effort.
I want to wish you all the success you believe you deserve.
Which plan is best in network marketing?
Here are the plans in network marketing that are likely to work for you! Choose the one that suits you the best. You can work on the details of your plan. Make sure to discuss your network marketing plan with your team.
- Gift MLM compensation plan.
- Stair-step MLM compensation plan.
- Spillover Binary MLM compensation plan.
- Australian X up MLM compensation plan. …
- EmGoldex MLM plan.
- Australian binary MLM compensation plan.
- Hybrid MLM compensation plan.
- MMM global MLM plan.
How do you write a network marketing business plan?
Writing a network marketing business plan may sound quite difficult. However, actually, it is not. All you need to do is follow a simple format and keep some questions in your mind. This will help you write a smart network marketing proposal. Here is what you need to know!
- Know what its goals are supposed to be.
- Come up with the business structure.
- Share the pyramid.
- Know what it’s going to cost to open up and run your business.
- Point out how you’re going to market it.
What are some tips for network marketing?
Always seek tips and strategies from experts in network marketing. Instead of following irrelevant and inauthentic sites, seek professional help. Here are some wise tips and ideas that will help you in network marketing.
- Choose wisely
- Follow what they teach
- The higher-ups
- Take up the lead with your downline
- Identify your target market
- Make an effort to share your product/business plan every day
- Develop a system for following up
What is the fastest way to succeed in network marketing?
Here are some of the most powerful network marketing tips for guaranteed success. With these tips, you can achieve your business goals and get your desired outcomes.
- Be Serious
- Don’t Treat Your Friends Like Business Prospects
- Use Social Media
- Invest in a Mentor
- Have a Growth Mindset
- Be Consistent
- Use Automation Tools
- Do Your Research