It’s sad but true. The world has had too many failed MLM software implementations. A failure occurs whenever software is inadequately delivered, trained, or used. Fortunately, when you understand the reasons for software implementation failures, you can take steps now to prevent another failure. This post was inspired by a question asked to me by…
Compensation Plan Prototyping
Whenever a compensation plan will be changed, before the changed plan is announced, we need to understand what the effects will be upon the earnings of all of the representatives. “Prototyping” is the term that I use to describe the process to calculate the results of a new compensation plan using historical data. The historical…
Merchant Account Application Wisdom
If you are starting a new company and seeking a merchant account to process your credit card payments, the last thing you want to do is to make strategic mistakes in communicating with your prospective supplier that result in a rejection. If your company is rejected, they may not tell you exactly why, so you…
VP Of Sales – How To Save Yourself
Did you know that your position has the greatest failure rate of all positions in a direct selling company? That’s the bad news. The good news is that you can do many things to improve your odds to stay in your job. Why Failure Happens Poor Communication It’s common for the VP of Sales to…
How Do I Attract Top Leaders To My Company?
If you have an established direct selling or referral marketing company with annual sales of $50 million or more, you are likely to attract top leaders because you have a proven track record. But what if you’re new or your annual sales are less than $50 million? To attract top leaders, your track record isn’t…
Why Are Direct Selling Companies Struggling?
The Pandemic Effect For many direct selling companies, the COVID-19 pandemic was responsible for increases in recruiting and sales, because people were looking for ways to earn money while quarantined. Since the world reopened, the pandemic effect is in reverse, so today most direct selling companies are seeing reductions in recruiting and sales. The pandemic…
About Compensation Plan Transitions
Compensation plans are important. They motivate and reward specific behaviors. But what if your compensation plan isn’t doing that well enough? How do you transition from one compensation plan to another? The short answer is “carefully”, but you need to know more than a one-word answer. In this video, you’ll learn what matters most and…
Is It Ever A Good Idea To Pay People Only Through Bonus Pools?
All multilevel compensation plans pay people many ways and most of these plans include one or more bonus pools. Is it ever a good idea to only pay people through bonus pools? Before I answer that question, let’s define what a bonus pool is and then examine the purpose of a bonus pool while discussing…
How To Avoid Project Failure
At some time in your life, you’ve probably read about what it takes for a project to be successful. Equally important, however, is recognizing what you should not do on your project. How To Avoid Project Failure Whether your project is an MLM software implementation, the launch of a new direct selling company, a compensation plan…
Who Should Be Present When A Compensation Plan Is Designed or Improved?
When designing or redesigning a compensation plan, one of the decisions you will need to make is who should be present during the design process. An equally important decision is who should definitely not be present! Let’s tackle the first decision first. We recommend that a small group be gathered that includes the following types…
Customer Retention
Golden rules are the rules you should follow. You probably know this one: “Do unto others as you would have them do unto you.” However, when it comes to customer retention, the golden rules are different. Everyone loves a good story, especially one that makes a point as this one does. When Retention…
How To Make Good Business Partner Decisions
Just like marriages, business relationships can break apart for fundamental reasons. This video contains many important tips on how to protect your business from the risks of business partnerships. Great Business Partner Advice Whether you’re in search of new business partners or you’re already hooked up, there are smart things you can do now to strengthen…