A budget is an itemized summary of expected income and expenses for a period of time. The most important word in my definition is “itemized.” A budget is not just a total. If you’re starting or growing a direct selling company, the odds are high that your funds are limited. You can’t afford to…
Ask Victoria: What Are The Best Reasons Not To Write A Business Plan?
One of the topics I discuss with my clients and prospective clients is the importance of a direct selling business plan. When I bring this subject up, I hear some very interesting reasons why they don’t bother to write one. Here are some of them: My idea is too big. I can’t write it down,…
Ask Victoria: When Is It OK To Launch With A Multiplier Less Than Five?
Your profitability as a direct selling company and the richness of your multilevel compensation plan each depend on your multiplier. What Is A Multiplier Your multiplier is the average number you get when you divide the retail price by your landed cost. For example, if the retail price for an item is $50 and your…
Next Year: What Matters Most
As each new year approaches, there is societal pressure to make one or more New Year’s resolutions. Perhaps you have felt it, or maybe even someone has asked you what are yours. As MLM consultants, we feel the pressure, too. Most Popular New Year’s Resolutions According to the web portal of the United States government,…
Ask Victoria: Where Can I Send My Employees To Learn More About Direct Selling?
Did you know that the average employee of a direct selling company has never worked for a network marketing company or a party plan company like yours before? This means you have employees who don’t know enough about direct selling. Where can they go to learn what they need to know to make big contributions…
Ask Victoria: When Should I Ask A Direct Selling Business Consultant?
My guess is that you have already put a lot of time, money, and energy into your party plan or network marketing company. It’s your baby, but it’s hard to be a good parent when you haven’t done this before. You may be wondering when is it time to ask a direct selling business consultant…
Direct Selling, Network Marketing, MLM, and Party Plan
If you’re confused by these words, then read this article to understand the differences between direct selling, network marketing, MLM, and party plan. Direct Selling Direct selling is the sale of a product or a service that is conducted outside of a permanent retail location. Most often, the sale occurs from one person to another….
Ask Victoria: How Important Is Your USP?
A USP is a “unique selling proposition.” It is something that sets your company and your products apart from your competitors. Your reps need to know what to say about your products or services or your company that differentiates them from others. You need to determine these things and you should do that now if…
Direct Selling Edge Conference
Where can you go to learn all about compensation plans, legal considerations, MLM software, social media, merchant accounts, tax obligations, and more? If you are starting a new direct selling, party plan, or network marketing company, you are hereby invited to join Sylvina Consulting, MLM attorney Kevin Thompson, and other direct selling professionals at the…
Ask Victoria: Should I Start In A Saturated Market?
Every few months it seems that I am talking with someone who asks me something like this: I want to start a home party plan company with jewelry/makeup/skincare, but my friends say, “There are so many of these kinds of companies already, you won’t make any money.” With so many young women entering the marketplace…
Ask Victoria: How much does it cost to start a direct selling company?
This is a good question to ask, but a difficult one to answer because there isn’t a single magic number to give you. I can tell you that our clients have launched their businesses for as little as $20,000 and as much as $2,000,000. To help narrow the cost, here are some questions to answer:…
Ask Victoria: What Should I Do First?
If you have an idea for a new direct selling company, you may be asking this question. It’s easier if you have some steps to follow. Here are 12 of them: Chinese proverb: “The palest ink is better than the best memory.” Write down your idea to help give it clarity and as the proverb…