It is now more important than ever before to have customers buying products who are not independent representatives of direct selling companies. One of the questions Sylvina Consulting was asked recently may be a question you’ve asked as well…. If having customers is good for business, why can’t I see all of the customers of…
Ask Victoria: What Is Landed Cost?
For a direct selling business to be profitable, it must have healthy gross margins. While margins can be calculated in several ways, at Sylvina Consulting we like to use what we call the “multiplier.” The multiplier is a ratio calculated as the suggested retail price of an item divided by the landed cost of the item…
Ask Victoria: What Should I Know About My Competitors?
As an entrepreneur, knowledge of the strengths and weaknesses of your competitors can help you to build a stronger business. When you take the time to do research, you’ll learn things you didn’t know, some of which you can use to your advantage. Direct selling companies have three types of competitors: Traditional retail or internet-based…
Ask Victoria: Is There A Legal Requirement For Customer Sales?
Party plan companies don’t ask this question, because almost all of their sales are to customers. If yours is a network marketing company, however, this is an important question to which you need to know both the short and the long answer.
Ask Victoria: What Is The #1 Quality You See In Successful Direct Sales Companies?
At the end of April, we held our 11th Direct Selling Edge Conference which is our two-day school for owners, executives, and employees of network marketing and party plan direct selling companies. We co-sponsor this educational event two times each year. Our panel of direct selling experts was asked, “What is the number one quality…
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…
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: What Is The Cooling Off Rule?
As a direct selling company, you need to know about the Federal Trade Commission’s Cooling-Off Rule. There are very specific steps you must follow to be in compliance with this federal law. It’s All About Changing Your Mind If a customer buys something at a store and later changes his or her mind, the merchandise…
How To Grow Your Company Faster
If you have a direct selling company, you probably want it to grow faster. Faster means more reps, more sales, more sales per rep, and more retention. So, how do you get all of these mores? First, you need to be ready for growth. How To Get Ready For Growth Let’s discuss products and services…
Ask Victoria: What Are The Characteristics Of A Successful Catalog?
A successful catalog is a catalog that captures the attention of the buyer and encourages that buyer to order from your company. Here are some tips I’ve learned over the years that can help you to create successful product catalogs: Avoid small non-representative pictures of your products. Make all photos large enough to show details….
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…
A Must In Every Starter Kit
For 27 years, I have consulted with network marketing and party plan companies to help build and improve their businesses. Recently, I stumbled upon something that is the greatest breakthrough in marketing that our distribution channel has ever seen. I’ve made a special arrangement to introduce it to my clients and other direct selling companies…