July 4, 2007
Just to finish off on comp plans…
As I said previously, I’ve had quite a lot of experience in network marketing over the years, involving a number of different companies. That’s how I got to know the ins and outs, and the pluses and minuses of different types of compensation plan.
But (you might be asking) if it’s such a good industry, why would anyone want to change companies?
The answer is not too surprising. While it has some unique advantages, network marketing also has a number of things in common with all other forms of business or profession. For example, no matter what the industry, a lot of people move on to advance themselves at some point in their career. They may even be head-hunted, as I was on one occasion. And companies are sold, things change, and some people leave. All pretty normal.
With network marketing, it might be that you’re keen to progress, but for whatever reason you can’t get the support that you need. Or the compensation plan may have looked good, but it just doesn’t work as well in practice. Sometimes, for no apparent reason, people “stall” at a point in the marketing plan (like middle management in a job) and start to lose their momentum.
At this point a lot of people stay on as product buyers – because usually the products are very good – but they stop building the business.
Then along comes a friend with an exciting new proposition, and a powerful new product line, which gives the person the shot in the arm that they needed. All of a sudden they’re off and running, all the more rapidly for the experience they’ve had in their previous company.
So let me describe to you what drew me to my present company, and what’s happened since I joined. Because I haven’t been this excited in years, and it typifies some of the “new breed,” the “new generation” of marketing plans and products that I mentioned last time.
Remember: we’re talking here about the binary style of plan that I wrote about in my previous post. If you haven’t yet read it, or need to refresh your memory on the details, you might like to check out my April 28 post before going on.
This plan has always had some very good points. (E.g. you can pick up volume as far down in your organization as you need to go, all the way up to “maxing out” one of your business centers). But one of the plan’s limitations was those two positions immediately under you.
Left side, right side, and that was it.
To reward business builders who brought in good, reliable weekly volumes, some companies granted re-entries to people who maxed out consistently (i.e. built up to the maximum paid weekly volume) on both the left side and right side of one business center.
This meant that, if you wanted to, you could increase your total earnings beyond the maximum for just the one or three business centers you joined with. You put your re-entry in to pick up volume under an already maxed out center, under someone in your downline who had a lot of potential and was going places, or wherever else you felt it was going to do the most good. And off you went again.
A pretty good incentive for the person who wanted not just a nice extra income, but the whole lifestyle thing that network marketing can provide. Throw away the alarm clock, work from your home at whatever pace you wanted, be there for your spouse and children, and onwards and upwards from there.
But here’s where the “new generation” binary plan makes it a whole new ball game.
Once you reach a certain level in this binary, you are granted another position above your existing one, putting your entire existing organization in one leg as you start a new one. This is opposed to others where you just open an internal leg and half your organization becomes one leg. You also get three of these re-entry opportunities giving you four positions in total as opposed to three which is common in other plans.
The plan truly rewards those who are helping others. You can't become an executive until you have helped someone to Star 500 and the plan continues to challenge you in this way to reach each successive level. I see more people making "decent" money in this plan with this company and product than I have ever seen in my experience.
At an event, you are used to that smaller group of big earners. But at the most recent one I attended there were well over one hundred low level (Bronze, Silver, and Gold) executives honored — and this was just a regional meeting for one large team.
In fact, there are pages and pages of people advancing in rank (and income) every pay period. With other companies, you might see one or two pages of advancements at most. What’s more the company itself is setting new records for growth in the industry.
The other thing that I’m excited about with this company is the product itself.
Obviously I can’t mention the product name and make any therapeutical claims about it, as that could infringe FDA regulations.
But I can tell you this: before I started to take this product I was having some really bothersome joint pain. Now I don’t. On top of that, my mother had elevated blood pressure, some knee pain and some fibromyalgia pain. Now she doesn’t.
Stories like this abound, which gives you not only a great feeling, but a lot of confidence that this is a company and product which is going to be around for a long time. And for those who grow with it, I truly believe that the sky’s the limit.
Next time, we’re going to look at a new topic which will help you on the road to success in this wonderful industry.
Spread the word
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