What makes a good company story? Often when we begin working with party plan and network marketing companies, we ask them to tell us their story, and how they got to this point. During the process, we begin to see some interesting points that seem to be consistent in each of their stories. Here are…
Is Your Compensation Plan Broken?
How do you know if it’s broken? In this post, I will explain the symptoms of a broken compensation plan, but first, let’s explore what a compensation plan is supposed to do for your company. Purposes of Compensation Plans Compensation plans should encourage and reward specific behaviors. These behaviors include: Personally purchasing your products or…
Policies and Procedures: Sponsor Changes
Introduction Policies and Procedures are the rules that govern the relationship between a direct selling company and its independent representatives. When fully completed, they comprise about 60 different topics. Needless to say, this relationship is complicated! In this post, we will tackle one Policies and Procedures topic. That topic is “Sponsor Changes.” Sponsor Changes Direct…
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: Why Charge A Renewal Fee?
Some direct selling companies charge their independent representatives annual renewal fees. Each company that charges a renewal fee does so usually for one of the following reasons: They provide their distributors with something of value, for example, a monthly magazine or a replicated website that they wish to charge them for, but not on a…
Social Media and the FTC
Social media is not going away anytime soon. How should we use it to help us, not hurt us? Out of Control You may have heard horror stories about social media being used by representatives to inaccurately promote income opportunities or products. Unhappy distributors or customers sometimes express their grievances publically for all to see. …
Ask Victoria: How Do I Get My Reps To Improve Their Customer Service?
“I shop quite a bit and spend a lot of money, but it isn’t often that I have encountered a company or a representative that is all about the customer. I will certainly be a repeat customer!” Wouldn’t you like to receive this kind of letter or blog post? Here are some things you need…
Outgrowing MLM Software
MLM software is a necessity if yours is a direct selling, network marketing, MLM, or party plan company. New companies can live without it for only a short while. The Heart of Your Business MLM software is the heart of your business and replacing your MLM software is much like a heart transplant. Like any…
Ask Victoria: How Is Recruiting Different From Hiring Employees?
Sometimes we forget that independent representatives are not employees. Recruiting is different from hiring employees. Understanding the differences is important. How You Find Them Most employees are hired by placing an ad (online or in a printed publication). Recruiting is most often done in person, with people talking with people. The Approach Hiring most often…
The Golden Rules of 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.
Can We Have A Simple Compensation Plan?
Simple MLM compensation plans are attractive because they are easy to explain. Unfortunately, simple compensation plans don’t motivate all of the behaviors that we want from a direct selling sales force. For example, a compensation plan that provides one level of compensation on the sales volume of others doesn’t motivate representatives to teach people…
All About Hostess Programs
Hostess programs are indeed like mini compensation plans for hostesses. They are designed to motivate specific behaviors. What behaviors are we talking about?