If you own or are employed by a network marketing or party plan company, one of your primary goals should be to attract and retain your independent consultants. Direct selling consultants are not employees who report to work each day with regular contact with their supervisors. They are independent contractors who are operating their own…
An Assessment of Stair-Step Compensation
The business rules of all multilevel compensation plans are built using components. These components include titles, title requirements, and eligible compensation types. For many years, Stair-Step compensation was commonly used in compensation plans, but times have changed. In this post, I will define and assess the relevance today of Stair-Step compensation. What Is Stair-Step Compensation? Stair-Step Compensation…
Ask Victoria: What Is Prospect Theory?
In 1979, Daniel Kahneman and Amos Tversky studied how people manage risks and make decisions. Their prospect theory became the foundation of the new field of behavioral economics. Kahneman and Tversky discovered some interesting results which you can use today to operate your direct selling company better. Here is what they learned: People prefer certain…