Compensation Plan Basics
There are many factors that go into determining what is the best compensation plan. Of these factors many of them are based on your experience and confidence levels with recruiting. Some compensation plans are more suited for those that are well established at recruiting, have experience in the Network Marketing industry and are working their business full time. While others are more suited to the individual who is new to Network Marketing, or who will be working their business part time, or even those that are more suited to the "average-distributor". That is the purpose of the the information contained here . . . to help you decide what is best for you.
One of the most difficult parts about determining what the best compensation plan is taking other people's opinions out of the equation. This is necessary for the simple fact that when you ask most Network Marketers what they consider to be the best compensation plan, the will almost 100% of the time tell you the compensation plan that their current company has is the best. If then ask them about any additional compensation plans, you will almost as certainly get a blank stare or if you are on the phone, dead air, as they only know the compensation plan they are in.
In this great industry of Network Marketing, all companies have to have a compensation plan, that's given. They also have to have a compensation plan that is lucrative for both the company and the distributor / associates as both have to succeed in order for the company, and the distributors / associates to survive.
What is the Best Compensation Plan?
There are tens of thousands companies in the Network Marketing industry with thousands of new companies starting each and every year. Along with these companies comes their compensation plans and also variations of compensation plans. To understand what the best compensation plan would require extensive research (which we know you are doing right now) plus the ability to see the numbers first hand from both a company and distributor / associate's point of view.
It is that last point that makes it very difficult if not impossible to clearly state what the best compensation plan it. Most companies will not open their books to third parties, which means in many cases the only way to see what is best is from first hand experience. We by no way are saying that need to join multiple Network Marketing companies to see what is best. No, we are simply saying that we cannot, nor can you, find a something that is completely unbiased and at the same time tell you what the best compensation plan is.
Having said all that, what we will do though is provide you with information that will allow you to make an educated decision. A decision that is right for you, because at the end of all the hype, all the network marketing information, the bottom line is the best compensation plan is the one that you perform best in.
Getting the Best Compensation Plan for You
It cannot be stated enough times that this is all about you. You are the one that will have to work at your business, you are the one that will have to work with your upline, and yes you are the one that will have to take full responsibility for your Network Marketing business. This is important to understand because even the best compensation plan, with the best product in the best company will not do it for you. You still do have to work!
Also you will need to understand what your skills and abilities are. Do not be worried if you do not have all the skills and abilities or if you are new to the Network Marketing industry. That is OK. Everyone has to start somewhere. The point is that you need to understand what you skill level is as certain compensation plans are more suited for experienced types of network marketers.
This doesn't mean that you can't work and succeed in a compensation plan that is suited to the more experienced. No that isn't the case. It is a matter of understanding the road that you will have to take functioning and succeeding in the compensation plan and company you choose. Unsure of what to do or what you need? Find a mentor! They will be be able to work with you to establish your action plan for your personal growth that will enable you to succeed in the Network Marketing industry!
7 Factors to Consider
Up to this point we have not given you any valuable way to sift through all the various compensation plans in the Network Marketing industry. This page was written this way as we needed to make clear to you that this is completely subjective. As you will see when looking at the various compensation plans, the ways in which you make money, when you make money - some front loaded some back-end loaded, and what you need to do make the money all varies. But at the end of the day, if you are happy with what you are working within, than that will make it the best compensation plan for you!
When you are looking at compensation plans there are 7 Key factors that we feel are important for you to determine what is the best compensation plan for you. They are:
- Easy to understand and explain
- Will have a proven track record
- The Company will be financially transparent
- The compensation plan will be evenly weighted
- The compensation plan will be fair to all distributors / associates
- Compensation plan bonuses are evaluated carefully
- The compensation plan is practical for you
To see more information on these 7 Factors to Consider for the Best Compensation Plan, go to . . . Page 2 >>
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