
Consulting: Compensation Plan Review
If you are contemplating the launch of an MLM venture because you are under
the "get rich quick" ether, STOP now and save yourself time, and money.
Building a successful compensation plan is about building a complete company.
By complete company we mean one that satisfies 5 basic key areas of core
competency and also has those areas operating in unison with one another. The
five key areas are listed here in order of importance:
 |
Management |
 |
Product or service |
 |
Opportunity |
 |
Community |
 |
Compensation |
Management is the brain of your company. Without it, the company would be
without purpose or direction. The purpose of an MLM company is to sell product
and service. This is the cornerstone of any successful MLM company.
Successful MLM companies sell their opportunity as well as a product or
service. Often times, opportunity can be as simple as recognition - you would be
surprised to know how many people are motivated by receiving attention.
Recognizing and understanding that Community is also essential to building a
strong team and support structure...selling can be a tough business!
Finally, there is compensation. A successful compensation plan accounts for
the other four key areas addressed above before it is formulated.
The bottom line: a lucrative compensation plan will not lead to a successful
company; however a successful company will make a compensation plan lucrative.
Unilevel, Matrix, Binary and Hybrid compensation plans take complex
mathematical algorithm development, strategic qualification placement and an
understanding of the need for recognition to develop. Multisoftware (Thailand) LTD. has
years of compensation plan analysis, field study and corporate management
experience to craft a plan that nurture the beginners, but also provides for the
most advanced distributors. |