MLM COMPENSATION PLAN COMPARISON
Making the Best Choice for Your Company.
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MLM compensation plan comparison is an important step in planning the launch of a new direct selling company. It can also be necessary for an existing company in need of a major overhaul. Compensation plans (often known as “comp plans”) are how independent distributors get paid for their sales, and how they earn from the sales of other people they’ve recruited.
There are so many different kinds of plan, making an effective MLM compensation plan comparison can be challenging, especially for startup founders. Take a look at the list of common plans below. They’re not all equally important, but we’ve listed them alphabetically so as not to prejudice your choice:
- Spill over Binary
- Stair Step
Especially for new companies making initial MLM compensation plan comparison, there are a few essentials to bear in mind. These concepts also apply to existing companies who are considering a comp plan overhaul
Placing Your Comp Plan in Context
You can’t build direct selling success on compensation alone. In this industry, many factors must be in place to secure your success. A good direct selling consultancy will certainly help guide your MLM compensation plan comparison, but they will also keep reminding you of the wider context. They will help you think through every aspect of your launch or growth, and help you integrate your comp plan into the bigger picture.
This is the Sheffield approach, and it’s why The Sheffield Group is the most respected consultancy in the direct selling industry. So let’s take a closer look at the larger issues surrounding your MLM compensation plan comparison.
Five Keys to Your Success
As we’ve mentioned, even the best compensation system will not ensure your company’s growth. Whether you’re a startup or an existing MLM, here are five factors that your success will depend on, quite apart from distributor compensation:
- Value proposition: Products that meet a real need and that have a story to be told.
- Company culture: An inspiring mission and strong values, with a welcoming community.
- Technology: High quality tech providing a great shopping experience for consumers and business management for distributors.
- Company brand: A memorable brand supported by superb online, mobile and printed marketing materials.
- Executive leadership: Inspiring, accessible, and honest corporate leadership.
With all these in place, the right comp plan can add to your success. Only Sheffield has the proven track record of delivering on all these other aspects of direct selling success. At the same time, Sheffield is the best resource to guide you in making your MLM compensation plan comparison.
How Sheffield Can Help
The Sheffield Group will review every aspect of your business, including your MLM compensation plan comparison. Here are just three of the factors that your consultants will consider:
- Product — Is your product ideal for direct selling?
- Market — What are the demographics, needs and aspirations of your target market?
- Competition — Who are the key players in your space, whether direct selling companies or not?
Based on this review, Sheffield will help you select the best comp plan for your business.
At the same time, your Sheffield consultants will help you optimize the multiple factors that your success depends on. They’ll even give you with a detailed task list to manage every feature of your launch or relaunch.
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Sheffield: Your All-Round MLM Experts
Founder Mike Sheffield is renowned as an industry leader in MLM compensation plans. For over 30 years, his team has been delivering effective solutions to some of the most renowned companies in the direct selling industry.
Importantly, The Sheffield Group is equipped to address every aspect of your future success — either with our in-house consulting team, or with the support of our world-class network of specialist experts.
SHEFFIELD’S IN-HOUSE CAPABILITIES
- Concept and Product Review
- Compensation Strategy
- Marketing Strategy
- Sales Pathways
- Product Positioning
- Distributor Recruitment Strategies
- Financial Modeling
- Culture Development
SHEFFIELD’S EXPERT NETWORK
- MLM Software
- Branding and Design
- Website and App Development
- Online Positioning and Marketing
- Social Media
- Executive Recruitment
- MLM Law
Your Next Step
Looking for the best possible help in making your MLM compensation plan comparison? Contact The Sheffield Group for a free initial consultation. To make an appointment, simply call us, or click the Message link below.