How do I get paid? How much will I make? How long until I start making money?
How to Explain your MLM Compensation Plan…In English
One of the major problems with an MLM compensation plan is that it’s usually sort of complicated. Some people don’t even understand their own compensation plan, much less know how to explain it to someone else.
If that’s you then you’re not alone. A lot of people just don’t get it. One of the things that you need to really consider is that it’s up to YOU to know how your MLM Compensation Plan works. So often we avoid what seems like is going to be a pain in the butt to learn, but that’s not good for your overall chances of success, since it’s going to come up pretty often.
What will happen is that you’ll be so afraid of having to explain your compensation plan that you’ll avoid talking to people about your business, which will ultimately mean that you won’t have a business at all.
Don’t do that to yourself.
Sit down and learn your compensation plan no matter what it takes. Get on the phone with your sponsor, and if they don’t understand get on the phone with their sponsor. Learn it! Study it. Know it!
Once you do that work once, you’ll never have to worry about it again…plus it will give you a new confidence in your overall marketing. Many people who do understand the MLM Compensation Plan actually do much better, because they know how to take full advantage of every aspect of it. You may be actually cheating yourself out of money by NOT knowing.
What Do I Do In The Meantime When It Comes to My MLM Compensation Plan?
Ok so what if in the process of learning about your compensation plan you have a prospect that you’re talking to…what then?
Here are some tips in to be able to talk about your MLM compensation plan right now.
Add Benefits to the Features You Do Know About with Your Compensation Plan
You’ve got to know the basics of your plan at least…or else I’m sure you would have never joined. If you did, you may be quitting when you do find out about your particular plan…unless of course you’re in Agel with Ann and I .
So take the features of your MLM compensation plan that you DO understand and add some killer benefits to support them.
So for instance if your company is like Agel, and they pay a Fast Start Bonus for sponsoring people, then you can talk about that, and add as a benefit to that feature “this allows you to start earning an income very quickly and get your business off on the right foot extremely fast”.
If your compensation plan pays on infinite levels like Agel, you can say as a benefit “you get paid on each person that ever enters your organization from here on out, that means a huge passive residual income for you.”
The point is to use what you know about your MLM compensation plan for now, and expand on those features with benefits.
Use Your Sponsor on 3 Way Calls
A lot of people just starting out in MLM don’t want to bother their sponsors. In the beginning you feel like you’re always calling them and bugging them about something.
That’s the wrong attitude. Use your sponsor, that’s what they’re there for. If they don’t like it then either get away from them or remind them that each time you recruit somebody into your business opportunity, that you’re making THEM money as well.
But the fact is that nearly 99.9% of sponsors would rather you bother them at any time than to let a new sign up get away because you were unsure about how to explain the MLM compensation plan.
That’s what your sponsor is there for… To train you, and to help you get on your feet to start earning!
So there you have two simple ideas to take care of your problem right away, and the main and best idea would be to study and learn your MLM Compensation Plan (as well as others in the industry).