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MLM Personal Account and MLM E-wallet

Permalink 04/27/14 11:34, by admin, Categories: MLM Software, Members Back Office, Features , Tags: e-wallet, mlm software, personal account

Link: http://www.internetnextstep.com/personal_account.htm

About 15 years ago INS MLM Software envisioned a better way to handle payments and created what we call the MLM Personal Account, now often called an MLM E-wallet, allowing members better control of their earnings and companies significantly higher profitability by using it.

So where did it come from?

Long ago when Dennis Wilson was a distributor in a company called TeamGlobe.com which was kind of a Skybiz knock off he built a very large team in Japan.

One day while doing a presentation for 300 people in Osaka he saw one of the most interesting, scary and exciting things happen.

After 45 minutes of everybody being totally quiet and expressionless (those who have built teams in Japan know what I am talking about) the presentation was over and I thought I was a perfect FAILURE as nobody appeared interested at all.

Then as the leader I was doing the presentation for came on stage and suggested it was time for those who wish to get involved to go to the back of the room and see the helpers there to get started, almost everyone formed very neat and orderly lines.

295 of 300 signed up ON PAPER (it was a total online company....)

Problem, they all paid CASH!!

Now at the time, that leader I did the presentation for was making considerable commissions.

Keep in mind, I was just a Networker, I did NOT represent the company, though I was the top earner and had a very good relationship with them.

I asked him what were we going to do with all the cash, 295 x $500 = $147,500!!!!!!!!!!

He said no problem, we will just wire transfer it to the company in the morning and fax them all the applications... as he walked out of the room with a duffle bag full of cash and applications..

Without getting into the logistical nightmare of Japanese applications being sent to a company that had no staff to handle such a thing, suffice to say I worked it all out, $147,500 in sales seemed to smooth over the company concerns...

I thought there had to be a better way...

The Personal Account System was one of the first advanced features we built into OUR MLM Software when we started, all based upon that amazing experience.

Learn more at:

Learn More at: http://www.internetnextstep.com/personal_account.htm

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Coded Bonus for MLM Compensation Plans

Permalink 05/26/12 16:37, by admin, Categories: Commission Plans, MLM Startup Consulting , Tags: binary, coded bonus, matrix, mlm commission plan, mlm compensation plan, unilevel

Link: http://www.internetnextstep.com

The use of an MLM coded bonus has increased of late. The coded bonus is an upfront bonus type of instant money, and is a bit of a take off of the Australian 2 up compensation plan.

The difficulty with MLM coded bonuses are they mean something different to everyone you talk to. So the simple term Coded Bonus is very unspecific, as there are so many different ways of doing a coded bonus, yet most members do not know this and they assume every coded bonus is the same. They are not.

The setup of the coded bonus for MLM Compensation Plans or Commission Plans is very similar to the 3 Level Roll up QEB. The calculation of how to set the amounts and points is the same.

The 3 Level rollup Quality Enroller bonus method is a bit different in that it doesn’t normally split between members.

The big difference is in the execution of the bonus.

When a member A joins at the $500 Level they are coded with a coded bonus at the $500 level. Every time they enroll someone at the $500 level, that person is coded to them and forever they earn a particular coded bonus on that members purchases including their initial package.

If member A joined at the $500 level and signed up B for $1000, B would get coded to the first person above A that is coded at $1000 and earn the coded bonus.

While initially coded bonuses look great, normally members quickly begin to resent the people they lost to higher codes in a coded bonus plan. Not as bad when the code can be purchased like in the example above, but more so when there are also qualifications to reach a higher code.

It effectively would mean as you are working hard bringing on your A team, all of your A team is getting coded to someone that is not YOU! Normally you can never recover them either.

The supposed up side is as you advance, all those below you end up giving their leaders codes to you now so it all works out.

We have found MLM’rs egos to prevent this from seeming right for very long.

You can often tell if you have it wrong as right from day 1 your “Leaders” will be begging you to “Gift” them the higher code in order to come onboard. If you have to “Gift” all your leaders the higher code, this should be a warning sign that your Coded Bonus method is not right and likely not sustainable.

As a result of the downsides, we always recommend coded bonuses be used in conjunction with a normal matrix/binary/unilevel so that the matrix plan, binary plan, or unilevel plan can create enough excitement and income that by the time the coded bonus negatives get to big, nobody is overly concerned with it as they are earning nicely in the main plan at that point.

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Setting Up an MLM Company - FREE MLM Consulting Resource

Permalink 03/27/12 23:48, by admin, Categories: MLM Software, Commission Plans, MLM Startup Consulting , Tags: mlm company, mlm consulting, mlm software, mlm startup

Link: http://www.internetnextstep.com/setting_up_an_mlm_company.htm

Setting up an MLM Company FREE MLM Consulting Resource!

We at INS get asked constantly many question about Setting up an MLM Company. We feel we have a wealth of information in our MLM Consulting and MLM Software Blogs, so thought we would make this page about Setting up an MLM Company including original information and articles from our MLM Startup and MLM Consulting Blogs.

We do need to say one thing very first, and we know it will sound self serving. Make sure you make your MLM Software purchase EARLY in your planning stage. The reason for this is, your MLM Software capabilities can drastically change how you ultimately put together your MLM Company. Good MLM software can open your eyes to all kinds of innovative ideas to keep you at the forefront of the industry. Bad MLM Software can severely limit your options of what is possible without spending on additional customization costs.

We have just added a page to our http://www.internetnextstep.com website specifically called, "Setting up an mlm company" as a FREE MLM Consulting resource to help out.

Let us know what you think!

INS can certainly help to design an MLM Compensation plan should you need help with yours. We have a generous Share in the risk plan on MLM commission plan design available to all our MLM Software clients.

Contact us today to learn more about INS MLM Software or our other MLM related services or request pricing by Clicking Here.

Internetnextstep.com Consulting Ltd.
http://www.internetnextstep.com
Your MLM Software, MLM Consulting, and MLM Commission Plan Design Experts
+1 (604)-998-2256

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The Danger of Fast Start Bonus Package Upgrades

Permalink 03/26/12 20:05, by admin, Categories: MLM Software, Commission Plans, MLM Startup Consulting , Tags: fast start bonus, mlm software, quality enroller bonus, upgrade

Link: http://www.internetnextstep.com

The Danger of Fast Start Bonus or Quality Enroller Package Upgrades

The next thing to consider with this type of FSB or QEB bonus is if you will allow upgrades between package levels.

While allowing an upgrade for the difference between levels may seem logical and fair it is actually very damaging to your business and leaders income.

The reason is you have effectively let member’s greed and fear of loss no longer propel them to a higher joining package. They will join at the lowest level thinking they will just upgrade should they find someone who wants to participate at a higher level.

A way to deal with this is to allow the upgrade but with a penalty in the total money spent.

For example, make the upgrade from $250 to $500 cost $350 or even $500 so the initial purchase decision is taken more seriously. This significantly helps the weaker networkers as the plan convinces the new enrolee to stretch vs. the enrolling member needing to beg or push.

INS can certainly help to design an MLM Compensation plan should you need help with yours. We have a generous Share in the risk plan on MLM commission plan design available to all our MLM Software clients.

Contact us today to learn more about INS MLM Software or our other MLM related services or request pricing by Clicking Here.

Internetnextstep.com Consulting Ltd.
http://www.internetnextstep.com
Your MLM Software, MLM Consulting, and MLM Commission Plan Design Experts
+1 (604)-998-2256

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3-Level Roll Up QEB Bonus - Explained

Permalink 03/25/12 23:53, by admin, Categories: MLM Software, Commission Plans, MLM Startup Consulting , Tags: mlm commission plan, mlm compensation plan, mlm software australia, roll up bonus

Link: http://www.internetnextstep.com

We want to take a moment now to increase on the knowledge we have shared with the Single level QEB bonus type for MLM Commission Plans or MLM Compensation Plans.

The 3-level or even Multi Level Roll Up QEB bonus for MLM compensation plans.

In this scenario, we break up the bonus into 3 levels deep. As mentioned before. Usually 50%, 25%, %25% works great.

So using our same $500 and $1000 example, we would have:

$500 Package, Total Bonus $170 broken to Level 1 (50%) $85, Level 2 (25%) $42.50, and Level 3 (25%) $42.50.

Should someone join at the $500 package level where the bonus would be $170 total broken down to $85 - $42.50 - $42.50 and they enroll someone who purchases $500 they get their $85 and the person next in the upline that joined with a minimum of $500 gets $42.50, and the next person in the upline that joined with a minimum of $500 gets $42.50. Anybody in between who purchased less than $500 gets nothing!

So if person A joined for $1000, enrols person B who joins for $500, who then sponsors person C for $1000, the bonus would work in its 3 Level form.

Person A is Qualified at the $1000 level.
Person B is Qualified at the $500 level
Person C is Qualified at the $1000 level.

Person A earns $85 for Person B.
Person B earns $85 for Person C. Notice NOT $170 as he is not qualified with a $1000 package.
Person A earns $85 for LEVEL 2 of selling a $1000 package.
Person A ALSO earns Level 1 $1000 package of $170 – the Level 1 $500 already paid to person B which would be $85 as they are the first $1000 qualifed member!

This lets greed and fear of loss drive the initial product purchases. It also rewards members for helping their team vs. only getting paid for personal recruitment of folks who start with a big package.

INS can certainly help to design an MLM Compensation plan should you need help with yours. We have a generous Share in the risk plan on MLM commission plan design available to all our MLM Software clients.

Contact us today to learn more about INS MLM Software or our other MLM related services or request pricing by Clicking Here.

Internetnextstep.com Consulting Ltd.
http://www.internetnextstep.com
Your MLM Software, MLM Consulting, and MLM Commission Plan Design Experts
+1 (604)-998-2256

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