There are a variety of compensation plans in the network marketing world.Do a full investigation before signing on the dotted line. I’ve had experience in a couple but my new favorite, by far, is the Binary Compensation Plan. Here’s why:
Easy to Understand: I’m a pretty simple guy and I like a plan that is easily understood. A binary compensation plan is easy to describe to prospect business partners. You either place new members left or you place them right.How could it be easier? Keep it super simple by telling new downline to place OUTSIDE left or OUTSIDE right only. Again, it all depends on the prevailing thoughts in your respective company.I think the simplicity of binary compensation overshadows any possible downside.
Two Teams: In a binary compensation plan you only have two legs. That means you can devote time as you see fit and drive growth in the shorter leg if needed (always consult your upline leadership regarding the property placement of new members).Shoot, you get a superstar on one side that grows a huge downline and then you only have to focus on the other side!
Upline Success: You might be in the perfect spot to take full advantage of the growth of those above you.If you’re placed in the right spot, you could benefit from your upline’s growth. Again, it all depends on where your upline is placing new members, but you could realistically get a huge power boost by not even lifting a finger.
Focus on the Bottom: Work the bottoms of both of your legs.What’s the result?The action can ignite momentum among both new and old reps. How does it motivate the new ones? You and your team focus on helping the newest members by quick-starting their prospecting .Assist them in the growth of their business.
Synergy: Pretend you just sponsored Brian. Brian may have a lot of talent but has, as of yet, not shown his potential.His organization is growing as yours is. Why? Because depending on which leg he’s on, at some point you will have to put new members under him.How does that help? That starts the growth of his business. At some point he should take a look at his business and realize, “Holy crap! I have 328 people on my team! I love this binary compensation plan!” Show him how this will allow him to only have to work on one of his legs. Try sending Brian a quick email saying, “Congratulations on the growth of your business.” See what happens.
Synergy can be contagious. Literally you can have a group utilizing the binary compensation plan and everyone is working together to build the collective team. Awesome!
Do your due diligence and fully investigate your network marketing company’s compensation plan. Dig into what it takes to grow your team.Checkout how you’ll be getting paid. A binary compensation plan may work well for you or it may not.So check it out…and good luck!