From years of experience, we know that most people starting an MLM company don’t understand and at the very least, underestimate the importance of finding and working closely with the right merchant processor and more importantly, bank.
A year ago, I wrote an article called, Get GDP or Get Fined 20 Million Euros, where I warned about the European Union targeting companies.
Aristotle once said that, "the whole is greater than the sum of its parts." While you may not be up on BC era philosophy, this is a valuable lesson for business owners and entrepreneurs alike. A team working together in harmony can accomplish much more than a bunch of individuals doing their own thing. If you run a business with employees, outside agents, or individual distributors, getting them to work together is one of the most critical
What is a Mentor?Everyone needs good mentors along life’s journey. Their guidance can make all the different between success and failure. A mentor is someone that is a wise and trusted adviser that has traveled the journey that you are navigating. The mentor can be young or old but has certain areas of expertise that will foster learning and development of the mentee.Value of a Good MentorThroughout my life, I’ve been blessed to have associated with some
If you’ve ever wanted to change your network marketing or MLM compensation plan, you’ll quickly realize that doing so is a cautious exercise that involves part art and part science. Change it too often or too drastically and you could run the risk of losing your whole company. Refusing to change when change is needed can also put you at risk.There are a million ways for your business to die in the network marketing space but those
You may often hear many MLM and Party Plan companies touting they have the highest payouts or the best compensation for their distributors. So what is a compensation plan? What are the aspects you should look for in a compensation plan?A compensation plan is a set of rules that determines how distributors (often called reps, independent business owners, or team members) earn commissions, overrides, bonuses, and other compensation.The two most popular types of compensation plans in the
Over the last 20 years, I have owned no less than 5 businesses. If there was one insight I could leave with you as a business owner, it is this - don’t ever go it alone on calculation, paying and filing your taxes. Getting behind on or missing payroll tax deadlines is probably the most perilous event you can face. The next most important thing to do, is to properly file and then pay your sales tax.
The Next 4 Speed Killers From The First 3 Speed Killers... Entrepreneurs are often consumed with the idea they're losing business everyday they are not launched. This thought track can often derail an otherwise great business or product launch. In the rush to get launched, companies can overlook or be under-prepared for many important aspects of their business. At the same time, overthinking and indecisiveness can be just as detrimental to a quick and successful start
I’ve been in the direct sales industry for over 30 years now and love it. Sure, it has its ups and downs, rewards and failures and emotional highs and lows, but looking back, I wouldn’t change my involvement, experiences or acquired knowledge from this industry for anything.If there is one lesson that I’ve learned from all those years, it’s summarized perfectly by one of the world’s most proficient men, Mark Twin, who said,“I am an old man
One lifelong lesson that my father taught me while growing up is that "there is no such thing as a free lunch". This popular adage communicates the idea that it is impossible to get something for nothing. The phrase was first coined in the 1930's and 1940's when American bars offered "free lunch" to their patrons in order to entice drinking customers to patronize their business. The bars were willing to absorb the write-off of there
