How Important Is Understanding Your Company’s Compensation Plan?

Do you have to understand your company’s compensation plan? Well, this is one of these questions where the answer is, “It depends who you are.” So when somebody first signs up in your team, is it important that they understand all the strategies behind the compensation plan and how it’s built and what they need to be doing? Absolutely not, so as they start building their team, I think the first important thing if you’re somebody who has a team that is less than 100 people, it’s important to start understanding the linchpins in your compensation plan. These are kind of the building blocks.

So what I mean is, you really need to understand how and what needs to be done to get to certain income levels or rank positions. So at the beginning, all you need to understand really is, “How do I get to the first rank?” Which is your building block and that’s what you teach to the brand new person that joins your team, nothing else, they really need to understand that there is massive opportunity to expand their income in this compensation plan but all they need to understand is, “How do I get to my first rank?” Now, if they’re already a six figure earning leader or even multiple six figure, then the answer is totally different. You see, as you start building massive teams perhaps even global and international teams, it becomes increasingly important for you to understand the behavioural implications of a network marketing compensation plan.

Now, you’re still going to be teaching people the basics and the linchpins of how to get to certain ranks but for yourself, you’re going to start to understand some of the structures and some of the strategies that help people create higher income such a six figure income seven figure incomes. So it becomes increasingly important for you to continue to improve your knowledge of your compensation plan. So if you’re brand new make sure you understand how to get to the first rank as you’re starting to increase and expand your team. Continue to improve that knowledge. And if you’re a leader start really thinking very strategically, so that you’re building massive momentum in the right way, because we can totally maximise the effort that we actually put into our teams if we understand the compensation plan in great detail.

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