Thursday, March 31, 2011

Simplifying the Compensation Plan

What I will be trying to do in this post is to simplify the Compensation Plan that has just been recently posted in our back office!

I know looking at it, it can be very intimidating & overwhelming...especially if you have never been in direct sales before!

But once I had explained to me, I realized that it is very achievable...for anyone! So with that being said, I'm gonna give this a bear with me! :)

Ok...looking at the Comp grid from left to right, at the very top you see the different ranks! But we are going to go down the left hand side of the page!

#1: Consultant Rank - These are the different ranks that you can advance to! Simple!

#2: Personal Recruits - This is the # of people you need to personally sign up under you! (Your Level 1s)

#3: Personal Retail Sales Volume (PV) - Monthly: This is how much you have to sell per month! If you have a trunk show, this will be very easy (Home Trunk Show or Virtual Trunk Show) considering the average amount made in a trunk show is $750 - $1000!

#4: Team Retail Sales Volume (TV) - Monthly: This is how much everyone on your team (all of your levels) has to sell! So, in order to get paid, your team has to perform! For Example: At the Sapphire level, you have a $50,000 TV requirement! Break it down to a person doing 2 shows per week (Average per show is $1,000...that includes VTS & HTS). So, lets break it down!!

*Sapphire Level: You + 6 people (7 total) to hold 2 shows/week (VTS or HTS) = $56,000/month
*Ruby Level: You + 12 people (13 total) to hold 2 shows/week (VTS or HTS) = 104,000/month
*Emerald Level: You + 24 people (25 total) to hold 2 shows/week (VTS or HTS) = $200,000/month
*Diamond Level: You + 49 people (50 total) to hold 2 shows/week (VTS or HTS) = $400,000/month
*P. Diamond Level: You + 99 people (100 total) to hold 2 shows/week (VTS or HTS) = $800,000/month

And these people are people on your team! They DO NOT have to be personals (Level 1)!

#5: Required Team Members: This really isn't as complicated as it seems! For Example: For the Sapphire Rank, you need 3 people on your TEAM who are at the Pearl level or above! For the Pink Diamond Rank, you need 6 people who are at the Emerald level or above AND 2 people who are at the Diamond level...all performing/active! You just can't sit back & do nothing & not help your team...but also expect to get paid!

#6: Fast Start Bonus: This is when anyone on your 1st line buys a box! You will get 20% commission on it! For Example: If anyone on your 1st line buys a Courture Box, you get $200 commission check, since the box is $995! If someone buys the Designer Box, $495, you will get $100 commission check! And if someone buys a Fashion Box, $245, you get $50 commission check!

#7: Power Team Bonus: This is what I like to call the 3 for 3!! In a 30 day period, you enroll & personally sponsor 3 people (personals) & then you get those 3 people to enroll & personally sponsor 3 people, you will get paid the Power Team Bonus! If they all buy boxes, you will get 5% on each of their box.

#8: Retail Gross Profit/Jewelry Sales: You get that % listed (for whichever level you are at) on what you sell! Now...that extra 5% that you see under Pearl - Pink Diamond, you get that if you earn $1000 in any month! So you'll really be getting 30% on what you sell!

#9: Matching Check Bonus: This is really exciting!! This is where you get paid for your downline (different levels on your team)! This starts at the Ruby level!! Which, if you buy a Couture box starting out, you will start out at the Ruby level! But we'll get into the levels in a bit! So, if someone that you enrolled (Your level 1) has a $5,000 check one month, you get 7% of that $5,000! That's an additional $350 you will get just from the Matching Check Bonus! Now...let's say that 5 people have each a $5,000 check in 1 month! In addition to your team commissions, your personal sales commission PLUS commissions on your downline, you will get an additional $1750!! And that does not include the Fast Start Bonus! crazy is that?? That's amazing! :)

#10: Getting paid on your 1st line, etc: This part can get a little confusing! So I'm going to explain it the best I can!! This is paid on the Commissionalbe Value (CV), which is 65% of the retail value...with the exception of a Jewelry box!! For Example: At the Ruby Level, you are getting paid 12% on your 1st line! Now, if Jane (your Level 1) does $1,000 worth of sales, you will be getting 12% of $650 (65% of $1,000)! This is an example for being on the Ruby Level!!
*You DO get paid commission on boxes sold to people that are NOT in your 1st level (downline). That is paid on CV as well, but at 50% of retail value! FOR EXAMPLE: Someone on your 2nd line buys the  $1,000 Couture box, you will get 6% of $500 (50% of $1,000).

#11: One Time Rank Advancement Bonus: You will be rewarded in Jude Frances jewelry, but you must be that rank for 3 consecutive months! $5,000 in jewelry at Emerald, $10,000 at Diamond & $25,000 at Pink Diamond!

#12: Car/Lifestyle Bonus: This, I believe, you will be able to use for anything! $1,000 bonus at Emerald, $2,500 at Diamond, & $5,000 at Pink Diamond! You will get this monthly as long as you hold your rank for 3 months!

Let's talk a little about the Host Rewards Program, which is amazing! :)

You start earning Host Credits at 10% of sales & go up to 25% in free jewelry! Host credits equal a % of the Trunk Show Sales! For Example: Hostess has $1,000 trunk show for you. She will get $250 worth of free jewelry(retail sales)! You can even host your own show twice per year & earn free jewelry! There are 160 pieces coming out when we go live! There will also be 1/2 price buys & host-only exclusives available! There will also be booking credits! For Example: The guest who books a Trunk Show will receive a $25 booking credit to be used at their future BambooPink Trunk Show! For Trunk Shows with orders between $150 - $299 AND 4 qualified orders, the host will receive a 10% jewelry credit!

So, how amazing is it to be a part of a company as generous as BambooPink! I think that this is a great opportunity for ANYONE!! :)


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