When the LIFE company was established, one of the primary goals of its founders was to accomplish something in the area of compensation that hadn’t been done before. The heart behind this was to offer financial rewards that would truly be based upon performance. But there was more. It was also desired to put a heavy emphasis on revenue sharing with the field – this is “corporate speak” for not letting the company keep most of the profits. While many (but certainly not all!) pay plans appear to be at least somewhat fair in terms of how the money is split amongst participants in the field, what often is NOT fair is how much money finds it way back to the corporation. The result is a subtle but real conflict of interest between the company and its field operators. Therefore, right off the bat, LIFE designed its financial plan in such a way that most of its profits flow to the people who are actually doing the work to make the revenue happen in the first place. Right out of the gate, the percentage of gross revenue paid back to the field in commissions was structured to be in the (estimated) 65+% range. This, as far as we know, is an industry high. Then, after just two months in business, LIFE announced its One Time Cash Award program, which put even more money into the field. It is still too soon to know the exact figures (as some of the qualification periods for these rewards don’t end until the end of 2012), but we believe this will put the percentage at something approaching 70%.
How can this be done? How can a group of founders establish a company on such lean terms? The answer comes from the strong belief that the best leadership for this type of company can be provided by those who are actually doing what they are teaching and expecting others to do. THIS, as far as we know, has never been done before: corporate founders who deliberately establish the financial incentives in such a way as to keep themselves in the game, out in the trenches, and thereby providing the means by which most of the profits flow to the field.
And now there’s more. On April 27th, at the Spring Leadership Convention in Columbus, Ohio, LIFE will announce an additional incentive program representing even more new money being put into the compensation program. This will be a reward package that will be attractive to new participants and attainable early in their experience with the business – in other words, something they can qualify for in the near-term, not “someday.”
All of this, in the LIFE compensation plan, is in addition to LIFE’s groundbreaking position between the four industries of Personal Development, Home-based Businesses, Life coaching, and Community building, and takes advantage of LIFE’s high-value position in the market of personal development materials, wherein its products are among the lowest priced in the marketplace (in some cases hundreds of percent cheaper than its competition). And, don’t forget, all of LIFE’s products are backed with a 30 day money back guarantee.
When LIFE founder Orrin Woodward says, “We don’t promise easy, but we do promise worth it!” the LIFE founders have done their best to structure a compensation plan and reward system that shows his statement to be much more than mere rhetoric.
I hope this helps!
Reblogged this on Dave Ober Life Leadership Team and commented:
A totally new industry for the information age!
Reblogged this on Kristen Seidl – Living an Intentional Life and commented:
LIFE just keeps getting better and better!
Pingback: LIFE/Team convention to announce more compensation for communities! « Dan Hawkins Leadership and Life
The PC leaders have once again proven they are to caring servant
leaders. I am overwhelmed with how LIFE will make a difference in countless lives for many people for many years to come. Thank you PC leaders. Yes! Life keeps getting better.
Reblogged this on timkotzmanleadership and commented:
This is history in the making…
Pingback: Orrin Woodward and Chris Brady continue to climb Top 30 Leadership List | Matt Mielke LIFE Leadership
Pingback: What’s The Scoop? « Steve Leurquin Excellence in Living
It’s absolutely crazy how much money is available in the LIFE Comp Plan. Our leaders continue to hold the bar high in serving every member of LIFE and giving of their time,talents and treasure to ensure our country has the best opportunity to re-gain its greatness. God bless the LIFE/TEAM leadership and God bless the United States of America!
I like to lead and hope to lead but will follow only Healthy an Good Leaders. Sick leaders should leave and let healthy leaders to take over FOR sick leaders will only made their Country SICK and to hold on another DAY we get sick everyday.
Go to the hospitals and clinics and you see long queue as we have a SICK leader try to lead us to MORE illness.
Maybe SARS comes back because of IT?