So, You are Thinking of Starting a Company: What You Need to Know

Sean Smith Shares Powerful What You Need to Know

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The direct sales industry is on the rise. I’m approached every day by people looking to enter the direct sales market with a startup company. Here at InfoTrax, we launch an average of three startup companies every month and due to the growing main-stream acceptance of direct sales, I expect the trend to continue.

Starting a direct sales company, or any company for that matter, is never easy. There will always be unforeseen issues, unexpected costs, and unruly personnel. These types of issues are not unique to your company. The business gods are not picking on you for any particular reason; you will simply have to be prepared for anything to happen.

At InfoTrax, we have launched hundreds of direct selling companies on our software. Year after year, I see companies face struggles that could have been avoided. Watching the growth of these companies has taught me that every company should answer three questions before they launch: 1) What exactly is your product, and does fit in the direct sales space? 2) Do you have someone at the lead with Direct Sales executive experience? 3) Do you have capital to fund the project?

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Starting an MLM Company That Will Last, Part 2 by Mark Rawlins

Mark Rawlins Shares The Ever Evolving distributor motivations

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Multilevel Marketing is big business. There are dozens of companies (including Infotrax) that sell products and services to MLMs new and old. My company has been supporting companies in the industry for decades. I have seen a lot of companies start: some fail some succeed beyond their wildest expectations, and many others fall somewhere in between.

Evolving distributor motivations

As a company grows, the needs and motivations of the distributors it attracts change. Just as companies are started by entrepreneurs, the first distributors who join a company are themselves entrepreneurs. However, as a company becomes more established, it attracts distributors who are more conservative, more risk adverse.

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Vetting Software for MLM Startups

Vetting Software For MLM Startups

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Choosing an integrated MLM software package is one of the most important decisions a startup will ever make. The decision is much more just than a technological choice. The overall structure of your company should be fairly simple. Your company should effectively take customer orders, ship products to customers, and calculate and pay commissions to distributors. You need a software solution that will support these processes and assist you in being successful. Based on my experience, here some points to consider when deciding upon a software solution.

Establish a clear vision

You need to have a clear vision of what your company is about, focusing on the following three facets of your organization:

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Secure credit card processing, Part two

Why Is Credt Card Processing Important For Network Marketing Companies? Pt 2

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New companies in direct selling start with developing their product, their commission plan, and their founding distributors. The next big requirement to starting your business is to get credit card processing. You can only work with cash payments for a short time before you realize there is a need for electronic payments. A few questions might come up. How do I get a merchant account and credit card processing gateway? How long does it take to set them up? How many do I need in order to work in multiple countries?

To begin earning revenue as a company, it is important to work with your software provider to connect your commissioning engine, order processing, fulfillment, and returns systems to your merchant account. I recently had a conversation with Glen Rawlins, a merchant processing and fraud monitoring consultant who works with startups and companies seeking to expand internationally. He has observed the difficulty new companies go through when they try to get and maintain merchant accounts.

Avoiding credit card fraud

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Secure credit card processing, Part one

Merchant Services Can Make Or Break Any Direct Sales Company - Part 1

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New companies in direct selling start with developing their product, their commission plan, and their founding distributors. The next big requirement to starting your business is to get credit card processing. You can only work with cash payments for a short time before you realize there is a need for electronic payments. A few questions might come up. How do I get a merchant account and credit card processing gateway? How long does it take to set them up? How many do I need in order to work in multiple countries?

To begin earning revenue as a company, it is important to work with your software provider to connect your commissioning engine, order processing, fulfillment, and returns systems to your merchant account. I recently had a conversation with Glen Rawlins, a merchant processing and fraud monitoring consultant who works with startups and companies seeking to expand internationally. He has observed the difficulty new companies go through when they try to get and maintain merchant accounts.

Avoiding and mitigating account freezes

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Configuring your MLM software

Your Software Will Make or Break Your Network Marketing Company!

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You’re about to start your MLM business. You designed an exciting product. You have a competitive commission plan. You have recruited new distributors. You have your warehouse and manufacturing established. Now you need software to keep track of distributors and their downlines. The right software will enable you to take orders, process auto-shipments, calculate commissions, provide reports, and track customer interactions with your support team.

Some business software is not configurable; it comes preset with options which force you to use the terminology and processes designed by the software maker. Configurable software allows you to create unique processes; it allows the end user to set parameters that change the software logic or process to meet the company needs. Rather than putting in work orders for the software company to make changes for you, you set the parameters.

You’re starting a new MLM company, so you’ve probably realized that you won’t know everything about your business on day one. Configurable software allows the software to change to meet the changing needs of your business. It also allows the software to grow and scale with your company’s growth.

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Should I Be Worried If My Company Changes Their Formula?

My Company Changed Software Providers And My Pay And Rank Has Changed What Now?

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This last week or so, I have received several calls from folks wondering if they should be overly concerned because their company changed software providers and/or formulas in their flagship product.

Well although every situation is different, I cover what I have seen over the years when companies change software providers or formulas.