June 19, 2019 at 4:32 pm #60735
My Daily Choice has a hybrid compensation plan that combines 2 powerful plans into one!
- Unilevel Compensation Plan
- Binary Compensation Plan
Here is a detailed description of how this works and how to benefit from it.
There are 7 ways to get paid with the My Daily Choice comp plan, #1-6 of which are available in the Unilevel comp plan, and #7 that is exclusive to the Binary comp plan, which you must be qualified for.
- Jump Start Bonuses
- Rank Incentives & Bonuses
- VIP Auto Club
- Elite Expense Accounts
- Global Bonus Pool
- Leadership Check Matching
- Binary Commissions
When you personally enroll a new paid affiliate directly using your affiliate links, they are your “frontline” and these are on the Unilevel side of the comp plan.
You can have “Unlimited” frontline, in fact it’s encouraged to have as many as you possibly can.
So for this example, let’s say that you enroll 10 paid affiliates directly at the Executive level, in the United States, and let’s assume you are an active Executive as well.
JUMP START BONUSES:
You would earn a $200 jump start bonus on each of these referrals. 10 x $200 = $2,000. You’re off to a great start!
Plus you can get override jump start bonuses when your team enrolls new paid affiliates, so these weekly bonuses can add up fast!
Then, every time you enroll someone personally in the Unilevel, it automatically places them in your left leg or right leg in the binary comp plan, based on how you have your rotator set up.
When you are new it’s best to start with Alternate legs, then as you grow each of of your 2 legs you can adjust it so that you are helping your weaker leg, whether that’s the right leg or the left leg, based on which one has less volume so that you can balance them.
You can adjust your Leg Rotator Settings Here.
GLOBAL BONUS POOL:
When you enroll at least 4 people as paid affiliates in a month, you get 1 share in the bonus pool, which averages to about $15-$20 but varies monthly. If you enroll 8 paid affiliates personally that would be 2 shares, and so on.
RANK ADVANCEMENT BONUSES:
Every time you reach a new rank (starting at 5K) and hold it for 3 months in a row, you qualify for Rank Incentives which are a one-time cash bonus.
VIP AUTO CLUB:
Another cool benefit of holding your ranks (starting at 5K and above) is that you get an additional monthly auto club bonus, that is paid in cash and you can spend it however you want, regardless of whether you have a car payment or not. It’s paid as a monthly cash bonus.
The bonuses start at $150/mo and go up to $1,000/mo.
ELITE EXPENSE ACCOUNTS:
Once you reach Rank 100K the auto bonus goes away and is replaced with a new bonus called an Expense account bonus. But this is just a cash bonus as well that is paid monthly that you can use however you want. There is no special expense account, that’s just the name for this amazing bonus.
These bonuses start at $2,000/mo and go up to $20,000/mo!
***NOTE – Technically there is a new Master Affiliate bonus that pays $100,000 Per Month! Master Affiliate is a little more complex to explain, but essentially one way to hit it is to have 5 of your personally enrolled members hit Super Affiliate rank. There are more ways to hit it, but there’s no reason to get caught up on these details until you are at least Rank 100K first, so just keep it as motivation for now!
LEADERSHIP CHECK MATCHING:
Once you have some leaders on your team below you that are earning good commissions, you can get a check match of up to 30% of their checks! We will save the detailed explanation of this for a future video, but just know that this can be HUGE income once you are qualified and have leaders in place!
These commissions are ONLY available in the binary part of the compensation plan.
In order to receive these you must be binary qualified (we will cover these in another topic). And these only pay out on recurring orders starting with purchases that your team makes the 2nd month on in the business.
Here is a picture of what you need in order to be binary qualified:
IMPORTANT – You only get paid binary commissions on your “weaker” leg of the 2 binary legs, which is the leg with the least volume. And these commissions are paid on the ENTIRE volume of that weaker leg, which means that there are massive potential here!
The majority of 2nd month volume on will be from “autoship” orders, and occassionally people will make random one-time purchases that count here as well.
So, for example if your left leg has 100,000 in business volume (not including purchases in members first 30 days), and your right leg has 50,000 in business volume, then you would be paid a binary commission override on the right leg since it’s the “weaker” of the 2 legs.
This is also referred to as your “Pay Leg” in the binary compensation plan.
As long as you are at the Executive Rank or higher, and are binary qualified, then you should be earning at least 15% override on those autoship orders.
So, in the example above your monthly binary check would be 50,000BV x 15% = $7,500/mo!
And once you reach higher ranks that override can be as much as 20% on your entire weaker leg!
Here is a chart that shows the ranks and the percentage that it pays, and what the MAX is you can earn at each level.
Now, if you like to make projections, then have some fun with this information and visualize yourself crushing it with the business!
In our training section you will find more videos that will help explain the compensation plan so we can dive into more detail there.
But until then, why not imagine yourself at the SUPER AFFILIATE RANK with 2 massive legs, where your weaker leg (pay leg) has 5,000,000BV in it per month and you’re earning 20% on that which is $1,000,000/mo in binary commission overrides, maxing out the compensation plan!!!
Again, that’s on the high end. And it’s incredibly hard to achieve, so don’t take this as a sure thing, but if you’re a dreamer, why not DREAM BIG!
Here are some important links for more information on the compensation plan.
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