Your Vision, Your BIG Picture!

by: Dioni Morales, Director of Stylists Services

Yesterday I returned from  a few days of listening to top leaders/earners in this industry from all over the world, at a convention in Las Vegas. I just love these meetings, and I always take in as much information as I can.  I was writing so quickly I had to rewrite some notes while it was still fresh in my mind, and so I could read it! I will be sharing most of it in my next few posts.

One of my favorite topics: Vision. We often confuse "vision" with "goals," and although they are similar, the two are not the same. Both vision and goals provide a picture of an end result. Both are powerful.  The big difference is that goals end once they are reached.  Vision goes on forever.

So what is Vision exactly?

* It is the strategic intent for your business.
* It is the long term picture.
* It is the force behind everything you do.
* It is the results of your daily efforts.
* It is the inspiration for what you do.
* It informs all your decisions.
* It compels you to work through challenges.
* It is what gets you out of bed in the morning and makes you work with passion.
* It is like a string that pulls you forward.

Oprah Winfrey said: "Create the highest, grandest possible vision for your life, because you become what you believe."

How do you create a clear vision?

• You have to remove your limiting beliefs and your blocks, and that will open up your ability to set goals. (I will give you more details about this in a future post, but for now know that this is part of what is holding you back, and by identifying them they will have no power.)

• Your vision continues to act as a beacon, guiding you in setting new goals once current ones have been achieved.

• Goals are the signposts that let you know that you are moving in the right direction towards your vision.

What does a clear vision bring to your business and to your future?:

* Allows you to motivate and inspire others
* Gives direction and purpose
* Inspires enthusiasm and encourages commitment
* Is the key to building huge momentum in your business.

Your vision is the BIG picture, YOUR big picture! It's like when you get on a plane.  When the plane reaches the highest altitudes, all the little details below don't really matter anymore.  It's all left behind and all you see is a great view!

Understanding the Party Plan Business Model

We asked Dan Jensen and Andi Jensen Sherwood, premier compensation plan designers who designed Vessel's plan, to share a few thoughts about the various business models within the direct sales spectrum and why Vessel's plan is designed the way it is.  If you have worked with party plan companies before, this may be familiar information.  However, if you're new to direct sales or have only worked on the "internal consumption" end of the spectrum, this will help you understand the basic differences of the various models.

Direct selling companies come in many different flavors. Some invite recruits to purchase products for their own personal use and then share with family and friends ("Internal Consumption").  Others teach recruits to find customers to whom they sell their products for a retail profit ("Retail Bias" or "Retail Customer").  Internal Consumption plans tends to sell in a one-on-one manner, while the Retail Customer plans tend to sell via the party plan model.  Many companies have a mixture of these approaches.  Vessel is basically a party plan business model, and our compensation plan is best described as a Uni-Level Hybrid. 

It is important to understand that a company's approach to field compensation should align with their business model.  A traditional multi-level marketing company, or MLM (like Xango, Herbalife, NuSkin, etc.) compensation plan, for example, would not work with the Vessel business model.  They are incompatible, and such a combination would eventually lead to stagnant sales if not outright business failure. 

The following table illustrates some of the characteristics of the Internal Consumption and the Retail Customer models:

 

INTERNAL CONSUMPTION (MLM Model)	RETAIL CUSTOMER (Party Plan Model)
Inexpensive for new recruits	Higher sign-up cost protects retail profits; fewer customers sign up only to get a discount.
Stronger team overrides paid early	Strong incentives for higher sales volumes
High attrition is assumed	Low attrition is achievable
Earnings per hour depends on overrides from recruiting	Earnings per hour are felt immediatel through retail selling
Requires more recruits to achieve sales targets	Requires fewer but more productive recruits to achieve sales targets
Requires less training	Requires more training
People love the product naturally	People love the product naturally, but it might take a compelling demonstration
Eventually collapses if product demand is primarily opportunity driven	Product demand is less opportunity driven, and business grows organically
Business is focused on recruiting	Business is focused on selling, and then recruiting

 

In the Internal Consumption model, everybody buys at the wholesale price.  Rarely does a distributor sell the product at retail because the prospective customer is offered a compelling reason to "sign up" by purchasing an inexpensive "kit" so they can enjoy the distributor discount on their purchases.  So these companies tend to offer products that are consumed on a daily basis.  Even if the kit is expensive, it would often be loaded with high product value so that it compels them to join to get the product at deep discount through the kit.  When the customer signs up as a distributor in order to get the wholesale price, there is no retail profit margin to the seller/recruiter.  Instead, the company must have margins adequate to pay the recruiter a team-building commission sufficient enough to be worth their time.   We see, therefore, that the Internal Consumption model requires a higher payout in the compensation plan to compensate for the lack of retail profits.  To be competitive, companies typically must pay out at least 38% of the wholesale revenue, otherwise the company will have high attrition rates as distributors look for a better opportunity. 

In the Retail Customer business model with a stronger emphasis on selling to customers who pay the retail price, there is a retail profit margin to the seller.  Note that Vessel's standard Retail Commission of 30% would be equivalent to a 43% commission on the wholesale price of a $100 retail order ($100 Retail = $70 Stylist price; $30 of $70 = 42.86%).  In other words, an Internal Consumption business model would have to offer a 43% payout to be competitive with Vessel's model!  And that's not even taking the Vessel Team-Building Commissions into account. 

Because we do not want everyone to sign up simply to buy products at the wholesale price, our kit pricing becomes a "barrier to entry" - in other words, we want only people who want to build a Vessel business to sign up.  The kit price, and specifically the ratio of included product to kit price, is designed to discourage purchase by those who simply want the product.  We want people who only want to buy the product to buy at the retail price - to become our customers. 

There are many positive points in both business models, and as noted before, many companies employ a mix of characteristics.  The critical point is to understand the purpose and structure of each, and to understand the logic behind Vessel's unique and generous compensation plan. 

To Your Success!

Susan

 

 

Plan Ahead NOW to Attend the Vessel Scents of Style Convention!

by Tracy Ralph, National Sales Director

Do you love meeting up with friends, making new friends, and having lots of laughs together?  What about the excitement when you attend workshops and learn how to increase your sales, or find a cool idea about how to keep your calendar full of bookings? Then your passion level rises when you hear how a Stylist just like you recruited 15 people in one month, and you think, “Wow, if they can do it, so can I.”  At this point you are ready to go home and try all the tips she gave you from just this one testimonial.
 

Then there’s the motivational stuff! You hear the words shared by a speaker, and you are pumped. You get that wonderful feeling inside, knowing you definitely made the right decision to join your company.
 

How many of you are thinking:

“I’d love to go to Convention but I don’t think I can afford it,” or

“I’d love to go to Convention but I’d have to take time off work,” or

“I’d love to go to Convention but how can I leave the family?”
 

Convention is about YOU and it is FOR YOU!  It’s about your future and your development in building a strong and profitable direct sales business.
 

Convention is designed to help you grow personally and professionally and learn from the best in your company.
 

There is nothing more rewarding than to attend convention with your team! Those late night get-togethers and grabbing quick cups of coffee while racing to your first session. All the fun and laughter with others who love their business just like you.
 

That’s Convention.  It’s where you get the big picture.  It’s where you will hear that ONE amazing tip you’ve been searching for to move your business forward.  It is the perfect place to build team spirit and bond with other like-minded people.
 

And the best thing is that with Vessel, you can earn your Convention FREE!  All of it, or part of it, that is up to you!  With our Convention Contest, not only can you earn Convention, but make money while doing it! Whether you earn your Convention, or pay for it, it is a tremendous growth experience in your Vessel business.
 

Don’t miss the 2015 Convention!  All it takes is planning:
 

1. Calculate how many parties it would take to pay for this event - how much in sales per month and/or how many recruits to earn the Convention credit
2. Pay attention to the early bird registration price!  The $99 fee ends April 1st
3. Look for inexpensive air fares
4. Find room mates NOW to split the cost of the hotel
5. Encourage your team members to attend with you

 

 

Don’t let the perceived costs of Convention stop you or your team members from attending because convention is an investment in YOU!  Invest in yourself.  Make a plan and break it down into achievable steps. The rewards will be enormous!
 

Are you planning to attend the Vessel Convention this year?
 

What are you willing to do to attend?

How many team members will you be bringing with you?
 

Let's make this year the year that will change your business at convention!

Volume = Earnings.... It's That Simple!

by: Dioni Morales, Director of Stylists Services

We don't have to be mathematicians to know that one million dollars times zero ($1,000,000 x 0) equals ZERO! So it doesn't matter if we are offered $1 million to do something - if we don't do that something, we are left with ZERO.

It is also the same when referring to a compensation plan.  At Vessel we have an incredibly generous compensation plan, one that rewards the Stylists for the way that they "work" their business.  But the fact of the matter is that there's still "work" to be done, that "work" translates into volume, and that volume translates into earnings - or better yet, money!

Increasing the volume you and your team are moving is what will get you rank advancements, and even better,  bigger checks. Although we spend a lot of time talking about and training in prospecting and enrolling, the truth is that your income is not 100% correlated to how many people you have. In fact, to a certain extent it has nothing to do with it!  If you have ten thousand people in your downline who are doing zero volume, you are making zero money. 

With Vessel there are three ways you can make volume:

1. Parties/Open Houses: It's the best way to introduce both Vessel's product and the Vessel opportunity. People love seeing the product in person and it has proven to be the best way to sell (see last week's post about the Power of the Party). You make 30% right away in retail commissions and you increase your PSV (Personal Sales Volume).  This will help you in rank advancements, which means bigger checks for you. 

2. Introductory Volume: With the NEW and unique Vessel Product Packages Program, we offer the new Stylists full volume ($100, $300 or $800) when they buy any of our three Product Packages offered, and these Packages are at a substantial discount. Also, with the new "Qualified Stylist" status, we are giving new Stylists an incentive to be Active ($300) in their first 30 days (with a special incentive to become Active in their first 15 days).  This means volume for them personally and team volume for you.

3. Customers: There is no such thing as a business that does NOT have customers, it's just not possible. Experts in the industry recommend that we build a base of Customers. At Vessel we have created the Preferred Customer Program that offers a 10% discount to those people who are likely to want to purchase our product on a regular basis.  These purchases not only give you a 20% retail commission (paid weekly), but more importantly it helps you increase your PSV and it builds that base of independent customers. So how do you get those customers? Promote and Enroll.

• Promote: when you endorse or recommend a product, you are not being pushy.  You are simply talking about it. There's a big difference between promoting and selling, but the end result is the same -  a sale and volume for your Vessel business.

• Enroll: Don't go out recruiting like you are looking for soldiers to join the battle.  Enroll instead. This is both true when "enrolling" for the business or for the Preferred Customer Program. People enroll in things because they want to be part of something. So be wise when inviting  others to take part of this great opportunity.

Stylists, let's work on increasing your volume and helping your team do the same.  That is what it will take for you and your team to promote in rank.  Rank advancement means higher percentages off of the same volume.

We have heard many times that one of the greatest things about direct sales is that we decide how big we want our income to be.  At the end of the day, that income is determined by nothing other than the volume that we and our team our moving.... it's that simple!

The Power of the Party

 

At Vessel, we talk often about the Power of the Party.  We have commented many times that, while Facebook and online parties have their place, Stylists really should concentrate on booking live parties as much as possible.  We offer incentives that are designed to reward parties.  We are, in fact, a home party business model.

Why are we so hung up about parties?

First of all, due to the very nature of our product, Vessel is an experience that is best portrayed face-to-face.  Of course fragrance is pretty hard to convey to a customer unless the customer can actually smell it.  The actual feel, weight, size and quality of our jewelry is best experienced in person.  And finally, the fun of putting together various looks with friends is a direct sales made-in-heaven activity for any group.   These are the reasons that we chose this business model for Vessel.  It truly is a product that is best highlighted through live interaction with customers. 
 

But, for our Stylists, there is an even more compelling reason to focus on live parties.
 

Has the following scenario happened to any of you?  You found Vessel, and boy does this unique product -  as well as the opportunity to be in on the ground floor - excite you!  You are ready to GO FOR IT!  You made your list of contacts and you lined up parties.  The parties were successful and fun.  You didn't even have to talk all that much, the products just seemed to sell themselves. But ... as you gradually worked your way through your contacts (many of whom know each other and know the same groups of people) ... you notice that you are running out of people to host Vessel parties.  Short of finding people on the street (which does happen, so we're not knocking it!) - now what do you do? 
 

If this describes you in any way, your problem is that you didn't take full advantage of your current parties to generate future parties and future Stylists to your downline.  It won't necessarily just happen on its own.  You need to have a PLAN.
 

Fortunately, Vessel offers a very precise plan of action designed to help you optimize every Vessel party you do.  We call this plan of action the Power of the Party.  It's basically a script on "what to say when" in order to obtain future bookings and attract new people to your team.  If you follow this basic approach, you will keep replenishing your business and build a successful downline. 
 

We are happy to announce that a video of an example of a Vessel Home Party is now available on the Vessel website, as are the accompanying scripts. 
 

Some people are more comfortable actually following a script verbatim.  Some are not.  What is important is not that you do it exactly like Tracy does it, but that you make sure you hit all the important points and opportunities to convert customers into hosts, and into team members.  You can and should insert your own personality into the party presentation ... just be sure to cover all the points in as natural a way as possible. 
 

It may not feel natural at first.  You may be like Tracy was when she first started down this road many years ago.  She has shared many times that when she first started to really use the Power of the Party scripts, she was sometimes so nervous she threw up beforehand.  But, like almost anything in life, the more you do it the easier and more natural it becomes. 
 

The Stylists who attended last year's First Anniversary event will confirm that the party presentation was fun - even mesmerizing.  I think the common remark was that they kind of forgot that they were at a Stylist training session.  When we video-taped the Vessel Home Party that is now on the website, the "party guests" were basically friends who agreed to be taped to help us out.  By the end of the evening, they all purchased product (even though we had assured them that we didn't expect that of them) and wanted to book a party with Tracy. 
 

Done right, the home party is POWERFUL. 
 

Please take a look at the Vessel Home Party on the website, which is on the Stylist tab, along with the Hostess Coaching video.  It really all goes together, we just taped them separately.  See if you don't feel drawn in by the way Tracy does the party.  Do you see how this could help you generate an on-going business?
 

But the Power does not stop with you!  Every time you sign up a new team member and help them to learn, understand and correctly use the home party system, you are building your legacy Vessel business.  Do you want to be a member of the Founders Club?  Do you want to drive a new car on Vessel's dime?  Do you want to travel the world with Vessel? 
 

It all starts with the Power of the Party.  Use that power to exponentially grow your business!

To Your Success!

Susan

Happy Valentine's Day

There are many ways to say "I love you" on Valentine's Day. Along with candy and flowers, jewelry is one of the most popular Valentine gifts. But chocolate is quickly eaten and roses soon wilt, where a beautiful piece of Vessel scented jewelry is an enduring gift of heartfelt affection.

In ancient times, the heart was believed to be the center of all human emotions. Since the heart is in the center of the body, and love is such a powerful emotion, the heart became the symbol of love. In modern times, the heart is one of the most common symbols of Valentine's Day.

Here are some lovely Vessel looks, highlighting our beautiful Heart Lockets, ScentSpheres and Charms.

Large Heart Locket and Elodie Chain
in Antique Gold, with Tangerine Flower ScentSpheres

Large Heart Locket and Laura Chain
in Rhodium Plating, with Heart & Key Charm,
Turquoise Charm, and Aqua ScentSpheres

Small Heart Locket and Alexa Chain
in Gun Metal, with White w/Black Flowers ScentSpheres

Small Heart Locket and Alexa Chain 
in Rhodium Plating, with Heart Charm
and Red Heart ScentSpheres

Pet Paw Locket (with heart design) in Rhodium Plating
with Amethyst Charm and Mouse Charm

Black Flower with Small Heart Locket in Rhodium Plating
and Turquoise Charm with Aqua ScentSpheres

Brown Flower with Small Heart Locket in Rhodium Plating
with Ivory ScentSpheres

Heart Charm

Vessel is showing our love and appreciation to our Stylists and Customers. Through Valentine's Day, when your order is $50 or more, we're giving you a FREE Heart Charm.

Choose a Vessel piece for someone special in your life, including yourself! We hope you all have a very Happy Valentine's Day!

Destination Ruby: Make the Perfect Pitch

by: Dioni Morales, Director of Stylists Services


I believe all of you have one goal in common: Ruby! Of course you want to be part of the Founder's Club. To reach that goal, you need to sign up new Stylists who also want to grow their business. For you to get those Stylists, you need to give them the "Perfect Pitch."

A great leader from Australia, who I had the opportunity to hear a few months back, talked about the "Pitch" -  those few choice words that must be practiced and perfected, because most times you will only have a few minutes to grab someone's attention.  It might sound like a cliché, but it will always be true that the first impression is always the most important.

Here are a few tips to create your own personal Perfect Pitch.

The Do's:

• Keep your goals in mind.
• Quality will always out-perform quantity.
• Have the right mind-set

The Don'ts:

• Don't pitch within your comfort zone - you are not looking for the many, you're looking for the qualified few.
• Never edit your pitch: stick to the full story.

The How's: 

• There are four parts to the pitch. Your pitch should include: 

1. Products
2. Company
3. Opportunity
4. You

• Tips to work on when practicing to perfect your pitch:
• Your enthusiasm
• Your belief
• Find out their hot point
• People buy YOU
• Seek referrals

Remember, cover all the bases but focus on what interests THEM the most. Your pitch will really influence the quality of people who join your team.  When you pitch only the product, you will get customers.  But when you pitch the opportunity as well, you will get entrepreneurs.  And that, my dear friends, is how you get to Ruby!