Welcome to DAY 3 of 29 Days of the Young Living Business Series. Each day in February, I'll post a business tip to help you get started sharing these amazing products and growing your business.
DAY 3: UNDERSTANDING TERMS & DEFINITIONS.
Today we're going to go over the terms and definitions used in this business and in the compensation plan. You'll hear these words a lot as we talk about how to sign someone up, how to earn the most in commission, etc. I will keep the definitions basic but informative. If you have questions, please let me know in the comments!
ENROLLER: This is the person who “enrolls” someone. The enroller is the one who receives the KIT BONUS and the FAST START BONUS. (The $50) Whenever you share Young Living with someone and they want to purchase a kit and become a wholesale member, you want them to put YOUR MEMBER NUMBER as the ENROLLER ID.
SPONSOR: This is the person you put a new member under to build their team. Why would you want to place someone under another person? In order to receive the most in compensation, you want to help the people under you build their teams. If YOU are the sponsor of a new member, then the person will be on your level one (directly under you). The sponsor DOES NOT earn the bonuses (the enroller does). If you want the new member on your LEVEL ONE (or front line), then put YOUR MEMBER NUMBER as the SPONSOR ID. You are then the ENROLLER and SPONSOR. If you want to put the new member under one of your teammates, then THEIR MEMBER NUMBER goes in as the SPONSOR ID.
WHOLESALE MEMBER: This is a person who enrolled in Young Living with a STARTER KIT. Someone CANNOT purchase a starter kit, if they don't become a wholesale member. This membership requires a new member to give their SOCIAL SECURITY NUMBER or TAX ID NUMBER. A wholesale member can purchase products at wholesale price (24% less than retail). A wholesale member also qualifies to work Young Living as a business if they choose (this is optional).
CUSTOMER: This is a person who chooses to enroll as a retail customer at the time of enrollment. This person pays 24% higher prices than a wholesale customer. They DO NOT have to purchase a STARTER KIT. A customer does not have the option to work Young Living as a business. A retail customer DOES have the option to convert to a wholesale membership later if they choose.
LEG: A Leg is a member who you sponsored and the members that they sponsored. An example: I enrolled and sponsored my mom, Donna. I enrolled my friend Sarah, and put my mom’s member ID as the sponsor ID. Sarah enrolled/sponsored her mom, Sandy. My “LEG” now consists of My Mom, Donna, Sarah, and Sandy. A LEG is anyone on your LEVEL ONE (Front Line) and the members that they have sponsored.
PV: PV means PERSONAL VOLUME. Your PV consists of all the orders you place in a single month combined (Essential Rewards Orders and Standard Orders). PV also can be used in terms of purchasing products. For example, a 15 ml bottle of Lavender has 30PV (personal volume).
OGV: OGV stands for ORGANIZATIONAL GROUP VOLUME. Your OGV is everyone in your team’s PV combined. Your OGV is what everyone in your downline has purchased in a single month.
PGV: PGV is your PERSONAL GROUP VOLUME. Your PGV consists of YOUR PV (personal volume) PLUS the OGV of the LEGS under you that are below a SILVER rank (10,000+OGV). For example: I have 300PV, my mom’s Leg has 2000 OGV, my sister’s leg has 4000 OGV, and my friend has 1000 OGV. My PGV would be 7300. For the sake of learning right now, your PGV will always match your OGV until you become a SILVER rank in Young Living (we’ll talk more about that later).
If you're ready to learn more, here are some additional terms & definitions: http://bit.ly/1R2JOtG. These will not be applicable until we get into the compensation plan in a few days.
Any questions? Comment below!
25 year old entrepreneur, veggie, essential oil enthusiast, wellness stylist, graphic designer/marketing pro who is enthralled by adventure and opportunity.