About Legal Shield – What Do They Sell?
Legal Shield, formerly Pre-Paid Legal Services, Inc., is a Direct Sales company inside the Network Marketing industry the company was founded in 1972 and sells what they refer to as “Pre-Paid Legal Plans” and is often referred to as a type of legal insurance. To get the details on what’s covered you’ll want to review that information personally as it may be subject to change.
The company also offers Identity Theft Shield; this service is designed to detect identity theft and includes continuous credit monitoring and even forensic assistance in restoring their credit should identity theft occur.
Changes At Pre-Paid Legal – Created Legal Shield
In the summer of 2011, Pre Paid Legal was sold to Mid Ocean partners. Mid Ocean partners not only purchased the company they took it private – meaning the company is no longer listed on the New York Stock Exchange. Previously – Pre Paid Legal heavily touted their listing on the NYSE, it will be interesting to see how they alter their marketing moving forward. Mid Ocean partners has also elected to rebrand the company and changed the name to Legal Shield. When a company changes hands no one but the new owner’s know exactly what is in store. Only time will tell if and how the rebranding of Pre Paid Legal to Legal Shield will change their marketing, compensation, product line, or if anything will change at all.
One thing is certain, as a private company they have more flexibility – they will no longer need to publish retention rates, average incomes, or have any heavy accounting or financial reporting requirements. If they focus this new time, energy, and resources to building their leadership and customer base who knows what the future has in store for Legal Shield.
Getting Started in Legal Shield
Legal Shield offers a couple of ways to get started. If you’re here and serious enough to take a closer look into the company – you’ll want to know how to get started in a way that maximizes the Legal Shield compensation plan and that consists of joining at a one-time fee of $149. This option includes sales aids and materials, field training, home office support, and online Associate services.
Understanding The Legal Shield Compensation Plan
The Legal Shield Compensation plan is based on the uni-level concept. A uni-level plan allows you to personally sponsor an unlimited amount of distributors personally and teach them to do the same or duplicate your efforts to create depth in the organization.
The compensation plan is built around upfront bonuses and team overrides as new associates and customers enter your organization. The back end residual plan – is not really focused on and considered a byproduct of building a sales organization. An important element to understand to have a firm grasp of the Legal Shield compensation plan is that they offer commission advances that are upfront and payout a minimum of a full year’s commission on a single sale. While this may sound and appear exciting – it can come with a cost. That cost is a “charge back”. Charge backs are when a customer or associate who has become a customer cancels their membership before the full year in which case a credit is owed to Legal Shield to make up the difference and is paid out of future commissions.
Having been licensed in the insurance business I am all too familiar with charge backs, and have experienced charge back’s which are never fun. However, if you’re focused and consistent in your effort it is possible to minimize the impact of any charge back and it’s possible to create significant income inside Legal Shield. I’ve pointed out the charge backs simply because its not something shared openly by the company or understood by most individuals prior to joining. This would not be a complete compensation review without covering this vital component to the Legal Shield compensation plan.
The Legal Shield compensation plan also offers leadership bonuses, team overrides, and after the advance commission period expires you can earn a solid residual income on the remaining customers.
Building A Successful Legal Shield Business
To succeed in Legal Shield you’ll need to focus on old school methods, talking to friends and family, networking mixers, and promoting the company and what they offer. Legal Shield does not allow distributors the flexibility and freedom to build a Legal Shield business directly online. You can look at this as an opportunity to focus on the traditional methods of sharing your business and services or you can learn to share your personal value and brand online in a way that doesn’t violate the terms and conditions Legal Shield has set forth.
Ultimately, to succeed in Legal Shield or any Network Marketing company requires you to sponsor and enroll new people into your business. The fact is your success will be based on your ability to market and generate qualified leads.
This is why a strong marketing plan encompassing online marketing when done properly can create extraordinary results. I highly recommend anyone who is planning on becoming a Network Marketing professional consider Attraction Marketing to help them generate qualified Network Marketing leads.
A quality Attraction Marketing System will allow you to brand yourself personally as a leader, teach and allow you to generate leads, as well as help you generate income from the individuals not interested in joining the Legal Shield opportunity. When creating a system around you – you hold the power and can filter those that want to work with you into Legal Shield or any Network Marketing opportunity you choose. This is why I highly recommend learning a few simple skills – that allow you to build a business. Doing so will put you in position to win not only inside Legal Shield, or any company you choose.