Overcoming Objections with Your Network Marketing Prospects

In today’s post I’m going to talk to you about overcoming objections with your network marketing prospects.  This is a subject that very few people in our industry talk about, although I believe it is very important to understand.  There’s a few things you should know about objections right upfront:

# 1 Most people won’t buy or join the first time you talk to them – Whether you sell houses, cars, perfume, insurance or vitamins, most people you talk to today are not in the market for what you are offering today.  There will always be some low hanging fruit (people who are in the market at this exact moment in time) but most people will not buy until the timing is right for them.  Your job is simply to work the numbers and sift and sort through people until you find the people who are in the market for what you are offering.

# 2 Most people need at least 7 to 20 follow ups before they will join or buy – This goes hand in hand with number one.  Just because someone isn’t in the market today doesn’t mean they won’t be in the future.  This is why the follow up process is so important.  Most people I recruit as customers or distributors take me at least seven to twenty follow-ups over a period of months or years, before they buy or join.  Keep track of every prospect you ever talk to and stay in touch!

# 3 Objections are natural – I’ve sold many different products and services in my lifetime. Nearly 9 out of 10 people will have some type of initial objection when you first talk with them. It’s natural and very normal.

# 4 Objections do not mean someone isn’t interested, it simply means the person needs more information and/or time before they will make a decision to buy – To elaborate on # 3, objections are actually a buying signal.  It typically means the person is interested, but needs more information and/or exposures before they are ready to buy.

# 5 It’s not your job to pressure, convince or hard sell anyone – This is where most people mess up.  Many distributors in our industry think it’s their job to pressure or convince someone to buy, when they get objections.  My rule of thumb is that I try to overcome one or two objections when I am talking to someone.  If they have more objections than that, I simply add them to my database (to follow up with at a future date) and move on to the next person.  Remember, if you have to convince someone to buy or join, you will have to convince them to stay and reorder.  Your real job is to work the numbers and sift and sort through people, until you find the people who are interested.

Why do I tell you these things?  For two reasons.

First off, most distributors are scared of rejection and objections because they don’t know what to say or they don’t want to be pushy. We don’t want to come across as amateurish, unprofessional or high pressure.  As soon as someone says “I’m not interested” or “it costs too much” most distributors tuck their tail between their legs and move on to the next person (or quit).

I think that’s a big mistake.  When someone says something costs too much it’s because they don’t understand the value the item provides.  When someone says “I’m not interested” I like to ask them, “why?”

Two of the best questions you can anyone are “WHY?” and “in addition to that?”  This will help you get to the real reason why people object.  Remember, people will typically not tell you the real reason they object.  Instead, they will tell you something they think sounds good.

For example, when someone tells me something is too expensive, I ask them “why do you think that, Mary?”  Once I ask them the question, I pause and wait until they answer.  Their answer will typically be their real reason.

Or, if Mary says the item is too expensive, I might say “in addition to that Mary, is there anything else holding you back from making a purchase today?”

These two questions work like hotcakes.  I suggest you use them whenever possible.

The second reason I tell you this is because this business is a numbers game.  If you work the numbers and talk with enough people you will find people who are interested in what you have. I truly believe you could stand on a street corner all day with a sign that says “work from home” and you could recruit people.  What you lack in skills you can make up for in numbers.

When someone starts giving you objections, the best thing to do is ASK QUESTIONS and LISTEN. Stop talking and listen to what the prospect is really saying.

Here are a few questions you can ask your prospect when you get objections:

  • In addition to that, what’s holding you back?
  • Why?
  • What do you like most about the product?
  • Based off everything we’ve talked about today, what are you most excited about?

Another great question to ask is this: “Mary, I know you aren’t interested in buying my products today, but would it be okay if I stayed in touch with you in the future, in case your situation changes?”

This question works very well.  Assuming you have been low key, polite and nice, most people will tell you it’s okay if you stay in touch with them.  Remember, the money is in the follow up.

The Bottom Line

Just remember that objections are normal.  I actually get scared when I don’t get at least one objection from my prospect.  Your job is to listen, to ask questions, and give the prospect enough information they need to make an informed decision.  And if they aren’t ready to buy today, get their contact information and stay in touch with them in the future.

What do you think?  What do you do to overcome objections in your network marketing business?  Leave a comment below to share your thoughts.  I look forward to hearing from you.

The Truth About Motivation in Network Marketing

Today, I want to talk to you about the truth about motivation in network marketing, as I see it.  I believe this short post has a very important message that you need to understand, if you want to be successful in our industry.

Let’s start out by talking about motivation.  Motivation is defined as “the general desire or willingness of someone to do something.”  If I had to put it in my own words, I would define it as “what drives you to take action.”  In other words, it’s something INSIDE of you that inspires you to do what you do.

When it comes to this business, there are two valuable lessons you need to know about motivation.  The sooner you can learn these lessons the better.

First off, no one is motivated all of the time.  I’m not and I’m sure you aren’t either.  Even if you are naturally driven to achieve great things in life, everyone has off days where they don’t feel like doing anything at all.  Everyone needs a break from time to time.

In addition, you don’t have to be motivated to do something.  For example, most people are not motivated to go to their day job every day.  Many people hate their job and/or commute, yet they still go to their job. Why?  Because they are committed to getting a weekly paycheck. They know they have to provide for their family, even if they don’t enjoy what they do.   And it’s this commitment that keeps them showing up every day.

In my opinion, COMMITMENT is what you need to succeed in network marketing, not motivation.  I think motivation is a little bit overrated.  When you are truly committed to doing something, you will find a way to make it happen.  People naturally do what they WANT to do, and in most cases, what they HAVE to do.

It’s true, you can make excuses or you can make money, but you can’t do both.  You will either be committed to your long-term success, or you will find excuses for your inaction.

The second thing you need to know about motivation when it comes to network marketing is that it’s not your job to motivate other people.  It’s not your job to prime people up and try to motivate them to get off their ass and do something.  I learned a long time ago that motivation comes from within and no one can motivate someone else PERMANENTLY.

The old saying is true, “you can lead a horse to water but you can’t make them drink.”  People are naturally going to do what they want to do.

Yes, you can talk to your new distributor and get him or her excited for a couple days.  But the only way they will stay that way is if they have the inner desire and drive.

Let me put it in perspective for a moment.  Think about the power of company conventions. Ten to twenty thousand people attend an annual company event.  It’s electrifying.  The energy is powerful.  People are pumped up.  You can feel the energy.  Yet, within a few days of returning home, most of these same people have reverted back to their same old ways and are not being productive with their business.

Why is that?  Because the people aren’t motivated and committed to their business.  Once again, motivation must come from within!

Your real job as a network marketer is to find people who are self-motivated, not to motivate others.  You want people who have a big burning desire to transform their lives and achieve success.  A few self-motivated folks can help you build a dynasty in your business. Personally, I would rather work with just one self motivated person that try to motivate a team of 10 non-committed people.  How about you?

Final Thoughts

In summary, this is the truth about motivation in network marketing as I see it.  The bottom line is that you don’t need to be motivated to succeed.  What you need to be is committed.  You need to make a long-term commitment to your business and do what needs to be done on a daily basis, even when you feel unmotivated.  Do that and you will succeed.  Don’t do it and you will fail.

What are your thoughts about motivation?  Leave a comment below to let me know what you think.  I look forward to hearing from you.

 

Three Lessons from MLM Millionaire Nathan Ricks

Today, I want to share THREE valuable lessons that I learned from a MLM Millionaire.  I am not part of the guy’s team, part of the same company and have never met him in real life, but the dude is a legend.  His name is Nathan Ricks and he has been a top producer with his company since 1989!

He created a great YouTube video titled “Driving Lines.”  It’s a two hour recording of one of his training sessions at a company training event.  In his presentation he talks about building tap root legs and building depth in your team.  I’ve watched it several times now and it absolutely fascinates me.

He shares so much wisdom in the video.  I don’t agree with every single thing he talks about, but who am I to argue.  He’s achieved a lot more success than I have.

I took almost eight pages of notes from what I learned in the video, but there were three things he said that really struck home with me.  These are three things he decided to do when he first got started in the business.  They are (1) think big, (2) avoid negative people, and (3) never quit.

I want to talk more about each lesson in the rest of this blog post.  I’m going to share my own thoughts on each lesson and talk about my interpretation of what he said.  Enjoy.

# 1 Think Big

Let’s face it, most people think very small.  Most people really underestimate themselves and sell themselves short.  Most people overestimate what they can do in six to twelve months, but underestimate what they can do in three to five years.

This industry offers tremendous possibilities.  One of the biggest reasons I believe most people don’t achieve massive success in our industry is because is they think too small.  They don’t believe they can do it.  They don’t believe they are worthy of massive success.  They let their past failures dictate their goals and why.

To make it big in anything you have to think big.  It’s better to attempt something great and fail than attempt to do nothing and succeed.  It’s better to aim for the moon, but miss and hit the stars that it is to aim for the tree tops and hit your goal.

Set big goals that are challenging and stretch you out of your comfort zone.  Come up with a game plan to get there. And most importantly roll up your sleeves and get to work.

# 2 Avoid Negative People

Negative people are everywhere.  I call them dream stealers.  These are people that have given up on their own hopes and dreams and want to bring you down to their level.  They are the people who tell you that your ideas are foolish and crazy.  Usually, they are your friends and family members.

People are funny.  Whenever you take a different career path, or do something that makes them uncomfortable they tell you that you are crazy and foolish.  They tell you that what you are trying to do can’t be done, that you will never make it.  And yet when you do succeed, these same people will want to celebrate in your success.  Or worse, they will tell you that you were lucky.

I truly believe that we are like the five people we spend the most time with.  I can’t speak for you but I have no desire to hang around negative people.  I like to spend time with people who encourage me and uplift me, not people who bring me down.  I believe in the power of association.

Do yourself a favor and surround yourself with people who have accomplished what you are trying to accomplish.  Hang around people who believe in you, support you and encourage you. Avoid negative people at all costs.

Just be careful who you listen to.  You might end up just like them!

# 3 Never Quit

Some people will tell you that the only way to fail in our industry is to quit.  I disagree.  Quitting is a guaranteed way to fail.  So is “not doing the work.”  Just sticking with something, but never doing the activities you are supposed to be doing is a complete waste of your time.

No matter what type of business you start, there will be a learning process.  Most businesses take a year just to figure things out and learn the ropes.  Most businesses take a couple years just to get profitable.  Your odds of building a successful business of any kind in just one or two years is pretty slim.  Good things take time.

At a bare bones minimum, you should make a 24 month commitment to your network marketing business.  What does this mean?  It means that you work your business at least one hour a day, six days a week for 24 months before you question your decision or explore other options.

If you dabble with something or just try it out for a few months, you shouldn’t even begin!   You won’t become successful by luck.  You can’t quit something you haven’t even started.  Give yourself a fair chance to succeed.  Three to 12 months is not a fair chance.

Remember, good things take time.  Take the long term view.  Do something every day to build your business.  Be consistent.  And never quit.  It’s true, quitters never win and winners never quit!

Final Thoughts

There you have it folks.  These are three valuable lessons that I learned from the MLM Millionaire, Nathan Ricks.  If you’ve never studied this guy before you should.  He is a wealth of knowledge and the ultimate success story.  He currently has a team of approximately 500,000 people.

What do you think about these three lessons?  Leave a comment below to let me know what you think.  I look forward to hearing from you.

The Dark Valley of Your Home Business or Network Marketing Business

Today, I want to take a few minutes and talk about the dark valley of your home business, traditional business or network marketing business.  This is a concept that few people ever talk about, but I think it’s very important to understand.

It’s not something that will apply to every entrepreneur, but it will apply to most entrepreneurs, regardless of their industry.

Let me start out by telling you that it takes time to build a successful business of any kind. Most traditional business owners don’t expect to make even ONE DOLLAR OF PROFIT for AT LEAST their first three to five years in business!  They realize that it takes time to get established, build up a reputation, find customers and develop market share.

In the real world, you will seldom, if ever, hear an entrepreneur complain about not being profitable during their first couple years in business.  They realize it’s part of paying their dues and getting their business built.  they expect it and embrace it.

Network marketing is the complete opposite.  Many people quit and complain after just a month or two in this industry, if they’re not making the big bucks.  This always makes me laugh, and sometimes even frustrates me, because most people in our industry really have no clue about how to think like an entrepreneur.

Most people who complain or quit our industry haven’t even invested 10 hours per week to build their business for any period of time.  They haven’t taken the time to develop their skill-set and mind-set.  Most of the people who quit or complain haven’t even contacted 100 people or given themselves a fair chance to succeed.

Most people in our industry have an employee mindset or lottery mentality, both which will ultimately lead to failure.

In any business, there will be a dark road.  For most businesses, this stage begins at the end of year one and can last another two to three years, assuming the business survives.  Some businesses never even make it to this point, and most businesses that close down normally do so during this “dark period.”

I would define the dark period as the time where you don’t see much return on your time or money investment, even though you’ve been working hard for a couple of years.  Perhaps, you’ve been working your butt off for a couple years, but you just can’t seem to figure things out or make a profit.

It’s during this time that most people throw in the towel and say ENOUGH.  Some people just grind it out because of their pride or work ethic.  A select few figure things out and get over the hump, but most people do not make it.

This same stage happens to a lot of network marketers.  Many people who make it to this stage have been diligently working their network marketing business for a couple years, yet they are still only making $200 to $1,000 per month, if that.  As a result, they think that they are wasting their time and would be better off just getting a job.

Because they’ve never owned a business before, or no one has ever given them realistic expectations, they end up thinking our industry is a scam, or just isn’t worth it.

Once again, all businesses, in every industry go through this dark period.  It’s a valley.  Let me put things in perspective.

  • It took me about three years of trial and error to build up a profitable eBay business
  • It took me about four years to build up a successful blog
  • It took my dad about 10 years to build up his successful antique business

Just about EVERY business owner I know who became successful went through a similar experience.  No one achieve quick success. 

The bottom line is that you need the vision and mental toughness to make it through this dark period.  In any business, you will work very hard in the beginning and typically see little financial results for your efforts.  But if you stick with it, develop your skills, improve your mind-set and keep plugging along, you will figure things out and get good results (in most cases anyway).

The real beauty of network marketing is that you are doing this part-time, while you have your day job.  You have little money invested and the risk is minimum.  I think it is the dream business.

Just be prepared for the dark valley so when you reach it, you know what to expect.  Knowing is half the battle.

What do you think about this concept?  Leave a comment below to share your thoughts.  I look forward to hearing from you.