Chuck’s MLM Weekly Wisdom # 23 – February 11, 2015
Dear Network Marketer:
I hope you are happy, healthy, and well. Enjoy this week’s training.
# 1 Overcoming Objections in Your MLM Business – When it comes to overcoming objections, there are two major points of view. Some people will tell you to try and overcome every objection your prospect has and other people will tell you that if the person objects to anything at all, just move on to the next person. Personally, I think there is a happy balance between the two.
I look at an objection as the prospect telling you that they need more information before they can make a decision. That doesn’t mean that you blabber away until the cows come home and try to convince the person to join. Instead, it simply means that they need more exposures, such as a three way call, webinar, meeting, product sample, video, etc.
You have to understand that objections are a normal part of the buying process.
I actually fear signing up someone who has no objections and is super excited, because I know that excitement will wane within a couple weeks and they will probably quit. I would rather sponsor someone with a lot of questions and objections, because I know they have put some serious thought into their decision.
It’s not your job to CONVINCE your prospect to join your team. If you have to convince them to join, you’ll have to convince them to stay in and do anything at all. However, it is your job to walk your prospect through your sales process and keep giving them information (over a few week time frame) until they make a decision.
Most of the people I personally sponsor take anywhere from 30 to 90 days from the time I first talk to them until they sign up in the business. Very few people are just going to sign up on the spot.
You need to learn how to overcome objections without coming across as pushy, desperate, or high pressure.
# 2 Alternatives to MLM – Some of you might not expect me to write this, but the truth is, MLM Is not for everyone. You might decide at some point in your business that you don’t have the desire or skill-set to accomplish your goals, and succeed in network marketing.
This happens in MANY different types of businesses and industries. The truth is, building a successful MLM business (or any other type of business) is tough. It requires a lot of work, patience, time and money. It’s definitely not for everyone.
If you’ve honestly given MLM your best shot and shown at least 10-20 presentations per month for two years straight, and you still can’t get your business to work, maybe you should try something different. Maybe you should start a different type of business or just focus on your job/career.
You should never feel like a failure because you couldn’t get your MLM to work. Most people I know who have been successful in business failed SEVERAL times BEFORE they ever became successful! Success is never a straight line!
My only advice to you before you decide to leave MLM for good is to make sure that you gave yourself a fair chance to succeed. If you haven’t shown at least 10-20 personal presentations a month for 24 months straight, you haven’t really given yourself a fair chance to succeed (just my thoughts). You can’t “dabble” in any business and succeed. You have to go all in, do the work, be patient and persist.
# 3 A Great Way to Build Your Business – Contrary to what you might have been told in the past, it is one HECK of a lot easier to make $500 per month with retail commissions (customers) than it is in overrides from a downline. I encourage all of you to find at least 10-20 personal customers BEFORE you try to sponsor people into your business opportunity. Doing so lets you be profitable right from the first month in your business. 20 loyal customers who order $50 to $100 worth of products (or more) each month will give you a very nice profit.
I’m not telling you to buy a large inventory, keep a bunch of products in the trunk of your car, or do anything foolish. Instead, I’m just encouraging you to be customer focused before you are distributor focused. You can’t duplicate something you haven’t even built yourself. I would rather teach someone to get 20 customers and then go sponsor 20 people and teach all of them to get 20 customers, than I would to build a team of just 400 distributors.
Think about how much money you could make, or how much your team would grow if everyone on your team had just 20 customers!
# 4 Book of the Week – This week’s book of the week is “How to Win Friends and Influence People” by Dale Carnegie. This book changed my life for the better. Network marketing is the ultimate “people” business. It’s a volunteer Army and you will have to work with all types of people. Your ability to be liked and get along with others will have a huge impact on whether you succeed or not. If people don’t like you, they won’t work with you or do business with you (not for long anyway).
This classic book shares all kinds of simple secrets that can really help you become a people person. Learn how to become friendlier, how to win people to your way of thinking and how to become a leader. A few of his lessons include:
- Never criticize, condemn, or complain
- Make the other person feel important
- Think from the other person’s perspective
- Learn how to listen
- Look for the best in people
- And much more!
This is really the best book in the marketplace about people skills. Buy a copy, read it, and buy several copies and give them to your serious team members. You will be glad that you did.
# 5 Good People to Approach – Here is a good tip that will really help you out. Hopefully, it won’t offend anyone. I’ve learned from personal experience that the best people to approach (about the business opportunity) are people who are already accustomed to working on commissions. Realtors, insurance agents, entrepreneurs and sales professionals are great prospects. First of all, they are seldom skeptical about a commission based pay structure. Plus, many of them like the idea of being able to leverage themselves without having employees.
To clarify, I’m not saying that someone who has a job is a bad prospect. Many employees are great prospects, but many aren’t. The average person who has had a job their whole life (and no there is nothing wrong with that) is typically skeptical of ANY business or position that is commissioned based.
Another great thing about professionals is that they are typically respected by their peers, they have a great sphere of influence and they are looking to have options.
# 6 Videos of the Week – Here are a few YouTube videos I think you will enjoy. These are some of my favorite videos on YouTube about network marketing. Enjoy.
# 7 Popular Blog Posts on My Blog This Week – Here are some blog posts that are really hot on my blog this past week that I thought you might enjoy.
- MLM Company with Most Six Figure Earners
- Top 33 MLM Books of All Time
- How to Build Your MLM Business Online
- How to Achieve MLM Success
- Top 10 MLM Classified Ads
# 8 Why I Don’t Do Much Social Media – Lots of people ask me why I don’t do much with Facebook and social media to build my business. To be quite frank with you, I think it’s a waste of time for the most part. Most people on social media, specifically Facebook, are there to socialize, not do business. Yes, I do sponsor some people from Facebook. Yes, I have a “closed group” for my mastermind team, and yes, I have a fan page, but I don’t spend more than 5-10 minutes a day on them.
From personal experience, I’ve learned that nothing beats an intimate connection with someone. A phone conversation or face to face meeting is much more effective than spending all day on Facebook sending people private messages.
To be honest, I’ve found Facebook to be more of a time waster than a productive resource. It’s so easy to get distracted and spend hours on the website and not accomplish anything at all to move your business forward.
If you’re going to use Facebook and other social media outlets, be smart about it. Set time limits. Have a daily action plan. Limit yourself. Work smart. When your time is up, logout and move on to something else.
# 9 Quote of the Week – “The successful networkers I know, the ones receiving tons of referrals and feeling truly happy about themselves, continually put the other person’s needs ahead of their own.” – Bob Burg
My Take: Network marketing is not about you; it’s about the other person. When you shift your focus from yourself to helping another person, you can accomplish some amazing things.
# 10 Something I Learned This Week – I have a very successful friend, Catherine, who taught me something valuable this week. She taught me how her successful upline builds her business. She uses a concept known as “heart-felt sharing.”
Basically, when she sponsors someone, she has them invite just TWO of their friends to a coffee shop or other location to share the products and business with them. Typically, she will have two new distributors at the meeting, and each of them has two guests. She does a short presentation and engages in friendly conversation with the group of people and normally sponsors the guests into the business.
From there, she repeats the process with the new people and has each of them invite two of their closest friends. She does this just TWICE per week and has a huge team.
I will be incorporating something similar into my own business, but I will do it with SKYPE. Since all of my team is in other states or countries, I’ll just do this with SKYPE instead of meeting face to face.
Maybe you could try something similar in your business? Instead, of having your person make a huge name list, have them make a list of just 10 names and then invite 2 people to meet with you , and you should them the plan while your new person sits there and listens.
What do you think? Do you think this would work?
I appreciate you being a valued subscriber. I hope you have a great week. Talk to you next week.
Chuck HolmesWebmaster, OnlineMLMCommunity.com
Phone: (352) 503-4816
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