In a recent query of my MLM Tip of the Day list (www.DailyMLMTips.com) I found that one of the biggest challenges network marketers are facing is finding people to sponsor into their business. Not a big shock, as during my 34 years in MLM, this has always been one of the biggest challenges. Now, unlike all the gurus out there, I don't claim to have all the answers or some magical system that produces an unending supply of leads. However, I can give you some time-proven, field-tested ideas that have worked for me and other top income earners. Here we go:
1. The best leads are always people you know, so start there. If you were opening a restaurant or a retail store, you would certainly tell all your family members and friends, wouldn't you? So, why wouldn't you want to tell them about your network marketing business? Particularly when it could completely transform their lives. You are really doing them a disservice by not giving them the opportunity to look and make their own, educated decision, about your business. AND, don't worry about what they are going to say or think, because what you are worrying about very, very rarely ever happens. You are just the messenger, so deliver the message and if they aren't interested, that's okay, move on.
2. The next best leads are people your friends and family know, so make sure you are always asking for referrals. Learn to ask, "who do you know that is highly motivated and would like to make very serious money in the coming years?" If they don't come up with anyone, you can push it a little, "Really, you don't know anyone who would like to make some big time money and save thousands on their annual taxes each year?" "How about some of your friends? Relatives? Business associates? People you go to church with?" If you push a little (not too much or they will get irritated), they will generally come up with someone. Then just ask them to introduce you by phone, text, or email, so you can contact them. If you keep asking the "who do you know" question, you will have a never ending supply of leads. AND that's the truth!
3. The third best leads are people you meet in your local community, so make sure you are always alert to good prospects. You are looking for people who are good workers, have a positive attitude, and relate with other people well. You can find them at restaurants, drive-through windows, banks, grocery stores, department stores, the post office or other shippers, copy centers, office products stores, cellular stores, computer stores, and anywhere else you go. All you have to do is compliment and ask: "You are an excellent worker, would you be open to earning money outside of what you are doing here, if it didn't jeopardize your job?" If "yes" get their name, email, and phone and promise to email info and call to answer questions.
I also encourage you to become a networker. Go to www.MeetUp.com and find meet-up groups in your local area that would be attended by the kind of people you would like to have in your business. If there aren't any, start one. Also, check the internet for lead exchange and networking groups in your local area. The Chamber of Commerce mixers are a great place to meet motivated business people who might want to diversify their income. Finally, look for local seminars, classes, conferences, and trade-shows where you could meet motivated business or salespeople.
4. The fourth best is to generate leads through social media. By posting on Facebook, Linked-In, Twitter, Instagram, and others, you can find people who are interested in starting a home business. The best way to do this is to post beneficial information that relates to a home business - articles about how many people are starting home businesses or about people who have had success in a home business. Also articles about the economy and the need for extra or retirement income. The more value you create, the more people will trust and respect you. When you see people like your posts, private message them to see if they might be interested in a solution (your home business).
5. The fifth best type of lead are those you purchase. You can purchase very highly qualified leads for $3 to $5 each, which might seem like a lot of money per lead, but if they become a solid customer or member of your team, they will be worth a lot more than that and could bring in others with them. I've successfully used this type of lead, but actually I prefer a less expensive lead that I can send into my automated qualification system, which will then produce more highly qualified leads which I can call. There are many lead vendors out there. My preference is MLMLeads.com, as they have great leads and excellent free training.
These are just my favorite 5 ways to generate leads and the methods I have used to build several large networks and a very nice full-time income since 1998. I hope that they will help you do the same. If you have questions, please feel free to contact me. I'm always looking to help other network marketers.
Rod Nichols, www.RodNichols.com
Showing posts with label prospecting. Show all posts
Showing posts with label prospecting. Show all posts
Tuesday, July 23, 2013
Tuesday, September 9, 2008
The Power Question
I run into so many network marketers who tell me that things aren't going very well. They can't find any prospects. I think, "What are you crazy? There are 300 million people in the U.S. alone!" So, I teach them the "power" question and send them out into the world. Amazingly, most come back and tell me how well their business is doing now that they are using the power question. So, now I'm going to teach it to you too.
Here it is: "What do you do for a living?"
Powerful isn't it? Actually, it's simplicity does give it power. People will always respond. They will never say no. Plus, they will give you useful information. Knowing what they do for a living tells you what might motivate them.
Next you could say, "Wow, you probably make a lot of money doing that, don't you?" What are they going to say? What would you say? Probably something like, "I do alright" or "not really."
Then you ask, "If I could show you something that would enable you to make double or triple what your making now and enjoy more time freedom, would you be interested in taking a look?"
They will either reply "yes" or "no" or ask "what is it". If "yes" or "what is it", say "That's great. It will take some time to explain, so do you have a business card?" If not then ask them to write their name and e-mail address, so you can send them some information and their phone number so you can call to answer questions. Let them know that there will never be any pressure, just a great opportunity for them to gather information and make an educated decision.
It's powerful and it works!
Here it is: "What do you do for a living?"
Powerful isn't it? Actually, it's simplicity does give it power. People will always respond. They will never say no. Plus, they will give you useful information. Knowing what they do for a living tells you what might motivate them.
Next you could say, "Wow, you probably make a lot of money doing that, don't you?" What are they going to say? What would you say? Probably something like, "I do alright" or "not really."
Then you ask, "If I could show you something that would enable you to make double or triple what your making now and enjoy more time freedom, would you be interested in taking a look?"
They will either reply "yes" or "no" or ask "what is it". If "yes" or "what is it", say "That's great. It will take some time to explain, so do you have a business card?" If not then ask them to write their name and e-mail address, so you can send them some information and their phone number so you can call to answer questions. Let them know that there will never be any pressure, just a great opportunity for them to gather information and make an educated decision.
It's powerful and it works!
Friday, August 22, 2008
New Network Marketing Videos
I just shot three new network marketing training videos. They're FREE and you can view them by clicking HERE.
Wednesday, August 20, 2008
Just Do It!
Nike made the phrase popular and it is perfect for network marketing. Having been in the industry for over 29 years, I've had a chance to work with tens of thousands of network marketers and have found there are many reasons why people fail, but the consistent number one is lack of productive action.
To build a large and lucrative network marketing business, you need to do X things:
1. Learn - gain knowledge about your company, products/services, and compensation plan. You don't have to know everything, but at least know where to get the answers.
2. Prospect - talk with people about your business. There many great methods for prospecting. Make sure you talk with your upline leaders about how they are doing it. The key here is to think of your business like a funnel. You place a lot of new prospects in the top (which is wide) and a few come out the bottom (which is narrow). The more you put in, the more will come out.
3. Sponsor - the key here is to sponsor people correctly. Most network marketing businesses have a starter kit that costs under $50. This is the cost to join a company. However, if you are working with a legitimate product company, you will want your new recruits to understand the products and that requires them to use them. So, typically there is a starter product pack that you should recommend. Also, they will need a web site and marketing materials, so make sure you include all those things in their starter pack. If you start people out right, they have a much better chance of success. You should also work with your upline leaders to set goals for the number of new people you will sponsor monthly. In the beginning, you should invest 90% of your time to prospecting and sponsoring. Once you've built a good size network with a number of solid leaders, who are building on their own, then you can back off a bit, but you should never go below 50% of your time dedicated to prospecting and sponsoring.
4. Train - poor or lack of training is another primary reason for failure in network marketing, so make sure that your new recruits get good training. Check with your company and upline to see what is already offered. For the first 30 days, you should stay very close to your new recruit. Your goal should be to help them recruit at least a couple new people in their first month and to get them earning $500 a month as quickly as possible. If a person is making $500 a month, they will stick. Offer yourself for personal meetings and 3-way calls with prospects. Then help your new recruits train their new recruits.
5. Support - once your downline members are up and running on their own, continue to support them through encouragement, contests, advanced training, gatherings - meetings/teleconferences, etc. Your job is to build a cohesive team that is all striving toward success together. TEAM = Together Everyone Achieves More.
Determine how much time you can commit to your business every week and then do these five things. If you do this consistently, you will be successful and enjoy the fruits of your labor - time and financial freedom.
To build a large and lucrative network marketing business, you need to do X things:
1. Learn - gain knowledge about your company, products/services, and compensation plan. You don't have to know everything, but at least know where to get the answers.
2. Prospect - talk with people about your business. There many great methods for prospecting. Make sure you talk with your upline leaders about how they are doing it. The key here is to think of your business like a funnel. You place a lot of new prospects in the top (which is wide) and a few come out the bottom (which is narrow). The more you put in, the more will come out.
3. Sponsor - the key here is to sponsor people correctly. Most network marketing businesses have a starter kit that costs under $50. This is the cost to join a company. However, if you are working with a legitimate product company, you will want your new recruits to understand the products and that requires them to use them. So, typically there is a starter product pack that you should recommend. Also, they will need a web site and marketing materials, so make sure you include all those things in their starter pack. If you start people out right, they have a much better chance of success. You should also work with your upline leaders to set goals for the number of new people you will sponsor monthly. In the beginning, you should invest 90% of your time to prospecting and sponsoring. Once you've built a good size network with a number of solid leaders, who are building on their own, then you can back off a bit, but you should never go below 50% of your time dedicated to prospecting and sponsoring.
4. Train - poor or lack of training is another primary reason for failure in network marketing, so make sure that your new recruits get good training. Check with your company and upline to see what is already offered. For the first 30 days, you should stay very close to your new recruit. Your goal should be to help them recruit at least a couple new people in their first month and to get them earning $500 a month as quickly as possible. If a person is making $500 a month, they will stick. Offer yourself for personal meetings and 3-way calls with prospects. Then help your new recruits train their new recruits.
5. Support - once your downline members are up and running on their own, continue to support them through encouragement, contests, advanced training, gatherings - meetings/teleconferences, etc. Your job is to build a cohesive team that is all striving toward success together. TEAM = Together Everyone Achieves More.
Determine how much time you can commit to your business every week and then do these five things. If you do this consistently, you will be successful and enjoy the fruits of your labor - time and financial freedom.
Tuesday, August 19, 2008
Breaking News for Network Marketers
Rod Nichols' Breaking News for Network Marketers:
Are you a Christian Network Marketer?
Join the Christian Network Marketers Association
It's FREE. Go to http://cnmaonline.ning.com
Want to network with other network marketers and learn from the best?
Join Doug Firebaughs new social network at
http://socialmediatrainingnetwork.ning.com
Here's the best network marketing publication:
http://www.thenetworkmarketingmagazine.com
Here's a site packed with lot's of articles on network marketing:
http://www.BetterNetworker.com
Here's a site that will help you generate tons of free leads for your network marketing business and earn extra money doing it: http://www.the2percentplan.com/plus
Looking for a way to keep track of all your prospects and effectively follow-up on them?
Check out Oprius by clicking HERE.
Did you get hammered by the IRS last year? Most people did and don't know it. If you don't know the tax secrets, you're probably paying too much. Get in the know and save money by clicking HERE.
Are you a Christian Network Marketer?
Join the Christian Network Marketers Association
It's FREE. Go to http://cnmaonline.ning.com
Want to network with other network marketers and learn from the best?
Join Doug Firebaughs new social network at
http://socialmediatrainingnetwork.ning.com
Here's the best network marketing publication:
http://www.thenetworkmarketingmagazine.com
Here's a site packed with lot's of articles on network marketing:
http://www.BetterNetworker.com
Here's a site that will help you generate tons of free leads for your network marketing business and earn extra money doing it: http://www.the2percentplan.com/plus
Looking for a way to keep track of all your prospects and effectively follow-up on them?
Check out Oprius by clicking HERE.
Did you get hammered by the IRS last year? Most people did and don't know it. If you don't know the tax secrets, you're probably paying too much. Get in the know and save money by clicking HERE.
Monday, August 18, 2008
5 Ways to Work Your Warm Market
As every network marketer knows, the best place to build a business is in the warm market. You know them; have rapport with them, and possibly a high level of mutual respect. The close ratio is at least triple that of the cold market.
Here are 5 ways that you can use to contact your warm market without jeopardizing your relationships:
1. In-home Business Briefing
This is the quickest and most effective way to build a network marketing business. People have been building large networks using in-home briefings for over fifty years. To conduct an in-home, you will need a place in your home where you can comfortably seat the number of people you would like to attend.
You will also want to have a TV and DVD player, plus a place where you can display products (if your business is product-based).
The key to an in-home is to make it appear duplicable. You want the people attending to see a way that they too can do the business. So, the best way to do an in-home is to tell your story (how you discovered your company and got involved).
Next, play a DVD that tells about the company, products, and the compensation plan. If you have a product-based business you might add a demonstration or give your prospects samples.
Take time to answer questions and then ask for those who want to order the products or become distributors to stay around to complete the paperwork. (See the complete in-home script later in this section)
The first step is to establish a day and time for your in-home. Second, make up a list of people you want to invite. Third, practice the inviting script that follows until you feel comfortable making the calls. Fourth, call your prospects and invite them. Invite twice as many as you would like to actually show-up, as 50% will say no when you call and 50% of those who swear they are coming will not.
It¹s a very good idea to work with your sponsor or an upline leader on an inviting script. Also, practice dealing with possible comments like "What¹s this all about?" or "Is this network marketing or multi-level marketing?" or "Is this Amway?" or "I¹m too busy to add anything else." or "I¹m busy that night."
If you are not comfortable doing the business briefing, invite your sponsor or an upline leader to help out. If they are not available, just tell your story (how you got involved, why you are excited about the company, and what you are expecting as benefits), play a company video, and answer questions. If you have upline leaders who are long-distance to you, arrange to have one of them available toward the end of your briefing. Call the leader and put him/her on a speakerphone for all your guests to hear. Your leader will do the final close.
2. Information Approach
Many a new distributor has been concerned about contacting their warm market, because they didn¹t want their friends and family feeling like they were selling them something. The information approach is a great answer.
Let¹s say you had opened a restaurant. Would you keep it a secret from your friends and family? Most likely you would call, tell them all about the restaurant, and invite them to come down and eat. Use this same approach with your network marketing business. Instead of calling them with the idea of sponsoring or selling them products, instead approach purely with the idea of informing them about your business.
Call up your warm market, tell them about your business, and invite them to take a look if they want. If they are not interested, don¹t pressure. Always let them know that it isn¹t important to you that they join or buy products, but rather that they take the time to look at the information and understand your business. If they are interested in getting more involved that¹s great too, you would love to work with them.
3. Opinion Approach
If you have people in your warm market who are somewhat intimidating due to their level of success, then this is the approach to use. Everyone loves to give their opinion, so you will rarely find people in your warm market that will reject this approach.
Contact your warm market candidate and say something like this, "Hi John, this is Bill, how are things? (continue after a little natural chit-chat) The reason for my call is to ask your help. I have just started a new business that has me more excited than anything I have ever done. The potential is incredible, if I do this right. That¹s where I need your help. I’ve always valued your business experience and knowledge. Would you be willing to take about an hour of your valuable time and review this business for me? I’d like to know how you would build the business, if it were yours. I¹m also going to be looking for some strong partners, so as you are reviewing the business; I¹d like you to think of anyone who might fit. Will you do that for me?”
If they say yes, get them an information packet including printed materials, a DVD, CD, web site address, teleconference or web conference, etc. In the packet, remind them that you would like them to give their opinion on how to do the business and who might make good partners. That way you won’t get a bunch of their negative misconceptions.
This is also a great approach for young network marketers to use with parents and older business contacts.
4. Introductory Letters
Many network marketers have large warm markets, numbering into the thousands. It would take far too long to call and arrange to meet each one. Particularly since many of them may be out of state. So, a good, quick answer is an introductory letter. The key here is that if you don¹t let your warm market know that you are involved in network marketing with your company, someone else will and the next thing you know, you¹ll be getting an introductory letter or phone call from your best friend, mother, father, sister, or brother.
An introductory letter should be limited to one page. People are busy and they already get too much mail. Make it easy on them.
In the letter you want to let them know that you have started a new business with a network marketing company and give the name. Explain that you had some reservations about being involved in network marketing until you discovered the tremendous potential to develop long-term, walk-away, residual income. Let them know that you are working your business part-time (10 to 15 hours a week) and that your support team has supplied excellent training and marketing programs.
Inform them of the tremendous benefits tax deductions, time freedom, control over your financial destiny, helping others improve their lives, self-improvement, etc. Let them know that the up-front investment is low, as is the risk. There is no need for an office (outside the home), inventory, employees, or sophisticated bookkeeping systems.
Tell them that you would enjoy working with them toward the ultimate goal of financial and time freedom. Explain that you do not want them to feel pressured, so you will not follow-up on this letter. If they would like to know more, they can call (a hotline, conference call, or your voice mailbox with a 2-minute informational message) or visit your web site and provide the URL.
5. Product Demonstration
If your company is product-based, another great way to build a business in your warm market is to do product demonstrations. This falls back to the old and very successful party-plan concept. Companies like Tupperware and Discovery Toys have built mammoth businesses using this approach.
First, arrange a day and time for the demonstration. Determine whom you are going to invite and send out invitations. Indicate that you will be serving light refreshments at the demonstration. I would suggest coffee, water, punch, and cookies or light finger pastries.
Remember to invite twice as many people as you want to come. If you want to improve your attendance, do a follow-up call a few days before the event.
Start your demonstration on time. Tell your story about how you found the company, why you are excited about the products, and a brief overview of the company. Next, give them some logical justification for why they would want to purchase the products from the company and you superior products, convenience, monetary savings, etc.
Now, begin through the key products describe them and their benefits to the attendees. If you can sample the products, do so during the demonstration. After covering each product ask if there are any questions. Answer those before moving on to the next product. Limit the number of products so you can keep the whole demonstration to an hour to an hour and a half. When you have completed all the products, again ask if there are any questions.
After answering questions, offer a special product package or special pricing on the products demonstrated, if they purchase or order at the demonstration. Take orders with payment.
Then indicate that there is also a way that they could make money, if interested, they should ask you after the demonstration (show them the business opportunity). Also, that they could earn free products by allowing you to come in and do a demonstration in their home (offer them 10% of the profits from the demonstration, in the form of products). Try to book at least one demonstration from each one that you do. Make sure that everyone walks away with literature.
Demonstrations are a soft way of building a business. It¹s slower, so keep that in mind if you are anxious to replace your current income and gain more time freedom.
If you cultivate your warm market properly, you may never have to enter the cold market and will build a large and lucrative business with all of your friends and family members.
Here are 5 ways that you can use to contact your warm market without jeopardizing your relationships:
1. In-home Business Briefing
This is the quickest and most effective way to build a network marketing business. People have been building large networks using in-home briefings for over fifty years. To conduct an in-home, you will need a place in your home where you can comfortably seat the number of people you would like to attend.
You will also want to have a TV and DVD player, plus a place where you can display products (if your business is product-based).
The key to an in-home is to make it appear duplicable. You want the people attending to see a way that they too can do the business. So, the best way to do an in-home is to tell your story (how you discovered your company and got involved).
Next, play a DVD that tells about the company, products, and the compensation plan. If you have a product-based business you might add a demonstration or give your prospects samples.
Take time to answer questions and then ask for those who want to order the products or become distributors to stay around to complete the paperwork. (See the complete in-home script later in this section)
The first step is to establish a day and time for your in-home. Second, make up a list of people you want to invite. Third, practice the inviting script that follows until you feel comfortable making the calls. Fourth, call your prospects and invite them. Invite twice as many as you would like to actually show-up, as 50% will say no when you call and 50% of those who swear they are coming will not.
It¹s a very good idea to work with your sponsor or an upline leader on an inviting script. Also, practice dealing with possible comments like "What¹s this all about?" or "Is this network marketing or multi-level marketing?" or "Is this Amway?" or "I¹m too busy to add anything else." or "I¹m busy that night."
If you are not comfortable doing the business briefing, invite your sponsor or an upline leader to help out. If they are not available, just tell your story (how you got involved, why you are excited about the company, and what you are expecting as benefits), play a company video, and answer questions. If you have upline leaders who are long-distance to you, arrange to have one of them available toward the end of your briefing. Call the leader and put him/her on a speakerphone for all your guests to hear. Your leader will do the final close.
2. Information Approach
Many a new distributor has been concerned about contacting their warm market, because they didn¹t want their friends and family feeling like they were selling them something. The information approach is a great answer.
Let¹s say you had opened a restaurant. Would you keep it a secret from your friends and family? Most likely you would call, tell them all about the restaurant, and invite them to come down and eat. Use this same approach with your network marketing business. Instead of calling them with the idea of sponsoring or selling them products, instead approach purely with the idea of informing them about your business.
Call up your warm market, tell them about your business, and invite them to take a look if they want. If they are not interested, don¹t pressure. Always let them know that it isn¹t important to you that they join or buy products, but rather that they take the time to look at the information and understand your business. If they are interested in getting more involved that¹s great too, you would love to work with them.
3. Opinion Approach
If you have people in your warm market who are somewhat intimidating due to their level of success, then this is the approach to use. Everyone loves to give their opinion, so you will rarely find people in your warm market that will reject this approach.
Contact your warm market candidate and say something like this, "Hi John, this is Bill, how are things? (continue after a little natural chit-chat) The reason for my call is to ask your help. I have just started a new business that has me more excited than anything I have ever done. The potential is incredible, if I do this right. That¹s where I need your help. I’ve always valued your business experience and knowledge. Would you be willing to take about an hour of your valuable time and review this business for me? I’d like to know how you would build the business, if it were yours. I¹m also going to be looking for some strong partners, so as you are reviewing the business; I¹d like you to think of anyone who might fit. Will you do that for me?”
If they say yes, get them an information packet including printed materials, a DVD, CD, web site address, teleconference or web conference, etc. In the packet, remind them that you would like them to give their opinion on how to do the business and who might make good partners. That way you won’t get a bunch of their negative misconceptions.
This is also a great approach for young network marketers to use with parents and older business contacts.
4. Introductory Letters
Many network marketers have large warm markets, numbering into the thousands. It would take far too long to call and arrange to meet each one. Particularly since many of them may be out of state. So, a good, quick answer is an introductory letter. The key here is that if you don¹t let your warm market know that you are involved in network marketing with your company, someone else will and the next thing you know, you¹ll be getting an introductory letter or phone call from your best friend, mother, father, sister, or brother.
An introductory letter should be limited to one page. People are busy and they already get too much mail. Make it easy on them.
In the letter you want to let them know that you have started a new business with a network marketing company and give the name. Explain that you had some reservations about being involved in network marketing until you discovered the tremendous potential to develop long-term, walk-away, residual income. Let them know that you are working your business part-time (10 to 15 hours a week) and that your support team has supplied excellent training and marketing programs.
Inform them of the tremendous benefits tax deductions, time freedom, control over your financial destiny, helping others improve their lives, self-improvement, etc. Let them know that the up-front investment is low, as is the risk. There is no need for an office (outside the home), inventory, employees, or sophisticated bookkeeping systems.
Tell them that you would enjoy working with them toward the ultimate goal of financial and time freedom. Explain that you do not want them to feel pressured, so you will not follow-up on this letter. If they would like to know more, they can call (a hotline, conference call, or your voice mailbox with a 2-minute informational message) or visit your web site and provide the URL.
5. Product Demonstration
If your company is product-based, another great way to build a business in your warm market is to do product demonstrations. This falls back to the old and very successful party-plan concept. Companies like Tupperware and Discovery Toys have built mammoth businesses using this approach.
First, arrange a day and time for the demonstration. Determine whom you are going to invite and send out invitations. Indicate that you will be serving light refreshments at the demonstration. I would suggest coffee, water, punch, and cookies or light finger pastries.
Remember to invite twice as many people as you want to come. If you want to improve your attendance, do a follow-up call a few days before the event.
Start your demonstration on time. Tell your story about how you found the company, why you are excited about the products, and a brief overview of the company. Next, give them some logical justification for why they would want to purchase the products from the company and you superior products, convenience, monetary savings, etc.
Now, begin through the key products describe them and their benefits to the attendees. If you can sample the products, do so during the demonstration. After covering each product ask if there are any questions. Answer those before moving on to the next product. Limit the number of products so you can keep the whole demonstration to an hour to an hour and a half. When you have completed all the products, again ask if there are any questions.
After answering questions, offer a special product package or special pricing on the products demonstrated, if they purchase or order at the demonstration. Take orders with payment.
Then indicate that there is also a way that they could make money, if interested, they should ask you after the demonstration (show them the business opportunity). Also, that they could earn free products by allowing you to come in and do a demonstration in their home (offer them 10% of the profits from the demonstration, in the form of products). Try to book at least one demonstration from each one that you do. Make sure that everyone walks away with literature.
Demonstrations are a soft way of building a business. It¹s slower, so keep that in mind if you are anxious to replace your current income and gain more time freedom.
If you cultivate your warm market properly, you may never have to enter the cold market and will build a large and lucrative business with all of your friends and family members.
Thursday, August 14, 2008
The 100% Principle in Network Marketing
Do you know that there is a 100% chance that someone you know is thinking about or wishing for more money or more free time. The unfortunate part is that you don't know who those people are, so you must sift for them. It's like the old card trick - there are 52 cards in a deck
(54 with the jokers and there are always a few jokers in the crowd, so you better leave them in) and 4 aces. The 4 aces represent your four front-line people, your gold nuggets! If you pulled up the first 10 cards without an ace, would you quit? Of course not, because you know that the 4 aces are there. In fact you could probably pull up 50 cards (including those 2 jokers) and still not quit!
4 aces out of 54 cards is about a 7.5% close ratio. Think of your recruiting efforts in the same way. You have a certain number of people in your circle of influence or warm market. Let's say it's 100 people. That means that there is 100% chance that 7.5 of those people are looking for what you have to offer with your company. You may be lucky and find that there are more than that, but at least you know that there are 7.5 out of every 100.
Start sifting through your warm market to find your 7.5 aces. Don't worry about the rest of the people who say NO. They aren't aces and all you're looking for are aces.
(54 with the jokers and there are always a few jokers in the crowd, so you better leave them in) and 4 aces. The 4 aces represent your four front-line people, your gold nuggets! If you pulled up the first 10 cards without an ace, would you quit? Of course not, because you know that the 4 aces are there. In fact you could probably pull up 50 cards (including those 2 jokers) and still not quit!
4 aces out of 54 cards is about a 7.5% close ratio. Think of your recruiting efforts in the same way. You have a certain number of people in your circle of influence or warm market. Let's say it's 100 people. That means that there is 100% chance that 7.5 of those people are looking for what you have to offer with your company. You may be lucky and find that there are more than that, but at least you know that there are 7.5 out of every 100.
Start sifting through your warm market to find your 7.5 aces. Don't worry about the rest of the people who say NO. They aren't aces and all you're looking for are aces.
Monday, August 11, 2008
You Wouldn't Be Interested Would You?
There was once a desperate insurance sales manager who was trying to figure out how to get his agents to sell more. Finally he called them all into a meeting and told them to go out and say to people, "you wouldn't be interested in insurance would you?" Since this was so easy, the agents spoke to many more people and the sales skyrocketed.
If your network marketing volumes aren't where you want them, you could do the same thing. Why not go out and say to people, "You wouldn't be interested in making some extra money would you?" Imagine if you said this to everyone you met, what would happen to your recruiting numbers. What would happen if you taught this simple technique to your entire downline?
You wouldn't be interested in getting wealthy would you?
If your network marketing volumes aren't where you want them, you could do the same thing. Why not go out and say to people, "You wouldn't be interested in making some extra money would you?" Imagine if you said this to everyone you met, what would happen to your recruiting numbers. What would happen if you taught this simple technique to your entire downline?
You wouldn't be interested in getting wealthy would you?
Friday, August 8, 2008
Facing Rejection
“No, I can't see myself doing something like that!” “This is one of those pyramid schemes!” “No one ever makes any money in these deals!” “You're a fool for spending your time, this is a scam!”
Sound familiar? These are all things I’ve heard during my time in network marketing. The critics are always there to reject you and try to steal your dreams. Don't let them. After all, will they be paying your mortgage or car payments? Are they going to send your kids through college? Will they be there to take care of you when you’re elderly? NO! So, don't worry about what they say, listen to your heart.
If you have done your due diligence and believe in your company, products, and upline, then you can never truly experience rejection. People who say “no” or make comments like those above are just misinformed, misdirected, misguided, have not received enough information, or are just not at the right time in their lives. They are not rejecting you, the company or products.
Here is some great ways to prepare you for the NO's:
1. Belief - you must gain a strong belief in your company, products, upline and most of all yourself. Attend all the trainings and business briefings you can find. Go to annual conventions and regional conferences. Get on the company e-mail and voice mail system. Listen to every company CD and watch every DVD. If possible, visit the corporate facilities and talk with the founder(s) of the company. Time, training and experience will build your belief system to the point where you are bullet proof.
2. Attitude - you have the gold mine and you're offering it to other people. If they don't want to dig, that's their loss. Just continue to offer it. Eventually you will find enough people to dig and you will enjoy financial security and time freedom.
4. Message and the messenger - you are just the messenger. You must continually remind prospects not to judge the opportunity (the message) by you or your success (the messenger). Your company and products are the message.
Help your prospects understand that they must review the information carefully and then make a good, educated decision.
NO's are necessary for success in network marketing. Each time someone says NO, find out why. That will help you to provide the right information at the right time. It will also help you understand that it has nothing to do with you.
The more rejection you can handle, the greater your success in network marketing.
Sound familiar? These are all things I’ve heard during my time in network marketing. The critics are always there to reject you and try to steal your dreams. Don't let them. After all, will they be paying your mortgage or car payments? Are they going to send your kids through college? Will they be there to take care of you when you’re elderly? NO! So, don't worry about what they say, listen to your heart.
If you have done your due diligence and believe in your company, products, and upline, then you can never truly experience rejection. People who say “no” or make comments like those above are just misinformed, misdirected, misguided, have not received enough information, or are just not at the right time in their lives. They are not rejecting you, the company or products.
Here is some great ways to prepare you for the NO's:
1. Belief - you must gain a strong belief in your company, products, upline and most of all yourself. Attend all the trainings and business briefings you can find. Go to annual conventions and regional conferences. Get on the company e-mail and voice mail system. Listen to every company CD and watch every DVD. If possible, visit the corporate facilities and talk with the founder(s) of the company. Time, training and experience will build your belief system to the point where you are bullet proof.
2. Attitude - you have the gold mine and you're offering it to other people. If they don't want to dig, that's their loss. Just continue to offer it. Eventually you will find enough people to dig and you will enjoy financial security and time freedom.
4. Message and the messenger - you are just the messenger. You must continually remind prospects not to judge the opportunity (the message) by you or your success (the messenger). Your company and products are the message.
Help your prospects understand that they must review the information carefully and then make a good, educated decision.
NO's are necessary for success in network marketing. Each time someone says NO, find out why. That will help you to provide the right information at the right time. It will also help you understand that it has nothing to do with you.
The more rejection you can handle, the greater your success in network marketing.
Tuesday, July 29, 2008
How to Prospect Without Joining the NFL (No Friends League)
One of the most common mistakes I see made in network marketing is what I call the “vomit approach”. A new network marketer learns about their company and products and then excitedly vomits that information on friends and family. This not only confuses the prospect, but the hype turns them off. Soon they are avoiding the new network marketer. The better approach is to ask questions and find pain areas. Then present the appropriate information. The results are always much better.
Unfortunately, most people like to talk more than listen. I believe that God gave us two ears and one mouth for a reason - listen twice as much as you talk. To help you learn to ask more questions, I'm going to give you a simple acronym - F.O.R.M.
The "F" is for Family. Ask your prospect about his/her family. Talk about the kids. Discuss family goals. Ask if he/she has as much time with the family as they would like. Talk about vacations, their home, vehicles, college, etc. If they mention that they haven't had a vacation in a long time, that they work long hours and don't get to spend time with the family or that they don't know where the money will come from for college, then you've got a pain area.
The "O" is for Occupation. Ask about their job or business - how is it going? Any downsizing going on? Merger or buyout possibilities? Long-term viability of their job? Making as much money as they would like? If they show some doubt about their job or make comment about the lack of money or the amount of stress, then you've got a pain area.
The "R" is for Recreation. Ask about vacations, hobbies, golf, boating, bowling, etc. If your prospect complains about lack of vacation time at work, lack of money to take a vacation or lack of time to really enjoy any outside activities, then you've got a good pain area.
The "M" is for Money. Talk about the insecurity of the economy and social security. Ask what they are doing to prepare for future retirement. Ask about investments. Ask what they do with spare money each month. If they complain about not enough money or concern over their ability to retire some day, then you have a pain area.
F.O.R.M. makes it easy to remember, but you don't have to ask questions in order. You may find yourself flipping around. My suggestion, the first few times, is to write a series of questions and talk with people on the phone. That way you have a good start and if you get stuck, you can refer to the list.
By asking questions, you uncover needs and wants. Then you can go back to the prospect and say something like: “Mary, we were talking the other day and you mentioned (quickly review the pain areas) and I felt bad for you. I don’t know if you’d be interested or if this is even right for you, but I just might have a solution and shame on me if I don’t let you know about it. I’ve found a unique home based business that has great income potential, offers excellent tax benefits, and provides the opportunity for you to have more free time. In your case it could help with each of the areas you mentioned. Would you be interested in taking a look?” Most will say “yes” and then you can present your business as a solution to their issues. This will dramatically increase your close ratios and once they’ve joined, you’ll be able to help them build a business that will eliminate those pain areas.
The best thing about this approach is that you won’t alienate any of your friends or family members. They won’t see you as a salesperson and run away. Rather they will see you as someone who provided them a great solution to their struggles.
**If you have been enjoying the articles on this blog, go to www.RodNichols.com and click on Newsletter and subscribe to my MLM newsletter. Weekly you will receive great articles and resources that will help you build a large and lucrative network marketing business.
Unfortunately, most people like to talk more than listen. I believe that God gave us two ears and one mouth for a reason - listen twice as much as you talk. To help you learn to ask more questions, I'm going to give you a simple acronym - F.O.R.M.
The "F" is for Family. Ask your prospect about his/her family. Talk about the kids. Discuss family goals. Ask if he/she has as much time with the family as they would like. Talk about vacations, their home, vehicles, college, etc. If they mention that they haven't had a vacation in a long time, that they work long hours and don't get to spend time with the family or that they don't know where the money will come from for college, then you've got a pain area.
The "O" is for Occupation. Ask about their job or business - how is it going? Any downsizing going on? Merger or buyout possibilities? Long-term viability of their job? Making as much money as they would like? If they show some doubt about their job or make comment about the lack of money or the amount of stress, then you've got a pain area.
The "R" is for Recreation. Ask about vacations, hobbies, golf, boating, bowling, etc. If your prospect complains about lack of vacation time at work, lack of money to take a vacation or lack of time to really enjoy any outside activities, then you've got a good pain area.
The "M" is for Money. Talk about the insecurity of the economy and social security. Ask what they are doing to prepare for future retirement. Ask about investments. Ask what they do with spare money each month. If they complain about not enough money or concern over their ability to retire some day, then you have a pain area.
F.O.R.M. makes it easy to remember, but you don't have to ask questions in order. You may find yourself flipping around. My suggestion, the first few times, is to write a series of questions and talk with people on the phone. That way you have a good start and if you get stuck, you can refer to the list.
By asking questions, you uncover needs and wants. Then you can go back to the prospect and say something like: “Mary, we were talking the other day and you mentioned (quickly review the pain areas) and I felt bad for you. I don’t know if you’d be interested or if this is even right for you, but I just might have a solution and shame on me if I don’t let you know about it. I’ve found a unique home based business that has great income potential, offers excellent tax benefits, and provides the opportunity for you to have more free time. In your case it could help with each of the areas you mentioned. Would you be interested in taking a look?” Most will say “yes” and then you can present your business as a solution to their issues. This will dramatically increase your close ratios and once they’ve joined, you’ll be able to help them build a business that will eliminate those pain areas.
The best thing about this approach is that you won’t alienate any of your friends or family members. They won’t see you as a salesperson and run away. Rather they will see you as someone who provided them a great solution to their struggles.
**If you have been enjoying the articles on this blog, go to www.RodNichols.com and click on Newsletter and subscribe to my MLM newsletter. Weekly you will receive great articles and resources that will help you build a large and lucrative network marketing business.
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