Power Prospecting

If you talk with the top income earners in network marketing, they will all say that prospecting is the key to success. It’s just like prospecting for diamonds, the more successful you are, the higher your income. Diamonds are very valuable and you don’t have to find very many of them to become wealthy. In network marketing, it’s the same – all you have to do is find a few diamonds. So, how do you find them? That’s what we’re going to discuss in this article.

First, let’s examine what a network marketing diamond looks like. Quite often, they will surprise you. My friend, Collette was a single mom with five children. She had no education beyond high school, was working as a part-time secretary, and had a mountain of debt. On the outside, Collette didn’t seem like a diamond, but she had a big reason to succeed. So, the first quality of a diamond is a big purpose or “why”. If the “why” is big enough, everything else will fall into place. Today, Collette is the top income earner in the network marketing company she represents. Beyond the big “why”, diamonds are also open to coaching, they schedule daily time for their business, they’re positive and upbeat, and they feel blessed and are grateful to have found the right business.

Now, let’s discuss how you can find those diamonds. As in the epic story, Acres of Diamonds, you may have diamonds right in your back yard. They could be your parents, children, other relatives, friends, co-workers, pastor, accountant, attorney, hair stylist, and so on. These are the people who make up your warm market (people you know and who know you). Typically, when you join a network marketing company, you are instructed to make a list of everyone you know and begin contacting them about your business. Unfortunately, this usually turns out to be disastrous, as the new networker is not prepared to handle the questions and objections. However, the warm market is a good place to find diamonds, so here is a time-proven, rejection-proof method for prospecting in your warm market.

Instead of calling the people you know and telling them all about your company, spend the time finding out about their life. Use F.O.R.M. – that’s Family, Occupation, Recreation, and Money. In your conversation, ask them questions about time with the family, how their job or business is going, what vacations they have planned, and how they are preparing for their financial future. As you ask the questions, listen for areas that are causing stress – working too many hours, not enough time with the family, possible lay-off, no time or money for vacations, no savings or extra money for investments, etc. Make notes of those areas and when you have two or three stress areas, then it’s time to present the concept of your business, with a question like: “You have several areas that seem to be causing stress (mention each one briefly) and I’m wondering if you would be open to a possible solution?” If the person responds favorably, then present information about your business and how it will be a solution to their areas of stress.

Beyond your warm market, there is a whole world full of diamonds. All you have to do is sift through the dirt to find them. Even better, would be if they found you. This is called attraction marketing. You set yourself up as an authority and high quality prospects come to you. One of the best training programs on attraction marketing is called Magnetic Sponsoring by Mike Dillard. It will teach you how set yourself up to attract quality prospects. Visit http://RWN.magneticsponsoringonline.com to order Mike’s book and participate in his program.

Another great way to find diamonds is through purchased leads. There are a number of companies that do the advertising for you and some even do the prequalification. You are working with people who are already interested in operating a home business, so all you have to do is present your company. Most of the lead companies provide you with scripts and some even offer phone training. The company I have used for many years is Cutting Edge Media, http://www.cuttingedgemedia.com.

A number of top network marketers built their large networks through advertising. They place small classified ads in the newspaper, business magazines, and on the internet. The add shares a few of the benefits of a network marketing business – fire your boss, time and financial freedom, travel, great tax benefits – and then directs the respondent to either call and listen to a recorded message or visit a web site. The message and site will continue to create curiosity, so that the prospect will move on to the next step – a phone call with you.

There are many, many methods for prospecting. Take the time to talk with top income earners in your company about how they prospect. Read books, listen to tapes/CDs, attend teleconferences, and web conferences. Become a sponge for information about prospecting. Decide which methods are going to fit you and your life best and put them to work every day. Work consistently and persistently and soon, you will have a network full of diamonds.

How to Choose the Right Network Marketing Company

When I was first introduced to network marketing in 1979 there were far fewer companies than there are today.  Back then, people didn’t go searching for the right network marketing business, but today it’s quite common.  In fact, I believe that in order to achieve a high level of success in network marketing, you must be with the right company.  Since there are well over 3,000 companies and more popping up every week, the task of finding the right one is often daunting.

Back in the seventies and eighties, it was difficult to research the network marketing industry, but today, primarily because of the internet, it’s quite easy to gather the information that you need in order to make an educated decision.  In the past most people got into network marketing because a friend, family member, or co-worker introduced the company.  Unfortunately, in most cases, this was not the right company and so it resulted in failure or at best moderate success.  Today, you are not forced to go with whatever company is introduced.  Now, you can do your own research and find the company that is going to be best for you.

Choosing the right company doesn’t guarantee your success, however it does increase your odds.  Ultimately your success in network marketing is determined by what you do.  Network marketing is all about building a network of people all buying/using products/services.  Your job is quite simple: provide information about your business to people, answer questions and objections, follow-up, sponsor, train, and support.  Those who have reached the highest levels of success are those who have done more than those who have failed.

Working in the right company will increase your excitement and enthusiasm, which will make all of the necessary tasks much easier and more enjoyable.  Having chosen the right company will increase the odds that the company will be around for many years to come – providing you and your family with financial security.

So, how do you choose the right company? Here are the key factors to consider:

1.      Company – Carefully research the company. How long have they been in business as a network marketing company? If they are a new company (under 2 years old) then carefully examine the financial backing and experience of the management team. They should have a solid mix of people who have been involved in managing successful traditional and/or network marketing companies. It's also best if the management team includes people who have been successful distributors. Research the internet to see if the company has any lawsuits or large numbers of people complaining. A solid company is the foundation for your network marketing success. If the company is solid, you can move on to number two.

2.      Product/Service – First, is this a product or service you can get passionate about? If not, then you might want to find another company. Second, is this a product or service that is in high demand and will be for many years to come? Third, is this a consumable product or service, where people must re-order every month? Fourth, is the product or service unique in some way?

3.      Compensation Plan – Is the plan easy to understand and explain? Does it reward the new person who sponsors a couple people or do you have to sponsor hundreds to make a decent income? Check to see if there are individual and group volume or purchase requirements, so you can weigh that monthly investment into your decision. Find the average amount of time it takes to reach that level. Find out if the commissions are paid monthly, weekly, or daily. Weekly is actually best, as it puts less strain on the company and yet provides quick and consistent pay. The plan should enable a person who has never been involved in network marketing to recoup their initial investment and cover their monthly investment within the first 3 or 4 months. It should also be lucrative enough to attract the big hitters and should enable people to develop a long-term residual income that they will receive whether they work in the business or not.

4.      Marketing – Does the company offer full-color marketing pieces, DVD presentations, and customizable associate web sites? Is there training available that teaches you how to market your business? Make sure that the company has developed a solid internet based ordering system (so your customers can order via a web site). Also, the web site should allow you to sponsor new associates.

5.      Training – Does the company offer a reasonably priced (under $50) associate training kit? Is there training available on the web? Are there conventions and conferences available in cities near you? Are their weekly webinars and teleconferences.

These are the five main factors you should consider when choosing a company. When companies meet your criteria, then you have to use your gut instinct to make a final decision. Does this company feel right? Do I have a sense of peace? If so, then you are ready to join and begin a successful career in network marketing.

5 Questions Prospects Are Asking

In my 32 years of involvement in the network marketing industry, I’ve heard tens of thousands of questions. Network marketing is an often misunderstood business and so often the questions have allowed me to help someone gain a greater understanding of this business.

I find that there are some consistent questions that candidates ask (either verbally or in their head), when considering involvement in a network marketing business. The answers to these questions will help them make a decision, so it is critical to know these questions and how to answer them.

In this article, my intention is to introduce five information gathering questions and the typical answers I give to those questions. Since there are many other questions that can and will be asked, I highly recommend that every network marketer sit down with an upline leader and talk about the typically asked questions and how to answer them. Those who learn how to answer the most commonly asked questions, will succeed in business.

Here are the top five information gathering questions:

1. Isn’t this a pyramid?

My answer: “Pyramids are illegal in all fifty states and the business I’m involved in is a legal network marketing business. The primary difference is that, according to the Attorney General (this information is available on most State Attorney General web sites), if this were a pyramid, you would get paid a fee to recruit people into your business. In my business, I only get paid if products are sold from the company to someone within my network – either a customer or associate. Also, in a pyramid scheme, the only people who make money are those who get in first, but in my company everyone has an equal opportunity to make money and become the top income earner in the company. Can you see how this isn’t an illegal pyramid?”

2.  Do people really make money doing this?

Here’s my answer: “Yes, but the only people who do are those who treat this like a business and work at it every day. Money is made when products (services) are sold within your network, so if you want to earn a solid income, you will need to recruit a network of people who are buying and selling products (services). The company provides excellent training and I will be there to help you succeed, but ultimately the success or failure of your business is up to you. So, are you ready to start making money?”

3.  Does this require sales?

I will ask: “Do you enjoy sales?” If they say “no” then I say, “That’s great because you don’t have to be salesperson in order to succeed. This is a business of sharing information and we have great tools that will present the products/services and business to your candidates. All you do is work with those who are interested.” Now, if they say that they like sales, I say, “That’s great, people who are good at sales often do very well in this business.”

4. How much time does this require?

In other words, they’re life is busy and they aren’t sure this will fit. Here’s my answer: “That will depend upon your goals. If you would like to make a few dollars a month, you could probably invest five hours a week or less. However, if you want to develop a full time income, so that you can fire your boss and enjoy more time freedom, then you will need to invest at least 15 hours a week. The great part is that we have tools that will help you leverage that time. Let’s take a look at those tools and then your schedule to see if this is going to work for you.”

5. Do I have to talk with my friends and family?

This usually indicates that they’ve either had some personal experience with network marketing or they’ve talked with someone who has. Here is how I answer this question: “That all depends on whether you care for your friends and family. This can be a life-changing business. Those who succeed enjoy complete time and financial freedom. Do you think any of your friends or family members would like to enjoy either of those?” The candidate will offer a hesitant “yes” and I continue: “That’s great, then let’s only offer this business to those who want the benefits. The best part is that you can provide them with one of our great marketing tools and it will do the presenting. I will be there with you to answer questions and help you help them get started, how does that sound?”

As your candidates ask questions keep in mind that although it can seem confronting, it’s a sign that they are interested. They are asking questions to gain the information necessary in order to make an educated decision. If their questions are effectively answered, the odds of them joining are increased. I have found that one of the primary differences between the top income earners and those who fail in network marketing, is the ability to answer the most common questions.

Attract Leaders

Do you want to attract leaders into your network marketing business? Become one. Leaders are attracted to other leaders. Here are some quick tips on becoming a leader:

1.    Improve your skills. Leaders are proficient in 50 primary skills. To learn more about those and take a profile that will assess your skill levels, go to www.theparagoneffect.com and order a PE Profile. Once you know the areas where you are not proficient, begin working on those every week and slowly you will become the leader everyone wants to follow.

2.    Create your brand. Use the social media networks like Facebook, Twitter, Linked in, and MySpace to create your leader brand. You do this by posting professional information that will be useful to people who eventually might be interested in your business. The more you present good information, the more you become the go-to person and the more attractive you are. Promote yourself and as you provide value to others, they will begin to promote you.

3.    Be positive. Who wants to be around negative people? Only other negative people, because misery loves company. Become a glass full kind of person. Watch your thoughts and words and make sure that they are those of a leader.

4.    Go the extra mile. If you have a job, become known as the person who works excellently. The person who goes beyond what is asked of him or her. In your network marketing business, under promise and over perform. Never use hype to manipulate people into your business. Instead, become a solution to their issues. Uncover their pain and passion and then offer your business as a solution. Your reputation will spread quickly, resulting in either a promotion at work or growth in your business.

Leaders are attractive. People want to be around and follow them. Do these four things and you will quickly become that kind of leader and attract other leaders to your business!

What Do You Say?

One of the main reasons so many people struggle in network marketing is that they don't know what to say. Here are some quick and easy things to say in different situations:

If someone asks what you do:

"I help people learn how to make money while they sleep. (when they ask how you do that, continue) It's a system used by the ultra rich called leverage. If you are interested and have about 30 minutes, I would be happy to explain it to you?"

If you are talking with someone you know:

"Do you keep your eyes and ears open for great ways to make money? (If yes, set up a time to show them your business)

If you want to market in the cold market:

"I'm conducting a survey, can I ask you a quick question?" (If yes, continue) "What is your biggest struggle in life right now?" (If it is something you can help with your business, which most of the time it will, continue) You know, I just might something that can help with that, would you be interested in learning about it?" (If yes, set up a time to show them your business or product/service)

"I'm expanding a business into the area and am looking for a couple of key leaders who are hard workers, highly motivated, and would like to make some significant money in the coming years, do you know anyone like that?"

The key to network marketing is to make new contacts every week, so memorize and internalize these and you will be ready to make those contacts.

Network Marketing Stats

I was at a great network marketing seminar with Clay Stevens, a couple weeks ago and he gave us these great stats about the network marketing industry:

1,500 network marketing companies in North America
15 million distributors/associates in North America, 70 million worldwide
20 consecutive years of growth
175,000 people enrolling in network marketing in the U.S. each week
500,000 people enrolling in network marketing around the world each week
Less than 1% of the world is involved in network marketing right now
1 out of every 8 households in the U.S. has a home business
3 out of 4 Americans have purchased products from a direct selling/NM company
Billionaire Warren Buffet has purchased 3 network marketing companies
14 direct sales/network marketing companies are listed in the Fortune 500 list

If you've been wondering whether network marketing works, whether it's legal and ethical and moral, hopefully this helps build your belief in this amazing industry!

Biggest Contacting Mistakes

Here are the top five contacting mistakes:

1. No new contacts
2. Not talking to enough people
3. Talking to the wrong people - negative, not enough pain or passion
4. To much conversation before getting to the point
5. Giving too much information

Contacting is not presenting. Effective contacts should be short and sweet, with the purpose of determining if they are interested in learning more. Don't make your contacts into anything more.

Here is a quick and easy contacting script that you could use with either warm or cold market: I'm expanding a business into the area and am looking for a couple of key people. Do you know anyone who is motivated and would like to make a significant income?

If they ask what it is, just say that you have partnered with (name of your company) to help people start their own businesses with great tax advantages and unlimited income. Do you know anyone who might be interested in saving thousands on their taxes and earning a bunch of money?

If they ask for more, just tell them that it's impossible to explain in a few minutes, that you have a 30-45 minute presentation, would they like to see it?

If you can keep the calls under 2 minutes, you are a rock star. Under 5 minutes and you'll do well. Over 5 minutes and you are likely making some of the mistakes outlined above.

The Reason 97% Fail

One of the biggest challenges in network marketing is retention. Approximately 97% of those who join network marketing companies never make any money. One of the reasons for this is that people are not trained properly. The most common scenario is that a person joins a company with a friend or family member, who doesn't know any more about network marketing than they do. Then they are told to make a list of 100 or 200 people and start contacting them. This is like telling the person who wants to be a brain surgeon to go ahead and operate on someone. I certainly wouldn't want to be her patient! Just as I wouldn't want to be the person who is contacted by this new network marketer, because likely they are going to vomit information all over me and that's nasty.

So, what's the answer? Proper training during their first 30 days. Don't let your new distributors talk with anyone until they have been trained. The challenge is how do you train them? Most people use a shot gun approach - they shoot two barrels of information at the new distributor, which is a little like trying to get a drink from a fire hose. The best way is to train them in skills where they are not already proficient, but how do you know this? I suggest that you use the PE Profile. It's a great tool developed by Ri Training that identifies 50 skills of the top income earners. It quickly shows you or your new distributors where they are proficient and where they are not and makes training a piece of cake.

The PE Profile is $99 on the RiTraining site, but I've arranged for a special price of just $25 or you can get the book Six Figures in Six Months and the profile for $30. Go to my team training site, www.TheTVW.com and click on Distributor Training, Step One, and PE Profile. You'll also find a PDF download of the PE Profile Guidebook, which will help you understand the 50 skills and how to improve them.

If you are a network marketing leader, this is a powerful tool that could increase the retention rate in your team. If you are a struggling network marketer, this will help you identify the areas you need to work on in order to become a top income earner. Order your PE Profile today and take the first step to a six figure plus income.

If you are looking for a network marketing opportunity, e-mail me at Rod@TheTVW.com. I'd love to work with you to build a big time residual income and the life of your dreams.