One of the biggest factors of success in the business is your ability to pick the right MLM for you. Obviously, there are many opportunities out there, but picking the right opportunity will ultimately decide your fate.
Does the company have the right systems in place?
How fast is it growing?
Most Common Mistake
So what is the number one mistake most network marketers make? It’s talking too much about their opportunity!
So what does it mean to talk too much? This is the most common mistake that I see in network marketers. You attend a presentation, hear from a great speaker on how much money you are going to make and come out of that meeting fired up and ready to sign up the world! So you set meetings or start calling people on the phone and telling them how excited you are about this new opportunity and how you and they are going to make a crap load of money only to get rejected by your supposed friends and or family members.
There are a couple things wrong with this approach. Number one, you do not have the information to even be discussing the opportunity if you have only been to one presentation and two, whatever you say or do is absorbed and analyzed by the person you are talking to as exactly what they have to do to build the business and if you are bending their ear for 30 minutes or more, they know they do NOT want to do that!
So, what should your approach be? It is certainly a good idea to tell your friends and family members what you are doing but it’s a much better approach to stay vague about it and talk to them for less than 10 minutes. One thing you may try is talk with the person that sponsored you and get him/her to agree to help you with your prospects. That way, you can tell your friends, family members and any prospects that you don’t know everything about it but your friend can fill in the details. Another way is to get them to a presentation like you attended. A great, non-threatening way is to say “Look, I respect you, I think you respect me, come to this meeting and if you like it, Great, but if not, no big deal!”
Who To Approach and How
Who should you approach? It would be easy to say, EVERYONE, however, that is probably not the case. I look for positive, like minded individuals that I actually want to work with. You most certainly want to tell your friends, family or any lead you are generating, about what you are doing but again, do not chase, beg or bug them, just let them know what you are doing so they know. If you are in a fast growing network marketing company, there will be instances when people join AFTER you have joined as they did not know you were in it already. I have personally had this happen to me many times so DO NOT make this mistake!
So, how to approach people about your opportunity? Do not overload them with information or your excitement. It should almost be like fishing. Throw some bait out there and see if they bite. Ask them how they are doing and when they ask you how you are doing you might say something like: “I’m doing great, I’m working on this new project that is really amazing, oh, by the way, how are your kids?” Dropping a line like that might illicit them asking you for more information. Be prepared to answer them with another brief sentence or two about your opportunity. You do NOT want to appear like you are pushing it, but, as they become more intrigued you can share a little more but be very careful not to go in for the kill too quickly. If you want a really, really good book on networking, I highly recommend Bob Burg’s Endless Referrals, which, Amazon has on sale here – Endless Referrals, Third Edition
Just don’t “throw up” your opportunity on people.
Overcoming Objections
You’re involved in a pyramid scheme! Only the people at the top make money! I don’t know anyone! I am dead broke and can’t afford it!
Have you ever heard any of those objections? If you are in network marketing I bet you have heard them many, many times! So let’s discuss overcoming these most common objections.
You have a couple approaches to the “You’re involved in a pyramid scheme” objection. Here are a few answers that may help:
- Do you say that out of personal experience or sheer ignorance?
- Do you work for someone? Ever notice how the owner makes more than the managers that make more than the supervisors that make more than the employees that make more than the janitor? If you drew that out graphically, THAT would be a pyramid! Don’t take my word for out, some gentlemen you make have heard of; Donald Trump and Robert Kiyosaki, wrote a book on it and said this exact thing. In fact, in a recent interview Donald Trump said that if he had to do it over he would have done a network marketing company! And how about the richest man in the world, Warren Buffet, buying a network marketing company (pampered chef) for $400 million! I don’t know about you, but I suspect those guys know a little more about money than I do.
- Yeah, you are right; this may not be for you.
Now, how about that last response? That is known as the takeaway and that will allow you to never get too stressed over network marketing. It is your ace in the hole. The second biggest mistake made by network marketers is spending too much time on the wrong people!
Now, the second objection of “Only the people at the top make money” is pure hogwash. It’s how hard are you willing to work. You can partner up with me in my primary business and do much better than me or worse than me or do absolutely nothing at all.
The third objection of “I don’t know anyone” is an easy one to overcome. Have them immediately pull out their cell phone and ask themselves for each individual in the phone if they are interested in receiving the benefit of whatever product you are promoting and or making extra money on the side. They should be able to come up with at least thirty people.
The fourth objection of “I can’t afford it” may be a little tougher but in probably 90% of the times, it is not the true objection. Do they go to Starbucks everyday? Do they buy lotto tickets? Do they go out to eat all the time? Do any of those activities TRULY give them an opportunity to possibly retire early? The other way to approach this, and the one that I prefer, is to ask them if they had planned on being broke when they reached the age they were at. Because if they are broke doing what they are doing, isn’t it time for them to at least TRY something different? Insanity is doing the same thing over and over and expecting different results. Keep it real with people.
Keeping the Faith
Now, you have to realize that network marketing is one of the ONLY businesses out there that does not have a 5 or 10 year plan to retire, you can legitimately be wealthy after only 1 or 3 years in the right company. And that is without a college degree, very much risk and building it part time! If you work any network marketing company for any length of time you are going to hold meetings where not one person shows up. You are going to get a whole lot of people tell you that you are crazy and or it is a scheme and tell you NO. So what! If you have a bad day at work do you go in the next day? You probably do and what is bad is the job probably has a 30 year retirement plan that will pay you peanuts when you are too old to work anymore!
There are a lot of great books out there for keeping the faith. One of my favorites is Rhonda Byrne’s, The Secret, which, you can pick up here from Amazon - The Secret
. I imagine that a lot of you have read this one already and if you have, READ IT AGAIN!
One surefire way to keep the faith is to MAKE MONEY! It is so important for you to keep in contact with your team via email, phone, or whatever means is best for you and your team. Do for them and they will, naturally, want to do for you.
Let me know what you guys think by leaving your comments below! Make it a great day peeps : )
1. September 2010
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