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Posts Tagged ‘Prospecting and Closing’

Prospecting and Closing Tip 6 – Who Is Attracted To Network Marketing Anyway?

June 19th, 2008


Let’s shift focus a little on this blog…

This tip may not exactly fit under prospecting tips or closing tips (aka sales closing techniques), but I want to talk about who is attracted to network marketing because when you understand it, it will help you prospect and close better if you start communicating with individuals who possess some qualities that make them open to network marketing.

First, understand this: There is a difference between someone who is attracted to it versus someone who will give it a try.

Early on in my career, I used to get excited about crossing paths with minimum age workers at local grocery stores, restaurants, etc. I mistakenly thought since they were making little money, something such as network marketing would definitely appeal to them.

I thought I would save them from the pains of minimum wage! Until I learned some very vital lessons:

Success is voluntary.
Success requires sacrifice.
Success requires commitment.
Success requires mental toughness (mindset).

I found most minimum wage workers simply did not possess these traits nor did they want to.

So WHO exactly is attracted to the sacrifices, commitment and mental toughness that network marketing requires?

If you just said not a whole lot of people, you would be right. But that’s a mystery of life, so just accept it.

Interestingly, most network marketing companies and uplines will tell you everyone will love network marketing. I mean, really, who doesn’t want to make money while they sleep and leverage out the efforts of hundreds or thousands of peoples efforts, right?

I have found that nothing is further from the truth. To discover who was really attracted to network marketing, I looked looked at my own personal profile.

And here’s my profile:

  • B.S. in Computer Science with a 3.9 GPA
  • Member of several honor societies
  • Ridiculously outside the box thinker
  • I love mastermind groups
  • Young (I haven’t hit 30 YET…)
  • Extremely optimistic
  • Spiritual

Since then I have talked to many people that are successful in network marketing and discovered many things in common, and I’m going to list them now:

College Graduates/Professionals:

Most of my Network and Internet Marketing friends and business partners are college graduates.

Also, a few months back I went to a seminar for my own network marketing company and they asked all the college graduates to stand up. 70% of the room stood up.

Don’t let this surprise you like it surprised me. Graduating colleges takes commitment and work. It takes investing into YOURSELF. Period. It takes sacrifices and going through a tough process to arrive at an end goal.

The same is true of Network Marketing (it is another profession and will likely take years for you to really understand). And it requires you to invest in YOURSELF.

Outside the box thinkers:

Network Marketing is an outside the box profession, so it is a natural fit that outside the box thinkers are all over in network marketing.

If you can think outside the box, you can grasp the concept of money working for you instead of you working for money. When you can grasp that, network marketing is typically very easy to grasp.

Young people (under 30):

Now I’m not saying the 30+ crowd is not or cannot be attracted to network marketing. They certainly are and can be!

I’m stating this here because I see more and more young people coming into network marketing and flourishing. And this trend will continue.

Why is this? It seems to me that younger people are more open to learning new skills, ideas and thinking outside the box and it seems the older we get, the more prudent we become making us close-minded to new ideas and learning new skills.

Consider this quote by Pearl S. Buck:

“The young do not know enough to be prudent, and therefore they attempt the impossible – and achieve it, generation after generation.”

Sales professionals:

Everyone’s favorite bad guys also known as sales professionals are typically optimistic, outside the box, very personable, full of charisma and DO NOT have a problem getting paid what they are worth versus an hourly or salary-based pay.

By the way, sales is the highest paid professional in the world. And network marketing allows you to put a sales team together and leverage the efforts of others into a residual model. This becomes quite powerful over time. And, by the way, most sales jobs do not have any residual based pay built in, which is typically very attractive to sales professionals.

People with a mentally tough mindset coupled burning desire to design their life instead of earning a living:

Quite simply, the most important element. Just about every successful network marketer I know has a mentally tough mindset coupled with a burning desire to live life in big way instead of working hard for money their entire life and tip-toeing quietly to their grave. This is the group of individuals willing to sacrifice the 7 (yes, SEVEN) hours of television being watched everyday by the average American.

On this idea, I’ll leave you with a quote from the absolutely awesome Jim Rohn:

“When the end of your life comes, let the end of your life record your wins and your loses, don’t the end of your life record I didn’t try.”

Spiritual Individuals

Just about every successful network marketer I know including myself possesses a certain level of spirituality.

And there it is – a quick list of the type of people I feel are attracted to network marketing.

By the way, I am NOT saying everyone you know that fits these categories will be attracted to network marketing. I’m simply stating most of network marketers I work possess many of what was discussed in this blog.

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Prospecting and Closing Tip 5 – Understanding The 2 Biggest Reasons People Do Not Sign Up With You

June 15th, 2008

Let’s jump right into a new entry on prospecting tips and closing tips (aka sales closing techniques). You probably won’t find this in many (if any) books that include prospecting tips and closing tips (also known as closing techniques), but I am committed to your excellence so let’s shake the trees a little.

Ready? OK…

The 2 biggest reasons people don’t sign up with you are:

  1. They are not ready to start a network marketing business .
  2. You aren’t the leader they are looking for.

If someone is not ready to start a network marketing business, you are probably not going to change that. And you shouldn’t even try.

Some people choose not to grasp the concept of leverage and money working from them. When this happens, they will not commit (such a scary word, huh?) to network marketing (or any business endeavor) long enough to get a lot of money working for them instead of them working for money (aka a job), so they will sell themselves that they cannot do it…

And if your prospect has convinced themselves they can’t do it, they won’t. If this is the case, just let them go, never take it personal, and move on. It’s NOT worth it.

Of course sometimes they just are not ready to commit at the time you speak to them. Perhaps they have a lot going on or they really are in a horrendous financial situation.

The great thing about this reason is you can find out fairly quickly if they are busy savvy when you interview them by asking the right questions.

Now the second reason – you are NOT the leader they are looking for in a network marketing business.

This reason is somewhat controversial.

I seriously doubt your network company would admit this to you. And they probably should not, especially to new distributors…

But I’m not them, and I’m committed to helping you brand yourself and improving your businesses.

If you are not the leader they are looking for, do not despair. Most prospects likely will not tell you this (I personally would), but there are some things you can do to be a better leader and enhance the value you will deliver in the eyes of your prospect.

Here’s a few of them:

  • Develop the proper mindset that will keep you and your businesses bulletproof. I talked about this in here.
  • Treat your business like a business and NOT like a hobby.
  • Always increase your value (develop your personal growth, contribute to social networks and forums, write valuable articles, coach your team, learn Internet Marketing, etc.).
  • Understand your company fully. Understand its compensation plan fully.
  • Visit and participate in professional social networks where there are a lot of professional Network and Internet Marketers collaborating.
  • Ask questions to your prospects instead of pitching your deal or hard selling them.
  • Learn ways to generate leads instead of buying them (prospects love this).
  • Learn some tax advantages to owning and operating a network marketing business.
  • Learn how to sell, market and lead.

Most of your prospects join your opportunity because of YOU, so make yourself the best leader you can be.

In the next prospecting and closing tip, we’ll talk about what type of people are attracted to network marketing.

You may find this rather surprising…

Prospecting and Closing ,

Prospecting and Closing Tip 4 – Finding YOUR RIGHT Person By Asking Great Questions

June 14th, 2008

It’s time to discuss prospecting tips and closing tips (also known as sales closing techniques) that involve the art of asking questions.

You will probably come across this in any book you read that contains effective prospecting tips and closing tips because it works period. By asking the right questions, you can (most of the time) find out if you are talking to someone you would want as a business partner (your right person).

First of all, you need to figure out what type of person you want to enroll. This is CRUCIAL.

Do you want someone committed? Do you want someone that’s funny? It’s up to you, but I always recommend you go a after people who are committed and who can complete a long-term project.

So here’s 6 questions I ask prospects to determine if they fit my criteria for a long-term business partner during the initial interview.

  1. Why are you looking for a business outside of financial reasons (sometimes tough to answer, but I like to find what really is driving them)?
  2. How long have you been looking for a business?
  3. What are you currently doing for income?
  4. What type of income are you looking to generate in your own business?
  5. Can you honestly see yourself making that much money (follow-up to the above question)?
  6. How long do you honestly feel it’ll take to make that much money?

Now it’s important to really listen to their answers after you ask them. Remain in control and if they get out of line with you, take your golden egg away and grab control again. If they are wasting time or if they have no passion, let them go.

NOTE: Never read these questions like a script or like a robot. Continue to build a relationship with the person you’re talking to and ask these questions as part of that relationship building process.

In the next prospecting and closing tip, I am going to reveal to you the 2 biggest reasons people do not get started with you and what you can do to minimize one of them.

Prospecting and Closing

Prospecting and Closing Tip 3 – Enrolling Your RIGHT Person

June 14th, 2008

So let’s move forward with some prospecting tips and closing tips that are somewhat controversial, but effective.

Well here we go…

Do you ever feel like you are talking to a prospect who just keeps making excuses or avoids you all together?

Do you ever wonder what you should say when prospects say ….

1.) I don’t have the money.
2.) I don’t have the time.
3.) I need to think about it.
4.) I need to run it by the spouse or a friend who is just in the same financial boat as me.
5.) I’m not a salesman.

We have all heard these when talking to prospects at some point in our network marketing career.

But does this challenge you? If so, keep reading…

Here’s an epiphany that hit me within a year of network marketing:

Enrolling for the sake of enrolling is NOT the objective.

Enrolling the RIGHT person IS the objective.

So who is the RIGHT person you may wonder?

Well, the RIGHT person is different for everyone, which is one of the greatest things about network marketing that most people don’t take advantage of:

Enrolling ONLY the people you WANT to partner with! You decide the RIGHT person for you, period.

For me, the RIGHT person:

  • has a deep desire to start making money via network marketing
  • understands the power of building a network instead of simply working for one.
  • understands it takes money to make money
  • understands they will need to spend $100 to $1000 a month in training and advertising
  • understands it takes time to learn a business
  • understands it takes a little more time to be successful
  • understands there are absolutely NO guarantees except that their success will be limited only by them!
  • understands residual income
  • does not make up silly excuses and throw out silly objections

Once you figure out who is RIGHT for you, your network marketing career gets easier…much easier.

So here’s my advice: If you are NOT talking to your RIGHT person, let them go!

WHAT?!?!

That’s right – LET THEM GO!

Tell them no. Do it politely, do it with integrity, but tell them no. You can simply say:

I appreciate your time, but you’re not the person I’m looking for. Have a great day.

In fact, you may even want to send them an article or an e-book you have written explaining what network marketing is and tell them that upon completion of that e-book, they may call you up and schedule an appointment with you again once they understand the industry.

At that point, they can ask real questions inside of giving silly objections (excuses).

If my RIGHT person is similar to your RIGHT person, let me take the opportunity to mention two things now to help you…

1.) Find social network and networking forums, get in and look around and see if it’s something you can use to bring value to your business and return that value to other networkers or people looking to get started in our industry. Build rapport with networkers and people looking to learn about our industry.

ALWAYS provide value to them and never just pitch your deal in their face! Most of them do not care about how great your compensation plan is (or even understand it for that matter – chances are you may not even fully understand your compensation plan) or how your product has this special ingredient from the tropical rain forest that allows you to jog to work everyday.

What they care about is what you (and to a lesser extent, your company) can do for them.

Can you help them get what they NEED or WANT? If you can, they will probably lock hands with you and do business together! If not, they won’t. It’s quite simple!

2.) If prospecting is a roadblock for you, I suggest you pick up a copy of Surefire Sponsoring because it will definitely give you a totally different perspective on enrolling people into your network marketing business as long as you are not afraid to tell someone no and let them go. It has some of the best prospecting tips and closing tips (more commonly referred to as sales closing techniques) I have ever read period.

In the next prospecting and closing tip, you’ll learn what questions to askto help you determine if they are your right person or not!

Prospecting and Closing , , ,

Prospecting and Closing Tip 2 – Take Your Golden Egg Away When A Prospect Objects

June 11th, 2008

In the last blog on prospecting tips and closing tips (or closing techniques), you learned about your most important element: mindset. If you missed that one, you need to read it now at:

Prospecting and Closing Tip 1 – YOUR Most Important Element

So with your mindset strong, you absolutely KNOW you have a goose that lays golden eggs. An abundant supply of golden eggs at that!

Knowing this, you send prospects to take a comprehensive look at your network marketing opportunity. When you follow up with them, they will either be excited and enroll in your network marketing business or they will give you an objection such as:

  • I need to think it over.
  • I need to run it by my spouse or friend (or someone in the same financial position as them)
  • I don’t have the money.
  • Etc.

So…what do YOU do?

Most network marketers will try to peddle (beg) the prospect into their network marketing opportunity, which has devastating effects – you’re sending a message to your prospect that says:

  • I need you more than you need me.
  • I’m desperate for a sign-up. Can you help me?
  • Etc.

When that happens, your prospect is going to vanish. They are watching your moves and hearing your words, so if you act desperate, they will think they need to act desperate to sign up people themselves.

Either that or they will know you are NOT the leader they want to partner with.

So when a prospect objects, instead of begging, peddling, hoping and acting like an evangelist about your network marketing company, take your golden egg away.

Your prospect is not expecting this and you have just psychologically disarmed your prospect. Your prospect is now thinking if their petty objections (excuses) are really worth more than your golden egg.

How do you take the egg away?

It’s simple. It’s called the takeaway!

For example, when Joe Prospect tells you, “Well, it looks good, but I don’t think I have the time to do this,” simply reply with this:

You know Joe, you’re probably right and this may not be for you.

After you deliver this line, just sit quietly for a second or two. You just took the possibility of them receiving a golden egg away. If they have no intention of joining you, they probably would have avoided contacting you anyway or you would have disqualified them in the initial interview.

BUT…

If they have some interest and they are just on the fence or scared, they will likely counter with a question when you take your golden egg away. The question they will usually counter with is “what do you mean?” or they will ask another question about you or your network marketing company.

And when this happens, you know what to do, right?

Yeah, you take your golden egg away again. For example, if Joe says “huh” or “What do you mean,” deliver this line:

Listen, Joe, you’ve seen all the information on my company and more importantly, you’ve seen how my leadership and knowledge can assist you with your goals. I have a lot of people to contact and I am looking for those who are really ready to partner with me. At this point, Joe, if you can’t make a firm decision, I’m going to make it for you and unfortunately I am going to have to disqualify you. So, Joe, are you in or out?

Guess what happens next? If they are really serious about making money with you, they’re going to reach back for that golden egg most of the time because most people don’t want to be left out!

A few other points about this tip:

  • The takeaway is one of the most advanced sales closing techniques out there, and you ABSOLUTELY MUST have the proper mindset to execute this effectively.
  • Only use this on prospects you WANT to work with.

Bottom line: You have the goose that lays the golden egg and if your prospect objects, take your golden egg away and make them want it. And remember, mindset is essential for this tip.

In the next tip in this prospecting tips and closing tips series, you will learn if you are enrolling your RIGHT person to work with because despite what your network marketing company tells you, this industry is not for everyone. Stay tuned for this controversial Network and Internet Marketing tip YOU can use…

Prospecting and Closing