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Showing posts with label Prospecting. Show all posts
Showing posts with label Prospecting. Show all posts

Handling the Pyramid Objection

So many people are afraid of Network Marketing because they just don't understand it. They've been trained by society to think that it's bad or a scam. If you explain to them that all companies are pyramids, they might just "get it". Every corporation is a pyramid in one way or another. The company President makes more than the Vice-President, who makes more than the Manager, who makes more than the Supervisor, who makes more than the work force. Why? Because as you move up the corporate ladder, you have to bring certain things to the table. You have to know what you are doing. You have to be able to get the job done. You have to be able to train those that work for you. And so on. Try explaining the pyramid objections with the steps below and see what happens.

Step 1:
When a pyramid objection comes up, ask your prospect to think about a typical business where there is a sales rep and a sales manager. Like car sales, or insurance sales. Draw a picture showing only one sales manager (make him the color blue) with sales reps working for him. Make sure you make the statement, “The manager is only valuable to the sales reps if they have experience selling what they’re asking the sales reps to sell.” Then ask, “Does this make sense to you?” Or “Do you agree with this?” It’s very important to get them involved in this discussion.

Step 2:
Once they are involved with the discussion, I normally probe a little with “Does the sales manager normally make a little more money than the sales reps?” Which most people will answer “yes”. I then ask, “Is what I’ve just drawn a pyramid because sales reps work under a sales manager? Is it a pyramid because the sales manager makes a commission off what the sales reps sell?” This is where the discussion normally opens up. Try to keep them on just answering what has been discussed up to this point. Meaning, if they try to take it further and ask or say something else, reply with, “We’ll get to that…right now just tell me if this is a pyramid.” After that is settled, then move on.

Step 3:
Ask them, “What happens when there are more sales reps than the manager can handle?” What you’re leading them to answer is, “The company needs to hire another sales manager.” Then you can say, “Good! Where can the company get this new sales manager from?” You are trying to guide the prospect to see that either the company can hire a new person from Monster(dot)com (or wherever) or they can take one of the existing sales reps and make them a manager.

Guide them towards seeing that the better way would be to take an existing sales rep and make them a manager because they are already knowledgeable on how to sell that product. If they were to hire a new person they would have to educate that person on the products and the way the company operates. But, that new person wouldn’t have the respect of the sales force because “He’s never done it!”

But if they take an existing sales rep and make him a manager - he would know the product, know the way the business and company operates and would have the respect of the sales reps. But regardless of which place the company chooses to get this new manager, you’ve now added a new manager. Now draw another manager (beside and to the right of the first manager -- the blue guy in Step 1) with sales reps below him.

Step 4:
Then ask, “This is the way that most companies grow their sales force. Does this make sense?” Get their agreement. Then label the top of the picture “Multi-Width-Marketing.” Then say, “Multi means more than one. Width means that it grows laterally and marketing means that they are all marketing the product. Make sense? Any questions on this?”

Once all of this is settled in their mind - then move forward. DO NOT MOVE FORWARD UNTIL THEY UNDERSTAND UP TO THIS POINT. There can not be any confusion AT ALL.

Step 5:
Then say, “Let’s just take the same picture and draw it a little differently”. Circle the man in blue and his sales reps and say, “I’m going to draw this sales manager again.” Draw it on your paper. Then say, “Instead of hiring a new manager from Monster(dot)com we’re going to take a person who already knows the product, the company and the business and make them our new sales manager. Since it will be one of these sales reps, I’m just going to keep the drawing the same by drawing a new sales rep under them.”

You don’t need to draw 3 levels to make the point. So just draw two levels to begin with. Then, label level 1 and level 2. Then write at the top “Multi-level Marketing and say, “Multi meaning more than one, level meaning growing vertically and marketing meaning that everyone is marketing the product." This should give you the basics of how to handle this objection once and for all.

Remember, the sales rep should make a bigger commission than the sales manager on each individual sale. Explain this to your prospect. Maybe your company pays a 35% commission on all sales made by the sales rep... which lets your prospect know that they are making a pretty good commission on every sale.... but the manager would make only 4% of that, or maybe just 4% of the difference between the retail price and the 35%. This lets your prospect see that even though someone else is making money from the efforts of their sales, they will see that this amount is very small compared to what they are making. Good "managers" should be holding training calls and role playing sessions, crafting presentations for their downlines to send their prospects to, and holding meetings to announce company news and product offerings. They should also be actively trying to sell the products or services that their organization provides.

Overcoming Prospect Objections

When you talk to prospects about your products and opportunity do you notice that some people just won't get started even when you answer all of their so-called objections?

These people are the skeptics and no amount of talking and arguing with them will ever get them started. So how do you overcome someone's skepticism?

Excellent question and the answer to that question is: you don't. Yep, you read right. You actually don't say anything to overcome their objection. What you do do though, is get them testimonies from other people about your product or testimonies about the company and opportunity from others who are involved with it.

Now when you are talking to someone who is interested in getting started with you and joining your team but are hesitant and reserved about jumping right in and getting started right away. What you need to do is provide your prospect with some third party validation about the company and opportunity because nothing that you can say will overcome their skepticism.

This is why gathering testimonials from your customers, and fellow team members is so crucial.

The reason testimonials are so important is because it shows your prospect that other people who aren't trying to "sell" them something have taken the "chance" and have tried your products or gotten involved with your opportunity. This gives your prospect peace of mind in knowing that they aren't the only ones trying and/or doing this, and that others have been there, but most importantly have had positive experiences.

The Five Components That Must Exist To Generate A Mind Blowing 6 Figure Monthly Income

These components are not optional:

1. To effectively position yourself you must become the expert. Now, I don’t just mean that you need to study your products and comp plan, but you also have to be an expert in understanding your audience. What are their needs, wants and desires? What will motivate them to get involved with your business? What solutions (for their problems) can you provide for them? Who is your target audience? If you’re marketing health and wellness, why would you be pitching a 22-year-old college student? Even if he/she did sign up, they’ll be dropping in a few short months because they never had an attachment to the product. Look at the biggest business builders in your company. They’re emotionally attached to the product. They used it and saw results. That’s how it should be! Be conscious of who your ideal target market happens to be. This will provide you with a better understanding of how you can best get exposed to them.

2. Use techniques that will enable you to get exposure of your products and services to the masses! Why is it that conference lines for sales calls have really just taken off over the past year or 2? We’ve used them for years. They should be a requirement for any business owner. They’re cheap. And more importantly, when used correctly, you can get yourself in front of a lot of people that truly have a want, need and desire for what you possess.

3. Phone mastery. If you’re looking to grow a business to heights you can’t even imagine the phone must be your friend. One of your best friends. Can you imagine speaking with prospects that have already displayed a want and desire for your products every single day? This is a crucial element that’s required for success. When you have prospects that WANT to speak with you and have already displayed an interest in what you have, growing a business becomes child’s play. How many people per day do you think would join you in business if you were just speaking with 10 prospects a day that needed or desired something you have? Let’s assume only 2 of those people. That’s 10 new associates per week into your business! Now, it’s starting to come together and we haven’t even shared the other 2 explosive goodies with you yet.

4. Internet mastery. The Internet is an explosive tool. It’s absolutely incredible, but just like any other tool you have in your garage, one must know how to properly use it. Having a website just isn’t enough. You need to know what to have on it, where to put what and how to tap into the mind of your prospect. Furthermore, one must know how to get targeted visitors to the website that already want and need what you have. Once this is mastered, this tool becomes so powerful words can’t depict. The Internet is one of the main components that have allowed us to generate millions and millions of dollars in a very short time span.

5. Mastery of the written word. How would you like to enroll associates into your business without ever speaking with them? What if you could write a sales letter from top to bottom that put people into your business whether you were sleeping or golfing? Would that have a dramatic impact on your business? Absolutely. This is such an explosive tool that we’ve learned to master over the years it’s actually frightening. There are some companies where all they do is send sales letters pitching various products that generate hundreds of millions of dollars every single year. What would it be like to log into your administration area in the morning to see that your business grew by 7 people while you were sleeping? By mastering the written word and using copy to create salivating messages you too can grow a million dollar business inside of 12 months.

Visit this site to learn more: http://www.explosivemlm.com/8WaysLR.htm

Top 8 List Of Business Building Techniques Being Taught That Flat Out – Do Not Work…

1. Building a list of your friends and family. You know…your warm market. Companies love teaching you this. Why? If they have 100,000 associates and everyone builds a “list” the company is growing! What did this do for your business? OK…maybe you added one or 2 associates and got yourself a whopping check for $3.84. This method, mathematically speaking, is terribly inefficient.

2. Passing out business cards, brochures, audios and DVD’s. Does this technique sound familiar? Companies love it! They make money all over the place. Every time you purchase one of their “promotional” products they’re making money and guess what…when the one in 100 cd’s that you handed out turns into a new associate their business just grew. Again, for them it’s about numbers. If they have a huge associate base even if the conversion rate is only 1% they’re still growing and better yet, they’re making money off you every single time you run out of “promotional” items and have to purchase more. Not a bad situation for them now is it?

3. 3-way calling. This has got to be one of the most counter productive methods to grow a business that exists. One of the biggest things that’s critical in growing a business is that you need to be the expert. Not your upline or the “triple platinum” that’s 3 levels above you. YOU need to be an expert. Why would you let someone else fill that role for you?

4. Hotel meetings and driving all over town. Doesn’t this defeat the purpose of having a “home based business”? I can’t tell you how many people that we consult with that are constantly driving all over town picking up meal tabs for this “prospect that’s about to come a new associate”. Uh huh. If we had a dime for every time we heard “I’m gonna bring this one in during lunch” we’d be rolling in deep, thick piles of cash.

5. The Product sales itself! I love this one. If the product truly sold itself why would the company need you? Do you think they would have resorted to network marketing as a business model and form of distribution to get their products in the hands of the masses? Fat chance. They would have opened up retail stores all over the country. They wouldn’t have a need for you. I’ll be blunt. Products don’t sell themselves. They need advertising and promotion. Look at every commercial on T.V.; radio, newspaper ads, etc are those products selling themselves. If so, why’d they spend big bucks to purchase airtime or ad space? Big myth. Please, for the sake of your wallet, don’t fall into this trap. Products don’t sell themselves. Companies know this, but it sounds so good when they make those types of statements that they can’t refrain from telling us things like that.

6. The ‘ol 3 who get 3 who get 3 and you’re filthy, stinkin’ rich. I’m sure you’ve heard of this one. All you have to do is get 3 and then help those 3 get three and get those people 3 and POOF…your checking account explodes and you’re making a nice tidy 6 figure annual income. This one almost makes me chuckle out loud. This mythical, completely unrealistic way of growing a business flat out, does not work. We have yet to see one single person (out of over 4,000 students) that has used this approach and found the success they were seeking. It just doesn’t happen.

7. All you have to do is put up a website, share it with your neighbors (or put it on your business card) and you’re well on your way to a nice, sizeable income. This couldn’t be further from the truth. If you’ve done any type of marketing you’ve quickly realized that this isn’t the way to get the job done. Not even close. There truly is an art and science to how the site should be constructed, what to have on it and getting targeted visitors to your site that truly have a need and desire for what you’re marketing. Just having a website means absolutely nothing. It’s a tool that must be used properly and the vast majority of marketers have not been skilled on how to use it appropriately.

8. Holding home parties will make you rich! How many leaders do you know that are making in excess of a quarter million a year that are holding house parties? This is a technique that can and does work if you’re looking to grow your business at a snail’s pace and you’re on the 40-year game plan to start making the “big bucks”. If you’re on a different plan, you need a faster and much more efficient way of making this happen. Home parties just won’t cut it. There are other ways of making it happen that is a whole lot easier and you don’t have to have strangers in your home every week either!

Visit http://www.explosivemlm.com/8WaysLR.htm to Find Out How to Finally Succeed in Network Marketing!

Prospecting 101

Prospecting ....it’s the only way to build a successful home-based business. And the better you are at prospecting – the more money you’re going to make!

Becoming a master prospector takes knowledge, confidence and time. But why wait...especially when you don’t have to!

We can accelerate the process and help you become a prospecting wizard quicker than you ever thought possible!

We can help you learn the techniques the top money-makers use. The very same techniques that will help you make more money!

With our industry-best live training 5 days a week...you have the opportunity to learn something different from all of our hosts...turning you into an prospecting all-star!

How to Sell an Expensive Product

Every product or service is too expensive until the price is justified. To justify means to demonstrate sufficient reason for (an action).

If you were to simplify what your job really is in selling your company's product or service, it would be that you are justifying the product/service's price. If you fail at justifying the price,your prospect walks away. If you succeed at justifying the price,your prospect buys the product.

The process of justifying the price of a product or service is to demonstrate or give reasons that the prospect will benefit from using or owning the product or service. This only works if the reasons are valuable to the prospect!

And how could you possibly know if the justifications you're giving to the prospect are valuable to them? You can guess...or you could ask them "Why would you want _______?" Thus, inviting them to tell you why they think they may want to take supplements/vitamins.

A simplified version of inviting your prospect is: Greet the prospect, find out what they need or want, invite them to look at something that will help them get what they need or want.

As an example, let's suppose I sell supplements that cost $129 per month. Everyone knows you can buy supplements at the drug store for $10 a month. So I would have to justify an extra $119 expense - if I do they will buy the product - if I don't they will buy an inferior product.

So, after greeting the prospect I would ask them why they would want supplements. NOTE: This is just one example; I'm sure you're wondering how I get into the discussion of supplements in the first place. Anyway... for the sake of an example that's what I'm using....

In my conversation with the prospect I ask them why they take supplements - they respond, "Because I don't eat very healthy."With that statement I could now do whatever type of justification I wanted as long as I keep coming back to "because I don't eat very healthy." Why? Because that's what is valuable to the prospect.

I could explain the importance of the pills dissolving so the prospect actually gets the nutrients. I could take some of those $10 supplements and drive them into a board with a hammer to demonstrate the difference in tablets and capsules - I could do and say many different things but they (the statements and demonstrations) must help the prospect with, "because I don't eat very healthy." That's the only way you will justify the prospect paying for the extra value.

Many people take supplements for the very reason I used above ("because I don't eat very healthy"). There is no chance the person would get one dime's worth of value from using supplements that don't dissolve. Think about it.

The above example is just one - but don't get lost in the example and miss the point. The point is - you are in the justification of price business. You don't start justifying your price until you know why they would even want your product or service.

Lana Robinson
Home Business Repair Consultant
205-919-9561
lanadtm@gmail.com
http://www.growmymlmtoday.com/

Prospecting

Have ever tried to think hard about how to find people who are interested in your business or product? This is fundamental to your business.

So lets start off with a question. Who would you rather talk to about your product or service?


1. Your friends and family (*shudder* I personally don't like option 1)

2. A complete stranger who by pure bad luck (for them) happens to be stood within arms reach of you in the supermarket, or street.

3. Someone who has already demonstrated their interest in your product or service?

Personally I'd always take option 3. You see both options 1 and 2 are way too difficult. So that brings us to a question of how to find these people. I mean it would be really nice if they walked down the street with a sign or a balloon that said "I'm interested". But unfortunately they don't.

So where do we start? Well actually it isn't where you think. Step 1 is about thinking who your prospect is. This is far more detailed than you might initially think. Grab a pen and paper, and we'll do this together.

OK, for this purpose I'm going to use a Health product as an example. Lets say that this product is really generic and the main claim is that it helps the body to heal itself.

So who exactly is our prospect?

Normally, I'd take you through this step by step, but space is limited. So I'd target this campaign's prospect as someone aged 40-55, who has recently bought a health, weight loss or similar product, who has bought a product with a credit card and who has a household income above $50K. Would that be a good prospect? You bet, and they're available in the thousands and cost less than a cent if you know how!

Lana Robinson
Home Business Repair Consultant
205-919-9561
lanadtm@gmail.com
http://www.growmymlmtoday.com/

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