Tuesday, December 23, 2008

Dealing with Objections

I have found the three most common objections to being involved with home business revolve around:-

Our industry

The price

Insufficient time.

In any sphere of life, people will have different views to our own. This often occurs because they don’t have a full understanding of the subject and their opinion may be tainted by inaccuracies.

Our business involves education, marketing and training. This can best be accomplished by using a friendly, sincere and honest approach. Our goal is not so much to sell a particular product but to develop lasting relationships. Confrontation is likely to polarize opinion. However, if anyone has real concerns we should acknowledge them as such. A formula used successfully to accomplish this can be remembered with three simple words:

Feel – Felt – Found (or)

See – Saw – Found (or)

Hear – Heard – Found

NB: Whichever of the above you use, depends upon the predominant approach of the person to whom you are speaking and whether they are kinetic, visual or auditory. Use their own terms for most effective communication.

OUR INDUSTRY:

If the objection is to networking or Multi-Level-Marketing (MLM) - confused with pyramid schemes - we might say:

“I know how you Feel. I and people I know have Felt the same until they Found that pyramid schemes are illegal. They can be differentiated from legal marketing enterprises because they pay commission on signing people up rather than promoting a valuable product. Pyramid schemes are heavily, whereas MLMs are an efficient way of marketing that is attracting business people like Warren Buffet and Donald Trump, both of whom embrace, promote and foster the concept.

In using the three-word formula, we have acknowledged their real concerns by saying that other people have had a similar view until they gained more information.

Did you know that Richard Branson became involved in network marketing by developing one of the most successful direct sales companies in the UK?

Did you know that over 100 billion dollars in sales is generated through direct sales?

Or that this industry has created more millionaires than any other industry?

The more we know about our product and industry the better we can deal with objections. If you don’t know the answer to a question, just ask if you can get back to them, while you consult with a colleague or refer them to your web site as most questions are addressed in our FAQs and Company information.

The two other popular objections are the price of the product and that people don’t have enough time to run a business:

PRICE:

With price concerns we must know what makes our product special. Then use the three-word formula: e.g. “I know how you Feel. You’re not alone; a few people Felt that way too, until they Found that…”

(or) “I can See that... and you’re not alone as others Saw that also, but then they Found that…”

(or) “I Hear what you are saying. You’re not alone; others have Heard that too, but then they Found that…”

Spending a couple of dollars a day to boost your bodies defences is money well spent. You can demonstrate that your product works by referring to the science and also mention the many satisfied customers testimonials. Our product has been verified and quantified by science.

TIME:

Some people who say they have no time just don’t want to change their lives. Yes they complain about the cost of fuel and groceries or they tell you of their goals and aspirations yet they won’t at this stage do anything about their situation.

You should try to explain the benefits of the industry but be realistic; you can’t carry them on your journey to make your goals come true. You might say:

‘I know how you Feel (or I hear what you are saying). You’re not alone, a few people Felt that way (have said this) too until they Found that”:-

They could incorporate this business into their everyday lives by handing out business cards and letting the web site and other tools do their job.

Then follow up with a couple of phone calls. Training helps us succeed and this can be done without cutting into your time. You might listen to CD’s while driving or read information while commuting. Many people soon commit to making a better life for themselves and to doing whatever it takes.

Thought Provoking Questions:

Q. How much would you need in the bank to earn just an extra $200 a month @ 5% interest? A. $12,000. An extra $400 p/m would need $24,000, and to earn an extra $1000 p/m would need $54,000 sitting in the bank.

Q. Would that extra income make a difference?

Q. How long at your present salary would it take to have that amount?

Q. (For mature people). If you have difficulty making ends meet now, how would you like to live on the basic pension? Would it affect your lifestyle?

Q. What are your goals? What would you like to be doing in 3 - 5 years from now? Enjoying a well deserved holiday on a tropical beach; enjoying the company of a loved one; or commuting through the traffic to the same old job?

This business might not be for everyone but I truly believe that everyone can benefit from a regular dose the most powerful anti-oxidants.

Monday, October 13, 2008

Network Marketing Millions

Congratulations now you have a million dollar business

Business Presentation

It is so important with any presentation to present a friendly honest face.

Yes smile, even when you are on the phone.

To get yourself in the mood, before you pick up the phone or speak with a prospect, think that you are helping people to achieve financial freedom.

Get in the mind set that you are creating a million dollar business.

You are the CEO and you are looking for your senior managers.

Hang on Peter, I hear some one say…..

Where did you get this million dollar business from?

We have learnt to talk about an extra $500 to a couple of thousand extra a month.

No one will believe that a million dollar business is realistic.

That’s right, start with an amount that can mark a difference in their lives.

Compound Duplication

Early on in your relation ship with a business builder teach them the power of compound duplication.

Either do a napkin presentation or use a white board so they really get it.

Each month we sponsor one person.

In January we sponsor 1 person and teach them to sponsor I person.

By February we have 3 people

We continue to sponsor and teach our distributors to teach their distributors.

Have a look at the compound growth.

January 1

Feb 3

Mar 7

Apr 15

May 31

June 63
July 127
Aug 255

Sep 511

Oct 1023

Nov 2047

Dec 4095

Once you have finished, ask your audience which 6 months bought in the most

New distributors.

The second six months is by far the most productive but that could not have been achieved without the foundations that were laid in the first six months.

Every one can see clearly that persistence pays off.

Now comes the reality check. People often sponsor less qualified people and they give up on their dreams easily.

Lets say that only 1000 distributors remain at the end of the year and that these people buy on average $1000 worth of product per year. (less than $100pm)

1000x1000 equals a million dollar business.

Congratulations now you have a million dollar business

Talented people can sponsor more than one person a month, but as you can see

Building relationships and teaching other is crucial to success.

Also you need to have a quality product and without doubt we have that.