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Blow The "Scam" Objection Out Of The Water I keep getting the objection, "Network Marketing is a scam because only a few people at the top who get in at the beginning are making most of the money off the people who come in later." How do I handle this objection? I don't think I'm very good at answering this because when I look at my company - that's exactly what I see. Help!
This is a great question, here is the way I handle this objection.
First, every time you handle an objection you must follow the Objection Handling Remedy as outlined in Professional Inviter. - Listen completely through the question/objection.
- Confirm understanding.
- Make the question or objection valid to the prospect.
- Handle or facilitate handling Questions and/or Objections.
- Complete the handling and return to the previous step of the Inviting formula.
In step #4 of the Objection Handling Remedy is where you handle or facilitate handling the objection. It's best to handle the objection by comparing it to something the person knows. Engage the prospect to contribute to the conversation as much as possible - remember: If you say it, it can be argued, if the prospect says it, IT MUST BE TRUE.
If I don't know enough about the person, I'll explain the "all the money is made at the top" objection compared to the stock market and the real estate market - but will make sure I explain everything in detail just in case they don't know about either industry. Here's my explanation:
Let's say you bought a stock for $1.00 ten years ago. Today it's worth $20. Are you making more money because you got in at the beginning? Yes you are. Every person who buys the stock after you is driving the share price up; this is actually THE ONLY WAY YOU MAKE A PROFIT. When you do sell your shares of stock - who are you selling them to? You're selling them to someone who is going to pay more for it than you paid. You got in early and are making money off the people who come into the "scheme" later.
Let's say you bought a beachfront house 20 years ago for $100,000 and that it's worth $5,000,000 today. Are you making more money because you got in at the beginning? Yes you are. Every person who bought real estate in that area after you did drove up the cost of your property. When you sell your real estate, who do you sell it to? Someone who comes into the "scheme" later. So the profit you make is from people who come in later.
The truth is - in real estate and the stock market people who get in earlier do make more money because they got in at the beginning (if the stock and real estate market go up of course).
Also true is - in network marketing people who get in earlier can (notice the difference between "can" and "do" from previous paragraph) make more money.
There are many people who come into network marketing who make more money than the people above them. This is the case in my downline. There are 3 people in my downline who make more money than me.
So, to directly answer your question - every business in the world operates as this objection states...except network marketing! For an investment to be an investment, requires that someone has to come along later and pay more for it; otherwise it's not an investment.
When a person buys a pair of shoes, they're buying them from someone who got in earlier - therefore making the people who own the shoe company rich!
A person who buys a painting is buying it from someone who bought the painting earlier - therefore making them rich!
When you go to work for someone, you're going to work for someone who got in earlier and they're getting rich off of you!
Isn't it odd that the entire business world operates under the principle of getting in early and making money off the people who come in later… yet the network marketing industry is often shunned for it! Yet, network marketing can point to thousands of people who make more money than the people who brought them into the business.
Network marketing...when done right and ethically is the fairest business on the planet - build your business with enthusiasm!!
Much respect, Tim Sales
About Tim: In 1989, near the end of an 11-year tour with the US Navy Underwater Bomb Squad Team, Tim answered an ad in the Washington Post newspaper that led him to his first and only network marketing company. Five years later his network marketing income rose to over $150,000 per month with over 56,000 people in his organization. His most noted contribution to the Network Marketing Industry is the Brilliant Compensation presentation. In addition, Tim is a teacher at the university-affiliated Network Marketing Certificate Seminar sponsored by the University of Illinois at Chicago . To learn more about Tim visit his website at BrilliantExchange.com
Is M.L.M Really a Pyramid Scheme?
First, what's a pyramid scheme? Why do people "run for the hills" at the first indication of a pyramid scheme? If you really knew exactly what a pyramid scheme was, would it be easier to handle this objection from prospects?
To answer this so you really understand it, I need to take you back to the origin of the pyramid scheme. No, it didn't start at the pyramids of Egypt in 2650 BC but it's a very interesting story. The first famous pyramid scheme where money was the focus occurred in the early eighteenth century in France. What you're about to read goes down as one of the greatest deceptions of all times.
Near the end of King Louis' XIV reign (1643 to 1715) the economy of France was on a steep decline. The country was 3 billion livres (the currency at the time) in debt. There was a debate whether the government should just declare bankruptcy and start from scratch, but the politicians of the time feared revolution and looked instead for a more expedient solution.
Their first attempt to remedy the problem was to devalue the currency through recoinage (making new coins). New coins were issued weighing 20% less than the old coin, but with the same face value, and the public was ordered by law to make the exchange. So, if the government "shaved off" 20% of every coin they could create enough gold to pay off their national debt.
But the people of France weren't that dumb. They didn't want to hand their full valued coin to the government and be handed back one that weighed less, therefore worth less. This greatly discredited the government of France and threw the economy into greater economic depression.
After King Louis' XIV death, the Regent (temporary ruler) and a Scotsman friend named John Law came up with a new idea to pay off the national debt. John Law, whose father was a banker, understood money and how banks worked. Together they devised a masterful plan (scheme) whereby they could pay off the national debt.
First, the Regent (temporary ruler) of France authorized John Law to establish a central bank, under the name of Law and Company. (A central bank is a nation's principal monetary authority. In the USA it's called Federal Reserve Bank. In the UK it's called the Bank of England.)
Second, the Regent authorized Law's bank to issue bank notes (paper money) INSTEAD of real gold and silver coins and put into law that the paper money would be accepted for the payment of taxes. This would in effect give the bank and it's "paper money" credibility.
Third, John Law knew that he had to establish public confidence in this bank's notes (paper money) for the entire scheme to work. He immediately announced that all notes from his bank were payable in coin. Meaning, if anyone received his paper money, they could walk into the Law and Company bank and exchange it for real gold or silver coins. This gave the appearance that the paper money was the same value of the gold coin! This was perhaps the greatest deception of the 18th century.
Because of the discomfort of carrying coins around in their pocket, people preferred to carry the paper currency. Therefore, the public would deposit their gold and silver into the bank in exchange for a piece of paper. Just as today - people put their coins in a jar because the coins are too heavy to carry around. Once the jar gets full, they take it to the bank (or grocery store) and cash it in for paper money.
The entire scheme required people to believe in the credibility of Law's bank and his ability to redeem his notes in coins. Once that belief was established, the paper money was literally "as good as gold."
As more and more people cashed in their gold in exchange for paper, the banks vault filled with gold.
Now I need to explain how banking began in order to complete this explanation.
In the early days, there was no such thing as credit. If you wanted to buy something, you carried the coins (gold and silver) to the store and paid in coin. A person didn't want to have their coins in their home or on their person when traveling for fear of being robbed. So they would keep their coins in a bank's vault. As more and more people put their coins in banks, the banks vault would fill up.
Banks recognized that at no time did EVERYONE pull ALL their gold out of the bank [at the same time]. So the banks started "loaning" out someone else's gold for short periods of time. This was the birth of "credit & loans."
John Law learned of "credit & loans" working in his father's bank. Now, for the first time we have "credit" as a financial tool.
This is where the pyramid formation begins to take place. Because of my divergence into banking and credit, let me recap to ensure you're still following all of this...
We have the country of France wanting to pay its debt by simply "changing the weight of the coins." We have a gentleman with banking experience who knew that if they filled the vaults with gold then they could make loans to the public because the probability of everyone asking the bank for their gold at the same time was really low. He established a central bank that was supported by the government and which allowed people to pay their taxes with this bank's paper money.
The scheme worked... for a while. The Law and Company's bank received enormous sums of gold to put in their vault. Now, with all that gold in their vault they could loan some of it out... but they would loan it out with paper money instead of actual coins. This was the magician's act. The real product (gold and silver) vanished and the fake product "paper money" was now in the spot light.
--RIGHT HERE IS THE POINT THAT THIS BECAME A PYRAMID SCHEME--
The Regent made Law's bank a publicly traded company declaring it the Royal Bank of France. Now people could buy stock in the government's bank as well as receiving credit in the form of loans from the bank. Over the course of a few years, the bank issued over one billion livres in paper currency to the public.
Keep in mind that all of these paper loans and paper stock were based upon the "product" of gold and silver coins in the vaults. You see, once the magician got you to believe that the paper was as good as gold - he didn't need to show you the gold any more.
Businesses went crazy trying to get this "free" money (loans). Businesses began to grow very rapidly and they started selling their goods and services to foreign consumers as well as setting up businesses in foreign countries. Slowly but surely, the gold and silver that backed this paper money began to drain out of France and into foreign countries. People in India didn't want to receive a piece of paper from France because they couldn't cash it at their bank in India - so they required payment in real gold and silver coins.
The people of France began to suspect that with all the currency being loaned out, surely there wasn't enough gold and silver in the bank vaults to back up all the currency that had been loaned out and sold as stock. They quietly began converting paper to coins and transporting the coins to foreign banks.
By 1720 the scarcity of coin began to increase. The vaults, once filled with gold and silver were becoming empty, but the paper money was still being loaned out. In an effort to stop people from converting their paper money into gold and silver coins, the government depreciated the coin to 10% below the paper, and the bank would limit the amount of coins any one person could receive. The limit was 100 livres in gold and 10 livres in silver. So now the government was claiming that gold and silver was worth less than the paper!
In February of 1720 John Law made a fatal error. At his suggestion to the Regent, a decree was issued forbidding anyone to hold more than 500 livres in coin, and also prohibiting people from buying up precious stones, jewelry, silver settings, and so forth, under penalty of a heavy fine and confiscation of the holdings. The government was trying to stop the public from buying up the gold that the government needed to control in order to keep the bank legitimate. This enraged the public.
In May of 1720 the bank was out of gold and silver in the vaults and was forced to stop making payments in coin and the bubble burst, and the pyramid tumbled.
John Law, once a national hero became the scapegoat for the entire problem. The government of France blamed him for the whole debacle and he was nearly murdered by angry crowds.
To prevent this from happening again and elsewhere, the policy became - there has to be a "product" backing the currency.
Most countries adopted gold as the standard "product" or backing of their currency. Meaning, every bank had to have a vault of gold to back their currency.
However, today all well established currencies (US Dollar, Pound, Yen, etc.) have NO PRODUCT that backs their currency. It's all "belief." The governments can simply "create more money out of thin air" just by simply printing more.
Oops. Uh, I think I'll just leave that alone and save further comments for the conference call :)
You do not want to miss the upcoming conference call on Tuesday, November 21!
In conclusion, you now understand how the perception of pyramids began. You can also understand why people run from pyramid schemes.
But you can also see why M.L.M is not a pyramid... but could be. And as you just read, any organization - government included - could be operating as a pyramid scheme. In other words, a pyramid scheme is NOT a method of doing business such as network marketing, but the detachment from a real product that makes it a pyramid scheme.
Much Respect and Admiration,
Tim Sales
About Tim: In 1989, near the end of an 11-year tour with the US Navy Underwater Bomb Squad Team, Tim answered an ad in the Washington Post newspaper that led him to his first and only network marketing company. Five years later his network marketing income rose to over $150,000 per month with over 56,000 people in his organization. His most noted contribution to the Network Marketing Industry is the Brilliant Compensation presentation. In addition, Tim is a teacher at the university-affiliated Network Marketing Certificate Seminar sponsored by the University of Illinois at Chicago . To learn more about Tim visit his website at BrilliantExchange.com
5 Easy Ways To Increase Your Confidence And Credibility
by Tim Sales
Bonnie sent this great question to me:
A problem I face is: A feeling that prospects do not perceive me as credible or believable. Perhaps it's only my "reading" of their thoughts, but it's the feeling I get from their reaction or response.
Thank you for sending this question to me. I'm going to answer this in two parts.
- Doubting yourself
- How to increase your credibility
Doubting yourself
Throughout my life I have had many feelings similar to this one. Looking back I'm not sure if the person I was talking with really gave that "feeling" to me or if I was the one who gave it to myself because I didn't feel like I had enough credibility to be talking to this person. Think about that for a few seconds...or a few minutes!
How can someone reach inside your head and make you feel [anything]?
I don't think there's a "no credibility" switch inside your head or mine that a person can reach in and flip.
What I'm trying to do is help you to see that this question mostly has to do with how you view yourself. Or how you allow others to influence the way you view yourself.
If you think about it, no one can MAKE you feel mad or angry or guilty or not credible - YOU are the only one who can accomplish that; even if someone says it to you.
Let's suppose you're a female and someone says to you, "You are a guy." You would just look at them strangely and continue what you're doing. You KNOW you're not a guy. But if someone says something to you that you have already thought of - then you're more likely to "allow" them to influence the way you see yourself. Like, "You've put on some weight." But in reality, the two comments don't have to affect you differently.
Here's the way it worked for me and how I solved it. I used to have this thought that because I didn't get a college degree, I wasn't credible and that no one would listen to me. This wasn't true - it was just in my thoughts. At a social gathering I would meet someone and they would ask, "Where did you go to school?" I would reply, "Hixson High School." They would then say, "No, what college?" I would reply, "I didn't go to college." To that they would say, "Oh."
I would walk away feeling like I had no credibility with them. And, perhaps I didn't. But the real damage was when I didn't talk to people simply because I thought I didn't have the right to talk to someone because I didn't go to college! That's enormous damage.
Here's how I worked it out in my head - Now, what's the "truth?" Is there anyone who has ever been successful in life that didn't go to college? YES!
People go to college so they can be more knowledgeable on a subject so they can get better results. So it's results that matter. But I used to think [incorrectly] that college equaled better results. Perhaps if I was trying to be successful as a doctor it would matter - but in network marketing it did not.
So, I just dumped the idea that I needed a college degree to be successful because just having that thought would actually STOP ME FROM BEING SUCCESSFUL!
Talk about irony!
How to increase your credibility
I knew the ONLY way I was going to gain the respect of others (college graduates or not) was to get results. So number one I had to not stop myself no matter what anyone said to me or what I said to myself. I had to just keep on until I got results. Here's what I did and what you should do if you want to increase your credibility:
1. Talk with people - no one can be successful without this step.
2. Help people and allow others to help you.
- When someone helps you, give back something of equal or greater value.
- When you help someone, allow them to help you back.
3. Be trustworthy.
- Do what you say you will do.
4. Increase your knowledge
- The more knowledge you have in the area you are advising or suggesting about, the more influence you will have. So know network marketing. Know your product/service. Know your company.
5. Increase your results (doing the above will accomplish this)
- The more results you've gotten in the area you are discussing or attempting to attract another into, the more influence you will have. This is not a requirement obviously because everyone in network marketing starts with zero results.
Bottom line: If you sense someone isn't giving you any credibility - move on and do not allow them to weaken your view of yourself. If your prospect needs credibility in order to listen to you then you can contact them after you've gotten results.
A person who is unable to evaluate a business has to judge the business based on their perception of the credibility of the person presenting it. Those who can not evaluate a business based on its merits will work for those who can, or miss out on a lot of money.
Tim Sales About Tim: In 1989, near the end of an 11-year tour with the US Navy Underwater Bomb Squad Team, Tim answered an ad in the Washington Post newspaper that led him to his first and only network marketing company. Five years later his network marketing income rose to over $150,000 per month with over 56,000 people in his organization. His most noted contribution to the Network Marketing Industry is the Brilliant Compensation presentation. In addition, Tim is a teacher at the university-affiliated Network Marketing Certificate Seminar sponsored by the University of Illinois at Chicago . To learn more about Tim visit his website at BrilliantExchange.com
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Hot Prospecting Phone Tip #10: Are You Observing What's Going On?
by Tim Sales
The definition of the word observe is: To be or become aware of, especially through careful and directed attention; notice.
Now observing what's going on doesn't just apply to being on the phone - it also applies to when you're in front of the person or if you speak to groups of people, observing the people in the audience.
Observing what's going on with your prospect involves "taking notice" of what's going on with them, not just "seeing" it. How do they react to what you're saying or doing or showing them? What are they doing while you're saying something to them? What can these observations tell you?
Let's say that you're talking to someone and you hear a baby crying or making noise in the background. Now, you know they're probably distracted by that. So, simply say, "Is that your baby I hear?" When they say yes, perhaps they even apologize for the noise.
Say, "Boy or girl? What's his/her name?" Then ask, "Do you need to put the phone down and handle anything?" This will do more for establishing a good relationship than just about anything else you can say or do.
If you think about it, this is keeping right in line with the theme of being interested in the prospect and having the intention to make their life better.
Often times, a networker is so focused on presenting their opportunity or selling their product/service that they don't actually observe what's going on around them.
I remember when I first got into the business I was doing a product demonstration and the prospect had three kids who were very interested in me and what I was selling. Interested in dumping the product all over the couch and all over me would be a better visual of what they were interested in.
What I really failed to observe was the children. Sure I saw them; who couldn't! But I didn't observe them per the definition I used above. If I had observed "through careful and directed attention" - I would have seen that the key to the prospect was through the children. The children were paying all this attention to me; I could have talked about and demonstrated the children's line of products!
Very often I record my conversations with prospects (you probably already know that because of the live calls you've heard on Professional Inviter) and after I'm off the phone I replay the recording and the funny thing is that I can always pick up things on the recording that I didn't pick up on during the call! After doing this several times it heightened my powers of observation.
Tim Sales
About Tim: In 1989, near the end of an 11-year tour with the US Navy Underwater Bomb Squad Team, Tim answered an ad in the Washington Post newspaper that led him to his first and only network marketing company. Five years later his network marketing income rose to over $150,000 per month with over 56,000 people in his organization. His most noted contribution to the Network Marketing Industry is the Brilliant Compensation presentation. In addition, Tim is a teacher at the university-affiliated Network Marketing Certificate Seminar sponsored by the University of Illinois at Chicago . To learn more about Tim visit his website at BrilliantExchange.com
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Great Question Answered: When Do You Tell Them It's M.L.M?
by Tim Sales
Here's a great question I received from an unknown person:
"Hello Tim, I have been struggling with this issue for the last few months. Essentially, all of my leaders as well as my friends do not want any of us to "reveal" that this is network marketing. I have followed the "system" that has been taught to our group, hammered into our heads, that we are not to give any indication that this is network marketing. We're supposed to let the prospect figure it out for themselves or use convenient metaphors to indicate that it's M.L.M. I think this is dishonest.
I have gotten a number of people onto our conference call and somewhere along the way, they will hang up. They totally disappear and will never return a call or email. At this point, I feel really discouraged because I feel my integrity has bitten the dust in their eyes. This means a lot to me after building great rapport with the prospect. Here's a big issue for me: a leader told me that it's okay if they hang up, that means they're not interested. (Well, thanks, I did manage to figure that one out.)
I listened to your Professional Inviter series and loved it and you did cover that aspect but I didn't hear enough. At what point in your call and how do you let them know that it's network marketing?"
Thank you very much for your question - I can certainly tell that this is upsetting you.
I can understand both your view of it as well as your upline's view. Hopefully when I'm done answering this question both you and your upline will see "when is the right time to bring up network marketing?"
In essence, Professional Inviter is about how to correctly (for the prospect) bring up network marketing. So when is it the "right time" for your prospect to hear that it's network marketing?
You let your prospect tell you that!
How? Let me show you...
As you know, the Inviting Formula is:
Greet your prospect and get them to talk freely to you, and then;
Qualify your prospect and find out what they need or want (that you can help them get), and then;
Invite your prospect to review something that will help them get what they want.
The Inviting formula has additional steps but this is far enough to point some things out.
During the greeting, would it be the right time to tell them that it's network marketing? No. Getting them to talk freely to you has nothing to do with network marketing.
During the Qualify step, would it be the right time to tell them that it's network marketing? No. You're trying to find out what they need or want.
Inviting them to look at something that can help them get what they want is the best time to tell them it's network marketing. However, are you the best person to tell them it's network marketing? Or is a Harvard educated professor of marketing (Professor Charles King) the best person to tell them it's network marketing?
My feeling is - and my experience says - that it's far better to have Brilliant Compensation (online or DVD) "tell" them it's network marketing and explain how it works and handle most of the known objections.
So that answers WHO should tell them.
How about WHEN is the best TIME to tell them it's network marketing? When it is the answer to what they've said they need or want (the qualify step from above). Or, when/if THEY ASK YOU if it is network marketing.
Do not hide from this question and do not evade the question once asked. Once asked, follow July's newsletter on how to convince people that your business is real.
Alright, let me summarize this answer for you.
1. The best time to tell them it's network marketing is when it's a solution to their need or want - not before; or, if they ask if it's M.L.M - then answer them as explained in July's newsletter.
2. It's best to have someone with high credibility explain to them that it's M.L.M and how it works.
3. Never avoid or conceal it - but don't deliver it until they need that information.
Imagine a guy picks up a girl for their first date. The girl meets the guy at the door and she says, "Alright, I want to get married, have 3 kids and I want you to provide enough financial resources that I don't have to have a job for us to survive with kids. That is if I decide you're what I want. Shall we go to dinner now?"
Wouldn't it be better for her to decide "if he's what she wants" before she tells him all that?
Sometimes, it's never the right time to tell your prospect that it's M.L.M - because they didn't qualify.
Sometimes, the best time to tell them is when they've asked, "is this M.L.M?"
Most of the time, the best time to tell them it's M.L.M is when they need a solution to a problem they have.
Problem: "I just hate dropping my kids off at daycare!"
Solution: "I know what you mean. I want to send you a video that will explain how you won't have to drop off your kids at daycare anymore. What's your address?"
That is the best time and way to bring up network marketing to your prospect.
I hope I've clarified this issue for you,
Tim Sales
About Tim: In 1989, near the end of an 11-year tour with the US Navy Underwater Bomb Squad Team, Tim answered an ad in the Washington Post newspaper that led him to his first and only network marketing company. Five years later his network marketing income rose to over $150,000 per month with over 56,000 people in his organization. His most noted contribution to the Network Marketing Industry is the Brilliant Compensation presentation. In addition, Tim is a teacher at the university-affiliated Network Marketing Certificate Seminar sponsored by the University of Illinois at Chicago . To learn more about Tim visit his website at BrilliantExchange.com
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How Do You Convince People That Your Business Is Real?
by Tim Sales First off, thanks to each of you who participated in the survey concerning Dr. King and I doing a monthly conference call about the network marketing industry for you to bring your prospects to. Based on your responses we learned a lot about what you need, want...and what you don't want. Based on your feedback, we're not going to do monthly calls about the industry. Several responses indicated that "live" events/calls are better and more spontaneous. However, the majority of you said that trying to get your prospect to the call (at a certain time) was a big problem and that having people watch Brilliant Compensation (online or using the DVD) really was the best solution. As a result, this month's newsletter (as well as the free conference call) is devoted to helping you with your primary requests, which were:
"How do I convince people that my business is real and not a so-called pyramid
or scam?"
"How do I convince people that M.L.M is professional?"
"How do I handle the M.L.M objection?"
So I'm going to take a break from the "Hot Prospecting Phone Tips" newsletter/conference call series to fully answer for you how you handle the M.L.M objection, how to explain that network marketing is a "real" business and that it's not a pyramid or a scam and that it is professional. In this newsletter I'll teach you how to handle the M.L.M objection. I'll also discuss this more in depth on the conference call. Okay, here's how to handle the M.L.M objection. Since this is a rather long description, I've created a flow chart to assist you. I suggest you print it out and refer to it while making calls. Download it from here http://www.brilliantexchange.com/docs/mlmo.pdf. M.L.M or network marketing questions or objections will come to you by your prospect asking, "Is this M.L.M?" "Is this Network Marketing?" Or, "Is this one of those pyramids?" Or, "Is this like Amway, Mary Kay or some other company?" This question/objection comes up from the prospect being previously exposed to M.L.M/Network marketing or by hearing about it through someone such as a friend, family member or from the media. To properly handle this objection - if it is an objection - you're going to do what you always do on a question or objection and that is to find out what their experience has been. Many times they've had none, all their information is hearsay. If they have had a bad experience with M.L.M, the only way to get beyond this objection is to guide them to see that their bad experience or lack of success was because of insufficient training. Even if the company they were involved with went out of business, the reason is still lack of training - in that case it would have been poor training on how to evaluate a company. So, to summarize how to handle the M.L.M objection you first must find out what their experience has been, and then guide them to realizing that their lack of success or bad experience was due to poor training. Now if they've never been involved with network marketing and all their information is hearsay, follow the same procedures. You take each issue they bring up and show them how training solves it. Obviously if they bring up that it's illegal, you would handle that by having them watch Brilliant Compensation. I've never gotten a pyramid objection after the prospect has watched the Brilliant Compensation video. WORDS TO USE I'll first walk you through this procedure - refer to the downloaded flow chart while you read this: Prospect asks, "Is this M.L.M?" "Yes it is M.L.M - how do you know of M.L.M (pyramid, Amway, Mary Kay)?"
Or,
"Could you clarify what you mean by M.L.M (pyramid, Amway, Mary Kay)?"
Then the next important question is, "Do you have personal experience with an M.L.M company or are you referring to someone else's experience?" Many times you don't have to ask this because they would have answered it within their response to your first question. But make sure you know. I can't tell you how many times I went diving into handling this objection before I found out that they had never even been involved in it. If they have not been involved, but have a negative view of the industry you must present FACTS about the industry. I'll give these to you on the conference call. If they have had experience with network marketing, you want to let them fully tell you their experience - acknowledge everything they say - never argue or disagree with them. Never talk badly about another company or upline. Once you have all the information, then proceed with this question:
"Does network marketing work...not for you, not for anyone you know...just does it as an industry work?" (Get their response.) Then ask, "What do you think it takes for it to work for an individual?" And from here you must guide them to training. Really try to have them see and state that training is the only obvious solution. Try not to TELL them this, guide them to it and get them to realize and state it on their own. Remember, if you say it - it can be challenged; if they say it - it must be true. Alright, once they agree that training is the solution, explain to them the advantage they will have with your unique training (I do recommend you discuss what you've learned with Professional Inviter because this is very different training than most have ever received in network marketing and it is truly what they need). NOW, YOU MUST GET THEM TO SEE HOW THIS TIME IS DIFFERENT THAN THE LAST TIME OR TIMES THEY WERE INVOLVED WITH M.L.M. If they do not see how it's different, they won't join you. After you've gotten them to agree that training is the solution and yours is different - then you close to action with something like: "Mark, I want to sit down with you and show you how it's different. I want to show you the training tools that are now available to you. Are you open to sitting down?" An alternative would be: "Mark, everything you've brought up here I totally understand and can see how it left a bad taste in your mouth - the video that I'd like to send you will really help with this - it's done by a Marketing Professor who teaches network marketing at a university and someone very successful at it. The video is not from our company, it's just about the industry. It really explains everything very clearly without any hype. Let me send this to you, you watch it and then we'll talk more about it." Sometimes their experience was bad because "the company went under" or the company wouldn't allow them to return the products they ordered or something similar. After making everything they say valid, respond with:
"I can understand how that was a bad experience for you. And I'm sorry you had that experience...But moving forward, it's kind of like working as an employee for a bad company - doesn't mean you never work again just because you had a bad experience. Does that make sense to you? Or, like eating a bad meal - doesn't mean you stop eating just because of a bad meal. Right?" "Pyramid" If they ask the question about pyramids - "Is this one of those illegal pyramids?" Answer with: "Absolutely not. Pyramids are illegal. I wouldn't waste my time or yours on something illegal. What I'm discussing is a legitimate business." (Return to whichever step on the Inviting Formula you were on prior to this question). Make sure you get them to see Brilliant Compensation as it does a much better job at fully handling this objection than you can on your own. Alright, that should help you handle the M.L.M objection - I've tried many different methods and this one works consistently and is the absolute truth! With respect and admiration,
Tim Sales
About Tim: In 1989, near the end of an 11-year tour with the US Navy Underwater Bomb Squad Team, Tim answered an ad in the Washington Post newspaper that led him to his first and only network marketing company. Five years later his network marketing income rose to over $150,000 per month with over 56,000 people in his organization. His most noted contribution to the Network Marketing Industry is the Brilliant Compensation presentation. In addition, Tim is a teacher at the university-affiliated Network Marketing Certificate Seminar sponsored by the University of Illinois at Chicago . To learn more about Tim visit his website at BrilliantExchange.com
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How Can I Convince People They'll Profit In M.L.M. While I'm Still Making $50 a Month?
by Tim Sales
The following question came to me anonymously via the BrilliantExchange.com home page.
"How Can I Convince People They'll Profit In M.L.M. While I'm Still Making $50 a Month?"
Thank you for this question. It's a question I get often and is one where the answer is within the question.
First off, you can't make anyone believe anything. What you do instead is get your prospect to exercise their ability to evaluate a business. If a person can't or doesn't know how to evaluate a business, they rely on "what others have done."
I remember when I first started, it seemed as though all my friends and family would ask, "How much are you making?" I would say, "Not much yet." Then they would say, "Well, when you're making something tell me and I'll join you." Guess what? None of them joined me.
What I recommend you say when someone asks this question of you is, "Thank you for the question. I'm curious, why do you ask?" When they say they want to know so they can decide whether they're going to do it or not, then say, "I'm not the opportunity. The company, the products and the trends are the opportunity. Is there anything about those three items that I can explain better?"
Also know that there hasn't been a person ever in this industry who didn't have this as an objection - because everyone starts out making nothing. But thousands, if not hundreds of thousands of people have allowed this objection to stop them from pursuing their dreams in network marketing. This goes along with last month's newsletter about not allowing your prospect's comments to change your view and decision about your business.
I hope this helps you handle this question,
Tim Sales
About Tim: In 1989, near the end of an 11-year tour with the US Navy Underwater Bomb Squad Team, Tim answered an ad in the Washington Post newspaper that led him to his first and only network marketing company. Five years later his network marketing income rose to over $150,000 per month with over 56,000 people in his organization. His most noted contribution to the Network Marketing Industry is the Brilliant Compensation presentation. In addition, Tim is a teacher at the university-affiliated Network Marketing Certificate Seminar sponsored by the University of Illinois at Chicago . To learn more about Tim visit his website at BrilliantExchange.com
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