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“My own challenge is my sphere of influence, people I know are mostly those with the willingness to join my network marketing business but they are not always having the money and this has been their challenge.”
This is a question asked by one of our students in Digital Marketing Pro group.
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So, in today’s post, I will be answering this question with how to respond to your network marketing prospect who has no money.
All network marketers have heard the objection “I don’t have the money for it”.
The no money objection means a lot.
It may mean that, the prospect does not believe in himself succeeding enough to earn his money back from investing it in your opportunity
I want to share a personal experience with you.
So read on.
At a time, a lady called me on the phone that she will like to join our company then.
I quickly congratulated her and ask her some questions but at a point I observed some objections coming from her.
She asked, “But what if I can’t afford the start up capital now.”
I listened so I can know where the objection was coming from.
And I replied, ‘If you can’t afford the start up capital now and this business has the potential to make you independent and get ahead in your finances, would you do something about getting started today?’
Immediately she replied me back and said, “I checked my account and it’s low but I will do something.”
I said ‘OK.’ She asked again, “Please it takes to how many days or weeks to collect my rewards?’
I answered with ‘Hello, are you ready to begin now? When you said you wanted to begin, were you serious or just kidding?’
“Let me begin then,” she replied and I immediately answered with, ‘Let me know when you have sent the money for your registration and I will teach you how to make your start up capital back. Congratulations.’
She said, ”Okay.”
And that’s how we rolled up together and she’s doing well today.
Your prospect may not have that money in their bank account or in their pocket, but people can get money if they want something bad enough.
People buy emotionally and not logically.
First thing you will need to do, is to figure out for yourself why they used this objection.
Are they simply not interested? Are they spending too much every month on their bills, hobbies and lifestyle?
Or are they trying to make you sweat and earn their business?
There’s another strategy to use.
Let me explain this.
Once you are given the “No Money” objection, quickly ask them the question “Are you telling me this to get in, or to get out of it”?
Let them admit either they are not interested, or they are and are really wanting in.
If they are not interested, it’s fine.
It just saved you a lot of time wasted trying to convince someone to better themselves.
Let them go, thank them for their time, and move on.
Never keep trying to interest them, because they may be trying to make you dance.
Some people will try to get back into the deal if they see you are not effected by them not joining.
Some people also have fixed expenses and are wary of putting their money just like that in a network marketing business.
People have to see that, by simply changing their spending around, can give them a life of more abundance.
Help your prospect understand this, and the numbers of signups will increase.
Here’s the ultimate question that will help you so much. I learned it from, Cesar Rodriguez.
I thought it was such a great question that I have added it.
“How far off are we?”
Let’s just say that in this example it’s $300 to join.
If you don’t ask this question, you’re battling that 300 bucks.
When you say, “how far off are we?”
At a $300 join, I’ve had people say, “Well, I’ve got $250.”
Now what am I battling?
I’m battling $50.
I’m not battling 300.
$50, I’m battling $50. It’s a lot easier than $300.
Unless your prospect is truly hungry (no food) and homeless (no place to lay their head)more than likely the no money objection is an excuse.
They may not know it yet but with a little help you can help them find their own solutions.
If someone says I don’t have the money…
Say, “I have found that most people who are successful in this business started with nothing. And wouldn’t you agree that everyone has the ability to sell or cut out what’s not important to them and buy some things that are, if they really wanted to?”
Let them agree.
I learnt this answer from one of my mentors, Paula McKinney.
Ask this simple question.
“Could you find the time and money to create the lifestyle you wanted, if you really wanted to?”
They always say yes.
Final question for them, “Great, what else do you need to know to get started?”.
Another answer is this.
Let’s say they say they don’t have the money.
You can immediately say, ‘Of course you don’t have the money, that’s why am talking to you about this, don’t you think that this is the reason why you should do this?’
I learnt this from Matt Morris.
And then shut up.
One of the powerful strategy of the closing concept is not talking because people needs a lot of time to process things in their mind.
And if you don’t allow them to process it in their mind, then you will only talk them out of it because you wouldn’t allow your powerful point to sink in.
You know the common saying in closing states that, the first person who talk loses but in this case, those who talk first actually win.
Because it allows what you just said to sink in, it allows them to make their own decisions and hopefully it’s a positive decision.
Having the ability to close and reject objections is, of course, a very good thing.
It is a good thing for you and your family because it enables you to earn a large income.
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P. S.: On December 16th at 8pm, I plan to do exactly that. I will be hosting a special 2-hour LIVE Webinar on how to close: The, ‘I’ll think about it and the big word NO’.
This live Webinar is designed specifically to help you create the best strategies on how to handle objections effectively and close a prospect successfully.
Click here to get your own ticket.
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