MLM Recruiting The Wrong Way Will Kill Your Social Status Part 2 of 3
Yesterday we’ve seen an example of a poor MLM recruiting approach that raised many red flags in your mind (remember, you’re still in character, you’re the successful network marketer and now you’re the prospect). Remember, your niece sent you this message: “Hey, I just started something which I think you’re going to like. Can you come to a presentation Wednesday?”
So let’s dive in and understand what’s really going on behind the scenes in this scenario and why it’s wrong.
MLM Recruiting Part 2 of 3 – The Red Flags
First off, your niece gets in touch with you when they never did in the past. Right away it’s kind of suspicious, sketchy and leads to the question “What does she want?”
She “started something” and now she wants you to go to a presentation. Yes perhaps it’s true but right away that’s screams “I’m a beginner and I want you come to a presentation” so someone else you don’t know can try to sell you on something you don’t want or need. She hasn’t offered you any value or reason why you should attend, which makes you ask: “Why should I make time to see a presentation, I’m already super busy? And why is she so elusive, what does she have to hide? … Oh I know, she’s trying to pique my curiosity. As if I’ll fall for that, that’s so 1970 to 1995”.
When you’re successful and busy, you know that the commodity you lack of, is time, so to go out, drive to a location, listen to a presentation from a stranger that you have no idea about what the topic will be about and drive back is even more time wasting: “If it’s so important why doesn’t she come over to my place and show me what it’s all about herself? After all, she’s the one that wants me to have a look at it, not the other way around?”
You know she won’t give you the presentation because she’s not a sales person, doesn’t have the experience and can’t deliver it as good as the professional would. So instead she’s trying to use emotions by using your relationship and ask a favor of you, which will cost a minimum of 3 hours of your precious time to be put in front of a salesman.
Then you know if you do join whatever it is, you’d have to involve more time to try to build a new business and frankly, you know you just don’t have the time. Looking at it this way, it’s kind of selfish on her part to get you to do all that in order for her to build a team. She’s not acknowledging the fact that you’re a busy person.
She haven’t even qualified you to see if you’re even busy working on other projects. She totally skipped out on the rapport building and she went straight for the close which makes you think in a sarcastic way: “Okay, I’m fine too, thank you for not asking?”
Being in the industry and business for over 10 years, she must take you for a fool (ok maybe not literally, it’s more of a beginner’s ignorance), after all, it’s not the first time you’ve been approached this way, in fact, because you’re in business, you’re being approached all the time and it’s getting annoying: “Does she really think I haven’t heard that before. This is the kind of approach done the wrong way that hurts the reputation of the industry.”
After calling her out on it: “Sounds like your MLM recruiting me for your network marketing opportunity and you’re using 1970 ways to recruit. lol Sorry but I’m busy working on my blog and video channel teaching modern MLM recruiting methods. You should check it out, you just might learn a thing or two”.
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You’re not looking for people to come and join your opportunity, people come to join you and they want to be guided by you and mentored by you. More on attraction marketing here.
Your niece is pretty clever though. She learned at her MLM recruiting training that people might offer some objections so they learned the art of objection handling.
MLM Recruiting Part 2 Side Note
Ok side note, this makes me chuckle because I have a background in martial arts and this would be the equivalent of a white belt challenging a second or third degree black in a sparring match. Yes, the niece started martial arts, which is great, congratulations for her but there’s still a lot of learning ahead of her. Learning how to handle objections is a great but it’s got to be within the right context.
In our scenario so far, the niece is bringing her new learned techniques, sort of like new martial arts techniques, against a gun fight. What I mean by that is, it doesn’t matter how good she is at handling objections, if the prospect says: “NO” it means “NO”, there’s no point and trying to force it down on the prospect. Again, the more she insists, the more she’s killing her social status and reputation. She’s trying to impose her will by using pressure sales and using guilt trips. THIS IS BAD! Businesses shouldn’t run like that.
Let’s say somebody join’s your niece to “get her off their case”, this will not be duplicatable as they will have no interests in building that business, there’s no drive. It’s like, she can’t force a horse to drink water.
But in our scenario, the more she keeps pushing, the more the you the prospects will resist and the more the prospect resists, the less chances she’ll have at ever recruiting our “successful character” in the future. This method triggers all the defense mechanism that are hard wired in the human being for millions of years.
Join me in tomorrow’s final chapter of our little MLM recruiting scenario. Tomorrow we’ll explore how she handled your answer, what the new set of red flags are and questions that they bring up in your mind (remember you’re still in character). You’ll also get my final thoughts on this scenario and the truth behind the layers of hype.
What do you think is going to happen next? Share your thoughts, cheers!
MLM Recruiting The Wrong Way Will Kill Your Social Status Part 1 of 3
MLM recruiting done wrong will burn bridges between you, your friends and your family. Take a closer look at your invite scripts and make sure you’re not doing these critical mistakes in your MLM recruiting process.
Allow me to paint a scenario so you can see what’s really going here.
Ok you just signed up in a new opportunity. You’re super excited, you just finished your MLM recruiting training and now pedal to the medal you’re out MLM recruiting and hustling to get your new MLM business off the ground.
You can see your future, you know your why, your vision is clear in your mind, you can taste the lifestyle and the residual income changing your life. You then go out in the “real” world then bang, your first rejection. It’s ok, you learned a couple new objection reversal and bam, second, third and fourth rejections and they keep on coming and coming and coming.
You go out and ask people to come to your presentation yet it seems to be so difficult, it’s just emotionally draining. After doing the rounds of your friends and family once, then you go a second time and plead your friends and family to at least come and watch it just to save face, not feel the guilt of not bringing anyone and show your upline that you’ve got some new faces in the room. “It’s a numbers game” they tell you, “for every 10 you bring, 1 will sign up” they say.
Well it’s not always the case, those stats are misleading and they’re not comparing apple to apples, maybe it’s the case for them as expert in the industry but as a beginner, those numbers are not supper accurate, everybody’s different, it’s not just a numbers game, it’s also a skill set.
It turns out to be a lot more challenging than it really is. People are busy, they no show and after a while you get discouraged, then you see all your dreams vanishing away, disappearing in the darkness. Does that sound familiar? Well, it doesn’t have to be that hard. Natural born leaders can make that method work pretty well for them.
They are people of influence and people follow their lead no matter what. Unfortunately, not everyone’s gifted in that MLM recruiting area. To know if the warm market approach will work for you, look at yourself in the mirror and compare yourself amongst your social peers and ask yourself: “Am I the leader of the group?” If not, then this approach will more than likely not work for you.
If you keep on insisting for your friends and family to show up to a presentation or to join, after they told you “No” a bunch of times, stop and think about it, how do you think that would make them feel? How would it make you feel to know that you are, not knowingly, applying pressure sales techniques by using the emotional card?
Now let’s say in the future, you try to reach one of your friends or family member; would they purposely try to avoid your calls thinking that’ you’re just going to try to do your sales pitch again?
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MLM Recruiting From Your Prospect’s Perspective
Now it’s important to understand why this is happening, and for that, we’ve got to look at it from the prospect’s perspective. So let’s turn the tables around. You’re a busy successful person, business savvy, you’ve been involved in network marketing for nearly 10 years and are a pro at MLM recruiting.
You know the modern 6 approaches (and counting) and that the warm market is only one of them. You know how to properly handle the warm market and know what’s socially acceptable in our modern society and our era of unlimited information at our finger tips.
You know that you have to qualify prospects to see if they are even open to see or hear about a business opportunity before you even make the invite. That will give you a qualified prospect. You’re working hard on your MLM business, you’re busy and got a lot of stuff on the go and then you get an e-mail from your niece out of the blue, that asks you if you’re open to see an opportunity and that if you’d be available to come to a presentation Wednesday night.
Because you’ve been around the block for so long, right away all the MLM recruiting red flags from the approach are kicking in.
Join me tomorrow to find out what those MLM recruiting Red Flags are and what questions really goes on in the back of your mind. Remember, stay in character, you’re still the successful network marketer and now you’re the prospect.
What about you, what do you think those red flags are? Share your thoughts, cheers!
MLM Recruiting Part 1 Part 2 Part 3
What Is An MLM Company And How Do They Profit?
I’ve broken down this article (about what is an mlm company and how do they profit) in two parts to make it easier to grasp. The first part will focus on what is an mlm company and the second part on how do they profit.
So, “what is an MLM company you ask?” It quite simple actually, MLM stands for multi-level marketing also known as network marketing which falls under the direct sales category (like “Tupperware” except Tupperware is a single level, not multi level.).
All companies, whether traditional or direct sales have to move products in order to stay in business. When I say move products I mean sell products. Traditional companies chose the route of advertising, going through national distributors, regional distributors and finally local distributors before it hits the store shelves. All of these different “steps” take a portion of the profit which is then factored into the cost.
Direct sales companies instead chose to go straight from the company to the client going through “representatives”, “distributors” or “party hosts”. Almost each company has their own lingo. Essentially they save the cost of advertising and branding which is a huge chunk of the pie. Instead they chose to put those profit into better quality products, research or into savings for the customer.
Because these companies have less overhead and less employees, this is another source of significant amount of savings. Reps only get paid a percentage commission when they sell products which is performance based. In return, reps which can literally be any body, have the potential to make huge amounts of profits if they sell a lot.
Hopefully that answers the first part of the questions: “What is an MLM company?”
What Is An MLM Company And How Do They Profit Part 2
In the previous section you’ve learn about “what is an mlm company” and now let’s focus on how they profit.
Here’s the original question that I was asked: “How do MLM Companies profit when they pay the members on the basis of the number of members that join the network; and they pay them big?”
I found that to be an excellent question since not everybody new understands how it works. There’s a rational explanation for this and here’s how it works.
Companies have a maximum payout for the “commissions/residual income” that goes to the upline for recruiting. There are all kinds of restrictions and qualifications to make sure the compensation plan doesn’t “bust” so to speak.
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First of all, companies never pay for a new recruit to join in. If that were the case, that would be considered an illegal pyramid scheme as the flow of money is from recruiting (which is bad), so if you see this anywhere, it should be a red flag and run away from that opportunity.
Legitimate companies pay people based on the product or services they sold and sometimes the companies throws in bonuses as incentives.
Let’s say that a company pays out 60% of all revenues. That means on every product or service sold they collect 40% and only the 60% is divided within the commission structure.
I’ve also seen 100% pay out commissions but when you scrutinize the commission plan carefully you see you get 100% commission of the product or service however you must pay a “reseller fee” of either $25 or $100 per month.
So this can be good and bad depending on how much volume you personally sale. MLM is a business at the end of the day, it has to make money in order to stay in business.
Compare it to real estate, some brokerage will offer their agent a 70% – 30% commission split for every house they sale with no desk fees (or office fees), that means the agent keeps 70% and the brokerage keeps 30%.
That’s a form of leverage for broker as he’s receiving an “override” income from the efforts of his own agent. Now I’ve seen other companies have a 95% – 5% commission split, which is very good but it comes with a monthly desk fee of $2,000 a month.
Again, depending on how much volume you plan on selling one is better than the other. Option A in this case would be better for a beginner as there is less risk involved and option B would be better for a “pro” who sells a lot of house so the 2k per month is just a business expense yet he still retains most the commissions from his sales.
When the MLM companies get the money, the split goes 40% to the company and the remaining 60% could be split with the distributors or sales force as follows: 20% – 10% – 5 % – 5 % – 5 % – 5 % – 5 % – 5 % – so this would be an example of an 8 level deep compensation as you see, it never surpasses the total revenues meaning, the company never pays above and beyond 100%.
This was simplified for illustration purposes only, commissions structures are more complex than that but at the end of the day, they are all properly balanced so they never payout more than their allowable commissions’ budget.
I hope this helps understand the industry a little better. Click here on the link to learn more about the various types of career from home.
What about you, how long have you been looking to start a new career from home?
Prospecting For MLM Leads To Grow Your Business
If you’re prospecting for mlm leads, you got to do it the right way.
Right now you’re probably used to talking to your friends and family, doing cold calls, chatting via instant messenger and there’s nothing wrong with those approaches.
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Getting your prospect’s attention is not hard, it’s actually quite easy, all you got to do is say: “Hi”, they will pause and look at you waiting for you to continue.
The only things that can go right or wrong when you’re prospecting for mlm leads is what you say next.
Right from the start, if you pitch your opportunity right then and there, you already lost and there are so many reasons why. Here are a few of them:
- You lost because you approached them with an offer which immediately puts them “higher” than you, they are in demand and you are viewed as desperate or needy. Even though it’s not the case, this is the reality of the approach. A good comparison to this would be if a guy sees a girl he’s never met, walks up to her and asks her to marry him right there on the spot. It’s makes the whole situation uncomfortable and awkward. Instead a “flirtatious game” should be happening.
- They don’t know you that way. If it’s someone you know, they don’t know you with that new business attitude or mentality so they will not take you seriously on it because it’s not congruent with how they know you as a friend. Say you’re the joker of the group, an all of the sudden business attitude just sounds funny and not serious. The same if you’re the shy one or timid one and now you’re out talking to people, that’s just weird. If they don’t know you, well, exactly, they don’t know you so if you come with a pitch right away, they’ll feel like something’s fishy and you’re out to get them.
- Here’s an example of an extreme fishy approach for illustration purposes only. Someone looking like a dirty bum comes up to you and asks you if you want to learn how to make millions, and get residual income for life and retire in 6 months. Are you seriously going to listen to them at all?
- Now using the same example, let’s say Donald Trump or Tony Robbins (or anyone successful you like) comes to you and says the exact same thing. Will you give them a chance to talk more and listen to what they have to say?
The difference between these two scenarios is posture and positioning. One displayed non congruent body language to what he had to say and the other one is well respected and seen as an expert. So when you’re prospecting for mlm leads, more than likely, right now you’re approaching like the bum.
The secret to become the expert is to be in demand and to have your prospect properly qualify themselves to you before you pitch them anything. Essentially it’s about learning the skills of how to do lead generation to grow your business properly.
Look at job employers, they have potential employees send their resumes to them. Then they go through an interview process, then they might consider the applicant for work. Prospecting for mlm leads is a little different from the job analogy because you want to help your prospect figure out what they want through a series of rhetorical questions. Once they know what they want, then you can position yourself as the expert and offer a solution to their problems, or offer a wealth vehicle, say your network marketing opportunity. Hint! Hint! But you can only do that once you’ve delivered tons of value and helped your prospect figuring out what they want.
Prospecting For MLM Leads
When you’re prospecting for mlm leads, never ever put pressure on anyone to join your opportunity. Nothing good will come out of that and it will taint the network marketing industry with lots negativity. Don’t waste your precious time with non-interested people, life is too short. Instead focus your efforts on delivering value. Answer this questions: “What can I do today to give value and educate the world? What solutions can I come up with to the problems my prospects have?
When you position yourself as an expert, a problem solver you’ll find that prospecting for mlm leads will come naturally.
What about you, what can you do today to start giving value?
Network Marketing Pro Tips For You To Use
Nothing beats Network Marketing like Pro Tips. In this CareerFH article, we will lay out some great tips you can use for network marketing that are current, accurate and very helpful and for more wisdom, seek advices from professional network marketers who are successful in their own respective business.
Let’s address a myth, many think that a large quantity of representative will result more sales in multilevel marketing; however, it has been proven that quality beats quantity every time. If you want to be truly profitable in your network marketing business, you have to find entrepreneurs with work ethics, the drive to succeed and the willingness to make the effort to establish their own downlines.
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Learning from your setbacks in network marketing is a great way to push forward. Keep track of your shortcomings and analyze why they exist. Learning from failures, both your own and those of others, helps you to avoid the same mistakes and to focus on the strategies that do work. Mark Yarnell’s “Your First Year in Network Marketing: Overcome Your Fears, Experience Success, and Achieve Your Dreams!” is a great book (also available in audiobook here).
If you offer something new and in demand, you could attract new customers from various niche and by giving people the option to choose your products or services, you just might find yourself coming out on top.
Time spent with your family and friends is a stress reducer, so don’t forget to make time for them. In the beginning, your business will require a lot of your time and that’s why it’s imperative that you maintain a good schedule. Once your business is established, you find you’ll have more flexibility with your schedule and will be able to spend more time with your family.
Teach your downlines how to properly communicate with others so they can stay in control of the conversation. Build rapport with your new prospects, find out what their needs are and only then, if you know something that can help them you can offer a product that will act as a solution to their problems. As you get more experience helping people, your knowledge will increase and you’ll be in a better position to see what they need and want.
By genuinely helping your prospect out, your prospects will be more than happy to do business with you.
Network Marketing Still Involves Sales
Keep in mind that network marketing is still in the sales industry thus sometimes lots of products will be sold and other times less sells will occur. In that event, you have to plan ahead. The financial experts agree that a good rule of thumb for a strong “safety net” is that in case of an emergency, you should have access to nine times your monthly expenses in cash on hand available. During your good months in network marketing, put money aside as it can help you establish your emergency fund.
To achieve long-term success results, set specific and well-defined goals. Even if you have a business plan that expands for 3-5 years, you want to re-evaluate your progress every ninety days. Following and tweaking specific goals is the key to a successful business.
Follow known and effective business models whenever possible. Use your upline and leaders or someone else that is successful as role models. Use their techniques to develop strategies that will work for you in your business. Imitating them can help you get to the top. We can learn from our own mistakes, as well as from the success of others.
Using and implementing the tips that you have just learned will allow you to manifest network marketing success.
What about you, what other network marketing tips would you suggest?
Network Marketing Pro Tips For You To Use
Nothing beats Network Marketing Pro Tips. The article below will lay out some great tips you can use for network marketing that are current, accurate and very helpful but for more wisdom, seek advices from professional network marketers who are successful in their own respective business.
Let’s address a myth, many think that a large quantity of representative will result more sales in multilevel marketing; however, it has been proven that quality beats quantity every time. If you want to be truly profitable in your network marketing business, you have to find entrepreneurs with work ethics, the drive to succeed and the willingness to make the effort to establish their own downlines.
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Learning from your setbacks in network marketing is a great way to push forward. Keep track of your shortcomings and analyze why they exist. Learning from failures, both your own and those of others, helps you to avoid the same mistakes and to focus on the strategies that do work.
If you offer something new and in demand, you could attract new customers from various niche and by giving people the option to choose your products or services, you just might find yourself coming out on top.
Time spent with your family and friends is a stress reducer, so don’t forget to make time for them. In the beginning, your business will require a lot of your time and that’s why it’s imperative that you maintain a good schedule. Once your business is established, you find you’ll have more flexibility with your schedule and will be able to spend more time with your family.
Teach your downlines how to properly communicate with others so they can stay in control of the conversation. Build rapport with your new prospects, find out what their needs are and only then, if you know something that can help them you can offer a product that will act as a solution to their problems. As you get more experience helping people, your knowledge will increase and you’ll be in a better position to see what they need and want. By genuinely helping your prospect out, your prospects will be more than happy to do business with you.
Network Marketing Is Still Sales
Keep in mind that network marketing is still in the sales industry thus sometimes lots of products will be sold and other times less sells will occur. In that event, you have to plan ahead. The financial experts agree that a good rule of thumb for a strong “safety net” is that in case of an emergency, you should have access to nine times your monthly expenses in cash on hand available. During your good months in network marketing, put money aside as it can help you establish your emergency fund.
To achieve long-term success results, set specific and well-defined goals. Even if you have a business plan that expands for 3-5 years, you want to re-evaluate your progress every ninety days. Following and tweaking specific goals is the key to a successful business.
Follow known and effective business models whenever possible. Use your upline and leaders or someone else that is successful as role models. Use their techniques to develop strategies that will work for you in your business. Imitating them can help you get to the top. We can learn from our own mistakes, as well as from the success of others.
Using and implementing the tips that you have read in this article will allow you to manifest network marketing success.
