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Blog Author: Terri Pattio
This is a common objection that almost everyone will get when prospecting. It doesn't matter whether your opportunity costs $1,000 to start or almost Free, a lot of prospects use this objection. In this blog post I will help you in your MLM Recruiting, how to overcome that objection "I dont have the Money" for life!
Now I know that's a Bold statement but it's true. A lot of Network Marketers get this objection a lot and are taught or they hear different ways to overcome that objection. The reality is, Only if you are really good at prospecting or you have a lot of experience in prospecting over the years can you ever convince someone to sign up into your business with this objection. Let me go over some common answers to this objection.
1. Your prospect says "I don't have the money", you can say something like this. "Prospect name, if you had the money would you join?" Your prospect will tell you why, such as working directly with you, the product, the compensation program etc. You now follow with "prospect name, isn't that enough reasons why you should find the money to join now?" At this point if you are Good at this, they may respond with a "Yes". But that's not always the case.
2. Your prospect says "I don't have the money", you can say something like this. "Prospect name, do you want to work your way into the company or do you want to work you way out of the company?" (All this means "Are you in or are you out?", calling a bluff). If they say, "I want to work my way in", you then can follow with this question. Depending on the cost to enter your Network Marketing business, you then ask "how much money do you have available? ". If they say, "I have $300", but your company start up cost is $500, now they only have to come up with is $200. At this point then you can guide them with ways to get the $200 rather than the $500. This works but Not everyone is going to empty their bank account.
3. If your prospect says, "I don't have the money", you can say something like this. "Prospect name, do you really NOT have the Money or you are just Blowing me Off?". I love this one, it's my personal favorite because it puts your prospect on the spot. At this point they most likely would say "No I'm Not!" , then you should move them into the sign up process or they will tell you they get paid this Friday and you can sign them up then. This works Sometimes!
There is some light at the end of the tunnel. There is a better way to overcome this objection "I don't have the money" and I'm going to show a way that duplicates. You need to understand that most prospects have a JOB mentality and they need guidance. That's what Leaders do (YOU), they Lead and Inspire to people to the right decision.
Instead of waiting for your prospect to look at your opportunity before you talk to them about signing up, what if you Qualify your prospect Before they get exposure to your business. After you ask your prospect if they are open to looking at your business and they say "Yes", you need to ask a a few questions.
Question 1. Ask your prospect "Why are they looking?". This will give you an idea of the Problems they are having in their life. You need to become a Problem solver Not a Salesperson.
Question 2. Let your prospect know that When looking at an opportunity there are some costs involved. Capital is needed to start, run the business and advertising to get in front of enough people. Here is the question, "After you have paid all the bills and put food on the table, what have you set aside to build a business?" This answer will tell you "If they have the Money"! If they answer something like this, "Well, I don't have the money that why I'm looking for an opportunity".
Well that's the wrong answer, if you try to recruit that person into your business it's going to be hell all the way through. They won't have enough money for auto-ship, they won't have enough for product samples, they won't have enough for events etc etc.
You are a business owner and businesses Cost Money Period! If your prospect is Not ready Tell them they are not ready. If they give the right answer you can then move them into the next step and that is to expose them to your business. Understand that this objection is a Load of Crap. If they needed the money to see a movie they really want to watch, they will Find it. If they needed the money to pay for their ( Income Reducer ) aka the T.V., they will Find it. If they see enough Value in what they are looking at and the Believe it can Help them, they will Find the Money Period!
So with MLM Recruiting: How to Overcome the objection "I Don't Have The Money". Qualifing your prospect Upfront will let you know if they have the Money or Not and with that you will Never get that objection.
Watch the video below:
MLM Recruiting: How to overcome the objection "I don't have the Money"
If this post has brought you Value in your MLM Recruiting please comment and share this with all of your friends.
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