Download
1 / 31
310 likes | 325 Views
How to Cover the Pyramid Objection.
E N D
How to Cover the Pyramid Objection • When doing your follow-ups or talking to people you may hear the objection“Is it a pyramid?” or, “It sounds like a pyramid!” I often respond, jokingly, “No, a job is like a pyramid. You will never earn more than your boss... With network marketing you can. If you do more work you get paid more!”While some prospects may have genuine concerns, others may use the 'pyramid objection' as an excuse, instead of just saying ‘no!’ to the opportunity.Saying ‘No, it’s not a pyramid!’ or even explaining that pyramids are illegal usually isn't enough to set aside genuine concerns, so before covering this objection you need to find out if it is genuine.Depending on the conversation you could say to them, “That's a good question and I will talk to you about it in a moment but, just for my records, are you still looking for an income?”
How to Cover the Pyramid Objection • A great way to explain the difference between a genuine Network Marketing opportunity and a pyramid is like this;‘Thanks for telling me your concern, John. Pyramids are illegal and the man at the top always makes the most money, but our industry is very fair. The person who does the most work earns the most. In fact, there are people, including very new distributors, who earn far more than the person who introduced or sponsored them. The company pays those who create more business. Network Marketing is a very well respected industry. Many respected business people, including Tony Blair (British Ex-Prime Minister), Donald Trump and Richard Branson, have publically supported it.“Here is an example. FM Group is like Tesco’s, except that the manager asks us to bring along some friends to shop with FM Group. As a thank you the manager agrees to pay us a commission on the money our friends spend with FM Group. Basically, as FM Group is gaining new customers without having any marketing or advertising costs, it can use the money it saves to decrease the price of its products and everyone saves money. "Following this analogy, if you bring 5 new customers and someone else only brings 2, you will earn more money!"This is basically how our industry works. And even more exciting, if you introduce a few people the company pays you a commission on the sales. So the more people you help to earn an income in your business, the more you earn!"
Your customers • On joining your MLM business you will have received information / DVD’s in the start up kit and from your sponsor. You can reuse this information for prospects. When you talk to one of your customers, either in person to deliver a product, or on the phone when you are following up, you can promote your business. If you see a customer in person you can give them an opportunity DVD or printed information.Over the telephone you can direct them to a website or send them an email with information. You should always make sure the customer puts urgency in looking at the information/website. If it is a physical pack, ie, DVD or printed information say you need it back within 2 days as you have someone else waiting to look at it. Even when you say this you can save time by collecting it when you next see them for a product order, if you need to. If you have asked them to look at a website make sure you follow up with a telephone call within 2 days. If they haven’t yet looked, say it will only take them a couple of minutes / 5 minutes and it could change their life.If you are uncomfortable asking if they are interested in your opportunity, use the third party approach. Ask them to look at it and can they recommend anyone.
The wrong number! • When calling prospects you frequently misdial or come across incorrect telephone numbers. Instead of just ringing off you can prospect the person on the end of the telephone.This is how you would do it.‘Hi, Can I speak to John please?’‘No, sorry, it is the wrong number’‘Does John live there or do you have a forwarding number for John?’‘Yes / No,’‘Sorry to disturb you, but the reason I am ringing John is because he inquired about a business opportunity, / he is looking to start earning an extra income. Would you be interested, or would you know anybody?’Which ever way they respond, always ask for referrals. Referrals are so important. • If you don’t ask… You don’t get!
Practice makes perfect • When I am working with people I find that they are sometimes uncomfortable doing things at first, but once they have done it a few times it's not as difficult as they thought.A while ago I was working with someone in depth. She was very nervous and uncomfortable and I gave her encouragement by telling her...."Please mess it up" It gave her the courage to get started and it didn't take long before she was doing it well and comfortable, too! • My belief is, if something is worth doing,it is worth doing wrong... until you can do it right. • Why do I say this? Let me explain.Some people spend so much time perfecting things that very little or nothing gets done. You are better off doing it wrong, but doing it anyway, until you get it right. • The first step is often the hardest. So get started. If you find something very hard people will have respect for you for trying, and you will get better with practice.
Some more quotes to get you started In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.Theodore RooseveltIt's not whether you get knocked down,it's whether you get up.Vincent LombardiWell begun is half done.Atistotle
Three Foot Rule… Passive • The 3 Foot Rule basically means you talk to anyone who comes within 3 foot of you about your business and ask if they are interested. • You don’t have to prospect everyone! • You may be uncomfortable talking to people face to face about your business opportunity, and you will definitely sponsor people who are uncomfortable.If this is you, practice steps a), b) and c) below, without telling them about your business opportunity. You don’t have to talk to people about your business until you are comfortable. Once you have practiced opening conversations with people you can choose if you want them to be in your business, or not. Once confident you can move onto getting their contact details and telling them about your Business. I would rather you practice, than not do it at all!
Three Foot Rule… Passive • It is important you don’t practice just talking to people forever. You need to move on to prospecting people using the 3 Foot Rule within a few days. However, if you are practicing on a minimum of 5 people a day you will very quickly become confident enough to start asking people if they are interested in receiving information on your business / work from home / products. • Talk to at least 5 people a day using the 3 Foot Rule • When you are having a conversation with someone it is important to remember that you can choose whether you want them in your business. Do they qualify? Thinking like this gives you a good mindset. It will help you feel more comfortable talking to people. It means you can talk to people and you don’t have to prospect them. Remember, you have the opportunity to help them. • They need you…. You don’t need them!
Starting a conversation • The Direct approachYou can take the direct approach. Come straight out and ask; Are you looking to earn extra money. • I have a business opportunity for you. • I have a way for you to replace your job / car, etc. • If you get a positive reply ask for their contact details. Say you will be in contact because you are looking for someone. If the person asks what it is reply,‘Well I can’t promise you anything at the moment, but I am working with some friends on a business project. I will be in touch’. You will catch people specifically looking for a business opportunity, or an extra income, by being direct, but many people will switch off, either because they don’t want to admit they are struggling financially, pre judging or they don’t know they are looking for something!
Starting a conversation • Passive 3 Foot RuleNow, I want to teach you how you can prospect people without them knowing you are doing it. You can talk to strangers at the bus stop, in an airport lounge, while queuing to pay for your groceries, at a party or in the pub. Absolutely anywhere.I have learned that if you ask people what they do, they often ask what you do. People love to talk so it is important that you ask questions and listen to what they have to say.You can start your conversations with questions or exclamations like these.a) Going to work? Another day at the office? Do you like your job? Wouldn’t it be great if we could earn money without working for a boss / going out to work. You know, I have just started / am looking for….b) What do you do for a living? Oh, I bet you get paid a lot doing that!
Starting a conversation • c) Listen out for people talking like this; Isn’t everything getting expensive! • Price of petrol • Cost of food • How expensive it is to get a hair cut • Childrens activities • Expensive bills and living costs • Reply to their comment and start a conversation.You will then get their response similar to these examples, No, I don’t like my job • I wish I was doing something else. • It doesn’t pay enough • I don’t have enough time with the family • More money to pay for groceries • If you ask the right targeted questions people give you clues. Finally, once you have got a prospect interested in looking at information, ask them for their contact details, ie name, phone number and/or email.If you have a business card give it to them once you have their contact details if possible, otherwise your prospect may choose to call you instead of giving you their details. You need to be able to follow-up. Once you have got their contact details you can, if you wish, give them printed information, a DVD about your business opportunity, or a link to your website. Only do this when you have got their contact details, so you can follow-up. • Remember, if a prospect does not want to become a distributor, make them a customer!
When you affirm big, believe big and pray big, big things happen.Norman Vincent PealeI don't know anyone who has got or gotten to the top without hard work. That is the recipe.Margaret ThatcherIn the middle of difficulties lies opportunity.Albert Einstein
Paper Trail • Everywhere you go leave leaflets, business cards, or any other information about your business everywhere you go. If you do not have any printed cards / leaflets don’t be afraid to hand write on a piece of paper. Hand written is often very effective because it will attract attention. The downside is that it is time consuming, but it is also free!Become a paper trail for your business. Alongside the normal places to leave them, ie, on cars, through letter boxes, some of the more bizarre places I have left cards and leaflets include; • Doctor and dentist surgery waiting room. • Restaurant table, include it with the waiters tip. • Paper holder at public restrooms. • Train, bus and aircraft seats. • Petrol pumps • Attached with blue tac under the window at MacDonalds drive through where you wait to get your order. • Shopping trolly’s at Tescos. • Bank cash point machines. • Inside MLM / self help books / magazines for sale in shops. • Information stands, anywhere there is an empty slot available for business cards. • Remember, don’t overflood an area at any one time. A few here and there, in any one place, is more effective.
Referrals • A major free and time efficient lead generating opportunity you have, is to utilise your current prospects for referrals. Become a magnet for free leads when you speak to anyone about your business. Don’t be nervous!If you don’t know someone it doesn’t matter if you mess it up.Just ask the question! You talk to people anyway when you follow-up with a prospect. These people will know others. Your job is to ask questions. The more people you ask for referrals, the better and more confident you will get, and the more referrals you will receive. Referrals give you masses of contacts which you would't otherwise have had without talking to people you know, and for zero advertising costs.You will not get referrals from everyone! • Don’t worry if you don’t get a referral from everyone you ask. For example, if you speak to 10 people and only three give you referrals, but one of those people joins your business, isn’t it worth it!
Referrals • How do you ask for referrals?When you are talking to people who have said 'no' to your opportunity always ask,"Do you know anyone who is….. Looking for an extra income? • Being / been made redundant? • Struggling with the mortgage / bills? • Has been involved in MLM in the past? • Ambitious? • Runs their own business? • Ask a couple of these examples.... the ones which you feel are more appropriate to your conversation in the follow-up. When their reply is positive, ie, “Well, Jack down the road is looking…..’Your reply is “What is Jack’s phone number?”Never ask “Will Jack mind if you give me his phone number?” Don’t give them the opportunity to say no!
The Power of referrals! • I recently asked for referrals from someone who was not interested in my MLM opportunity. They initially said they didn’t know anyone but after another question that person said she did know somebody who may be looking. I contacted that person and, to cut a long story short, they joined. They didn’t last very long in my business, but, before they decided it wasn’t for them, they led me to a couple who are very keen and motivated.Remember, before you ask for referrals, always cover objections first! • A while ago I spoke to a lady who as not interested in my opportunity for herself, but she could see the benefit to others of building a business with me. When I asked for referrals she said she had someone in mind, but she would not give me the name and number when I asked. She did, however, promise to pass my emailed information on. The following week I had a phone call from this referred person, an extremely positive and motivated individual, who is doing all the right things to build a big business. Like you, I have been told by many prospects that they will pass on information to others, and most of the time nothing happens…. But it only takes one! • Always ask people you speak to for referrals. Try to get a name and contact details and if this fails ask them to pass information on.
Here are a few tips Expand your comfort zone.By stretching you will get uncomfortable, but you will also feel brilliant!Review your goals several times a day, and teach your team do the same.Do one extra activity every day and build your business faster.
Confused distributors don’t build! • Your team have to know what to do. Stability and growth in your team is only achieved if your people have tracks to run on, and this is achieved by following an easy to duplicate and simple system, with you leading the way. You must know how to teach it and your team need to know how to work with both you and their downline, either at regular trainings or individually, hands-on. Achieving a strong and secure business • Stability is achieved in a leg when you have a minimum of 3 levels of leaders, in depth, who are seriously building their business. Anchoring a leg securely in this way takes time. How much time depends on how fast you are building your business and how well you work with your team.
Nothing is particularly hardif you divide it into small jobs.Henry FordeI'm a great believer in luck,and I find the harder I work the more I have of it.Thomas JeffersonA dream you dream alone is only a dream.A dream you dream together is reality.John Lennon
A couple of tips to make it easier! • Read your goals. Visualise what you want to achieve, then write prospecting with no limits into your plan of action. • Ask yourself, what are you prepared to do to turn your dreams into reality? • If you are nervous, practice in front of a mirror in the comfort of your own home, until you are comfortable with what you are saying. (Don't forget, you will only make money once you talk to people!) • Immediately before you start prospecting with no limits, read your goals. You will be more confident if you are focused on your reason why!
In great attempts it is glorious even to fail.It's not whether you get knocked down,it's whether you get up.Vince Lombardi(Manager and owner of the Washington Redskins, and a wonderful coach)
Your Reason Why! • Why are you building your network marketing business?What are your goals? What drives you to build your business every day? Do you want the smaller pleasures in life like paying for your daughter to do ballet after school, Sunday afternoon with the family at the Hollywood Bowl, dinner for two at your favourite restaurant or several extra pints down the pub, without worrying about where the money to pay for it will come from. These small extras greatly improve the quality of life for your family and can be paid for by a part-time income from a network marketing business.Or, are your goals bigger. Sports cars, big houses, long holidays, financial security for your future, private education for the children?Whatever your goal, my system will help you achieve it if you put the training into action on a regular basis.
Goals • Reviewing your goals regularly will focus you on doing the regular activity needed to build a network marketing business. • What does regularly mean? • In the morning when you wake up. A positive start to your working day! • Last thing at night, so you dream positive dreams! • Before starting any lead generating activity..... to remind yourself why you are working so hard. • When you are feeling low..... to remind yourself why you are working so hard. • When you are feeling happy...... to remind yourself why you are working so hard!!!
Write your goals downso you always have a copy at hand. • Place visual reminders of your goals in prominent places around your home, car and work place so you see them regularly, everyday. These visual reminders could be a picture board with details of all your goals, or they could be framed photos, pictures, or simple associations, like placing a Mickey Mouse on your mantlepiece, if you want to visit Disney Land. Surround yourself by positive mental images of your goals.Don't under-estimate how strong goals can be in maintaining a positive mental approach to your business! • Goals are powerful tools if they are used effectively.
Surveys • Surveys are a great activity for prospecting. It's like an extension of ‘Prospecting with No Limits’ which we talked about in Module 4. You talk to people you meet in the street, but because you are there in a professional capacity, and you can hide behind a clip board, it can be a less intimidating method of approaching people. It is very important to keep the survey to a maximum of 30 seconds. This will keep your prospects attention and means you can catch a lot of people. When you stop people you could ask questions like;“Would you answer a 30 second survey on job security?”Are you satisfied and happy in your job? • Do you believe you have a secure income for the future? • Are you aware there are ways to earn an extra income around your work commitments? • Would you be interested in some free information?
Surveys • Or,“Would you answer a 30 second survey about your dream holiday?” • Do you like beach holidays, action holidays or winter sports? • How many weeks a year would you like to holiday for? • Would you be prepared to work from home for a few of hours a week to save the money for your holiday? • Would you be interested in some free information? • Other questions you could ask, • What is your ideal car? Do you drive it? • Do you live in a perfect house? • Are you debt free?
Surveys • You can either give them the pen and clip board and let them write the answers, (Catch several people at once. Have several clip boards) or you can ask the questions yourself. Once they have completed the short survey, if they would like information request their name and phone number, then give them your opportunity information. Not everyone will give you their telephone number but you can follow up the ones who do.Surveys are brilliant because you can do them in your lunch hour, on the High Street, outside train stations, or anywhere there is good traffic of people.However, if you do them in shopping centres or privately owned facilities make sure you ask permission from the owners / security.
Job Wanted Section of Newspapers • Find the ‘jobs required’ section in your local newspaper. If someone is looking for a plumbing job, etc, call them and say,“I understand you are looking for a plumbing job. I am not looking for a plumber, but I am looking for people who want to work from home, either full time or part time. There are excellent prospects for the right people.Are you interested in seeing some free information / looking at my website?”
Posters • You need to be careful where you put posters because fly posting on public property like lamp posts is illegal, however, there are plenty of places you can get permission to place posters, totally free of charge.Local shops will often allow you to put a poster in the window of their shop. When you go into chip shops, charity shops, your local butcher, Indian, Chinese and pizza takeaways and restaurants, local grocer shop, chemist, and many more you will often see poster adverts for travelling fairs and circuses, and sometimes other things as well. These shops are your prime targets. If you ask correctly they will also hang your A4 poster, promoting your opportunity, in their window free of charge.
Posters • Make sure you speak to the shop owner. You are targeting local community shops so tell them you are helping people in the local community to find jobs or increase their income. For good measure, also add that if people have more money to spend there is a good chance they will spend some of it buying take away the proprietors shop or eating in their restaurant. You can even go one step further and ask the proprietors if they would mind placing a flier in the takeaway bag, carrier bag or giving one when someone pays in the restaurant after the meal. Finally, don’t forget, owners of local shops are often struggling financially themselves and they may show interest in what you are doing.
Car Sign • Car signs don’t have to be expensive or flashy. The professional look is always good, but hand written actually works just as well. In large letters, write or print your advert on A4. Hang in your back and rear windows (making sure you can still see to drive properly). Bright coloured paper is more effective, but white is good. While you are shopping, doing surveys, or spending time with the kids, your car ad is working for you. How many people will go past your car and read that advert? To make it even more effective, staple 2 business cards together leaving the top open and fan a few extra cards inside. Attach to the outside of the window under your advert when your car is parked in public. This makes it easy for people who are interested to take your contact details. (Also can be used anywhere you can attach with blue-tac)
