MLM Training: An Easy And EFFECTIVE Way To Answer The Question: "How Will I Make Money?"
Tim Sales
November 06, 2008
Have you ever had the experience where your prospect balks when you show them your compensation plan? Whether the plan is confusing or hard to believe, don't set yourself up for an immediate objection. Keep reading to learn techniques on how to explain your plan without losing prospects.
Following is an email from a www.FirstClassMLMTools.com website visitor:
"Hi Tim,
Just one area makes me trip over my tongue. I'm still getting confused on how to explain how the prospect makes money; for example, if their need is for $5000 a month. Didn't you say not to talk in terms of monthly income or else you'll get the pyramid objection?
Thanks very much,
Paula"
Tim's response:
Thank you for your question.
Let me back up a little and go over the background of this. In my Professional Inviter CD training, I explain that if on the invite call you mention a monthly income, you're likely to draw out the, "Is this one of those pyramids?" objection, a common barrier to MLM success.
As an example, if I'm calling John and say to him, "I've got a business where people are earning upwards of $10,000 per month, would that interest you?" That invite question in my experience will cause a person to ask if it's a pyramid. To prevent this objection, I simply changed the invite script so that I don't mention a monthly income.
As you may know from listening to the live calls in Professional Inviter, I rarely mention income because I'd rather focus on the prospect. But if I do mention anything about income, I will use an ANNUAL sales volume. Which might sound something like this: "My business partner does about two million in sales per year and he takes home about 5% of that." The amount is about the same ($8,300 a month), but just shifting from saying monthly income to annual sales volume most often prevents the pyramid objection.
And now, to answer your question:
During the the invite call, if the prospect tells you they need to "replace an income of $5,000 per month," you are not wrong to discuss monthly income. Although, I'd recommend you answer this in a very general way. Something like, "Good. That is certainly doable here." Then continue with the invite.
If after they've viewed content about the industry, your products and company and they ask, "How do I replace $5000 per month?" you would then say something like, "I will explain this in more detail during your training. But the way you will replace $5000 per month is by getting a few customers and then training sales reps to get customers, in the same way that every other business grows."
So to conclude, if you must mention income, don't use monthly income in your invite script, instead use ANNUAL SALES VOLUME. If the prospect states that they need to replace a certain monthly income, tell them that it's achievable, but try not to get into a discussion about the compensation plan on the invite call. After they've viewed information about the industry and company, then you can discuss how they can achieve the income they've mentioned, but still keep it short and not confusing.
I hope this helps,
Tim Sales
Following is an email from a www.FirstClassMLMTools.com website visitor:
"Hi Tim,
Just one area makes me trip over my tongue. I'm still getting confused on how to explain how the prospect makes money; for example, if their need is for $5000 a month. Didn't you say not to talk in terms of monthly income or else you'll get the pyramid objection?
Thanks very much,
Paula"
Tim's response:
Thank you for your question.
Let me back up a little and go over the background of this. In my Professional Inviter CD training, I explain that if on the invite call you mention a monthly income, you're likely to draw out the, "Is this one of those pyramids?" objection, a common barrier to MLM success.
As an example, if I'm calling John and say to him, "I've got a business where people are earning upwards of $10,000 per month, would that interest you?" That invite question in my experience will cause a person to ask if it's a pyramid. To prevent this objection, I simply changed the invite script so that I don't mention a monthly income.
As you may know from listening to the live calls in Professional Inviter, I rarely mention income because I'd rather focus on the prospect. But if I do mention anything about income, I will use an ANNUAL sales volume. Which might sound something like this: "My business partner does about two million in sales per year and he takes home about 5% of that." The amount is about the same ($8,300 a month), but just shifting from saying monthly income to annual sales volume most often prevents the pyramid objection.
And now, to answer your question:
During the the invite call, if the prospect tells you they need to "replace an income of $5,000 per month," you are not wrong to discuss monthly income. Although, I'd recommend you answer this in a very general way. Something like, "Good. That is certainly doable here." Then continue with the invite.
If after they've viewed content about the industry, your products and company and they ask, "How do I replace $5000 per month?" you would then say something like, "I will explain this in more detail during your training. But the way you will replace $5000 per month is by getting a few customers and then training sales reps to get customers, in the same way that every other business grows."
So to conclude, if you must mention income, don't use monthly income in your invite script, instead use ANNUAL SALES VOLUME. If the prospect states that they need to replace a certain monthly income, tell them that it's achievable, but try not to get into a discussion about the compensation plan on the invite call. After they've viewed information about the industry and company, then you can discuss how they can achieve the income they've mentioned, but still keep it short and not confusing.
I hope this helps,
Tim Sales
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