The Four Network Marketing Lies That Are Killing Your Business
For millions around the globe Network Marketing represents a glimmer of hope. After all, a good Network Marketing business brings along wealth, success and freedom unimaginable to most business owners.
Most the most part, NWM is a sound business model that can create dramatic lifestyle changes.
So then, if the above statement is true, why is it that so many people fail?
The answer to that question can be found in the four NWM lies. But in order to get a clearer understanding, lets first talk about the concept of attrition.
Attrition is a word borrowed by the NWM industry to describe people who join a company and then quickly fall out. Quick attrition can be anywhere from the first day to the first year. However, attrition dramatically lessens for those who have battled it out and made it through their first year.
Now what does attrition have to do with the 4 NWM lies? Everything. The fact of the matter is that many people recruit others using one or more of these 4 lies. These falsehoods turn out to be the triggering device for most early-on attrition.
Lets now take a look at these dreaded communication mistakes and see how they can be effecting your success, and most importantly, how we can eliminate them and reach success all the more sooner.
NWM lie #1: False income expectations: False income expectations is probably the most used lie in NWM. It is often accompanied by it's first cousin, the unrealistic time frame lie.
Verbalized it sounds something like this, " In 2 months I was making $5,000 a month," or "In 6 months I reached the position of "Master of the Universe" and was making $10,000 a month."
Now that all may have been true. You may have very well done that. But that communication will now plant the seed in your prospect that will create a very unrealistic income and time frame.
Because you were able to achieve such an amazing result does not mean that the next person can. Whenever these words are spoken it almost always comes back to bite you.
The better approach is to give a low figure to begin with. A good habit to get into is to simply say, " I can show you a specific plan so that you can make $500 a month part-time. Once we reach that goal, together we will work on your first $1000 a month."
That is a huge difference in communication. It inspires trust and most importantly, it is doable. Don't think for second that people won't be interested in making an extra $500 a month part-time. $500 a month part-time can be a very attractive proposition, especially when you offer to show them how to double that into $1000 a month.
Bankruptcy statistics prove conclusively that an additional $200 a month would have avoided over 90% of U.S bankruptcies in 2005.
In addition, by setting the bar at an easy mark like $500 a month, when you do come across a heavy hitter, one of those 3% of people who take off running, and this person does make that big check his first month, you now look like a hero.
You could stop reading right now and if you begin formulating your communication in this form and your time would be well spent. But lets go on...
NWM lie #2 Exaggerated product claims: The second big lie is hyping your product to a point where people expect miracles.
For the most part, NWM companies have superior products. But with that said, avoid promising more than the product can deliver.
If your product is a weight loss product don't promise 30lbs in 30 days even if there is overwhelming evidence. Let the customer or recruit experience the results themselves.
That way they are coming back to you raving about the product. This type of excitement brings about customers that can't stop talking great things about your products to everyone. This is Network Marketing the way it is supposed to be.
As opposed to giving a prospect a hyped up expectation and then having them not meet what you drilled in them. What do you think they will be saying to all their friend and family about you and your product? The exact opposite of what you want.
It seems these days that over zealous companies and representatives are out to prove their superiority. It's great to have pride in your company and products. Just watch what you say.
If your product has shown to be beneficial to a particular condition, by all means point that out. But also make sure to communicate the fact that everybody is different. And at no time make any statement that your product can treat or cure a disease. That can get you and your company in a lot of trouble quickly.
The way to get around this second obstacle is to use curiosity. Master the question, "Why don't you try it and see the results for yourself?"
Educating your customers and reps with the benefits of your product, and following up with that question not only creates sales, it also implants a mental suggestion that gets the person alert to the benefits.
This subtle approach creates a long term belief in you and your product.
NWM lie #3: This is the world's easiest marketing plan.
This is another big one. You see them on magazines, emails and TV infomercials.
You've heard it before, "All you need to do is get two people, who go out and get two people and before you know it you have hundreds in your sixth level."
Yes, theoretically it is true. You can sit down and sketch it out on paper. It may even sound totally logical. But the facts are that it rarely happens as easy as we would all like.
The reality is that you have to go through a lot of people to find those first two serious business builders. You have to go through a lot of rocks to find that one diamond.
When you plant lie #3 in a prospects mind you set the stage for massive frustration.
A much better approach is to lay the cards down accurately and then challenge your prospect. A home NWM business brings with it total time freedom, huge financial rewards and unlimited opportunities for growth. Your job as a master recruiter is to plant those benefits with such beauty and appeal that the challenge to find the right people is greatly outweighed by the rewards.
A simple way to accomplish this is by painting an irresistible picture of what will be achieved by a successful NWM home business and then ask, "Would you be willing to ask 1000 people to take a look at your business if you could achieve all the success we just talked about?"
If you get an answer other than an enthusiastic "Yes," you either have a poor prospect, or you haven't painted a vivid and compelling enough picture of the benefits.
Either way, this method of sorting guides you to who is serious up front. In addition, this give the prospect a long term perspective, minimizing attrition.
NWM lie #4: "It only cost xxxx dollars a month."
If you are seeking serious player it is of utmost importance that you be upfront about the realities of this business.
The product consumption is only one part of the true expenses incurred in this type of business. You have business cards, marketing materials, training materials, websites, leads and more.
The danger of quoting your monthly consumption as your only expense is that you position the prospect as a customer, instead of a business builder.
Customers are important, but business builders lead to wealth. Serious business builders are a significant level above customers.
If your intent is to recruit a business builder, demonstrate the tax benefits involved in the cost of running your home business.
For many the tax benefits alone are a very attractive draw for joining your opportunity. The key point to get across is that this is a true business. That being the case, there are some expenses in order to effectively run a profitable home business.
To summarize, the four NWM lies are devastating illusions that will destroy your credibility and your business. The key to building a strong team of true business builders is to use truth and help prospects see the benefits inherent in this business.
Your recruiting numbers may dip a bit, but your retention and the quality of your team will raise beyond your expectations.
The truth can set you financially free.