Handling Objections: I Don’t Have the Money to Get Started
Category : Network Marketing
Congratulations! You’ve just put your prospect through the majority of the Network Marketing system. You’ve invited them to see your opportunity and you’ve presented that opportunity to them.
This is where objections usually come up. For this post, I want to tackle the money objection. That’s when your prospect says something to the effect of…
“Tyler, everything looks great and it all makes sense to me. I just don’t have the money to get started right now.”
Just like with every other objection in the book, there are only two reasons prospects put up any hesitation about your opportunity. First, they might have reservations about Network Marketing as an industry and its sustainability. Second, they may have doubts about their own ability to create success in this business.
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Very rarely do they not have the money to get started. In the US, most states mandate that the startup cost has to be below a certain dollar amount. That being the case, 9 times out of 10, prospects actually DO have the money. Most people use the money objection as an excuse so they don’t have to actually tell you no.
There’s a quick way to find out if your prospect is being genuine or not. Say something like this…
“So, what I hear you saying is, if you had the money to get started right this second, you would do it without hesitation?”
Their response to this question will tell you where their true feelings lie. If they say yes, then it’s honestly about the money. More often than not they will bring up some other objection and then you know they’re just making an excuse not to join you.
Another thing I like to say to prospects with the money objection is…
“If I said I would hand you the keys to a Ferrari right now and all you had to do is give me the same amount of money that it takes to start your business, you’re telling me that there’s no way that you would try and find the money somewhere?
In Network Marketing that’s exactly what we have on our hands. Shoot, with this business, you can earn enough to buy yourself 10 Ferrari’s and much more. Unfortunately, not everyone has that kind of vision.
If it’s truly a money issue and the prospect is driven and willing to go to work, then I treat them as if they had just enrolled into the business. We go out and start building. I give them some assignments and see how they respond.
The way you talk about the opportunity or market the product/service really has nothing to do with whether or not you have a distributor ID number. What matters are the skills you learn and the actions you take. You can do those things without actually being enrolled in the business.
From there, I show the prospect how to work their list and get their first paycheck. Once they have taken the action items necessary to get themselves paid, they can find a way to get the money. It makes them feel better about the situation because, this way, they will get a check once they hit the enroll button because of the work that they’ve already done.
Overall, handling the money objection is pretty simple. Find out if the objection is genuine. If it is, take them through the same process you would a new distributor. Teach them how to generate a check, then get them enrolled and paid. Simple.
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In the video below I go into a bit more detail about how to handle the objection when your prospect says that they don’t have the money top get started. If you get some value out of it don’t forget to subscribe to my Youtube channel and share it with a friend!
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