Generating prospects is one of the key steps to creating success in your business.
The more leads you find or the larger your database, the more people who are aware of your opportunity. This is a relationship building business.
Experienced, successful networkers often recommend that once you are fully acquainted with the systems available for your primary opportunity, once you have the support and guidance of your upline or mentors, it pays to allot say, 3 months, as a period for which you are prepared to give it everything you can throw at the business. This is the time for massive action recognizing that success breeds success and doing the numbers (strategically) will deliver results.
It is also often recommended that generating new prospects should be a daily habit and creating systems can better ensure it happens. Some software relevant to project management I refer you to is the Agile System.
Mike Dillard (Magnetic Sponsoring) describes the main occupation of network marketers as professional sorters. We share our opportunity with others and then sort through the wrong people to find the right ones!
There are two things to consider here:
1. Generating leads (warm, cool or cold) through massive tactical action
2. Pre-qualifying these leads, targeting your actions, focusing your efforts which is more strategic
To consider the first point, there are many different ways to generate prospects. Work with your sponsor or upline as your first step since there is no need to reinvent the wheel. Speak to successful people in your company and find out exactly what they are doing and then do the same.
We each know or come into contact with around 3,000 people who we can say also know us or know of us. We also meet new people often so our list never stops growing. This is a rich resource as it not only allows you to help a lot of people by offering your opportunity but because you know them, you can begin sorting for those with the most interest in your offer to reduce your workload.
The approach to this warm market is all important and if you think about it, how do you communicate with your friends about other great experiences? If you caught an awesome movie or had a terrific meal or whatever, do you approach them and pitch them a sales spiel on doing the same? No.
You just catch up and if they ask what you’ve been doing or in some subtle way bring up the subject and you can wax lyrical about the experience.
The difference between offering an opportunity and raving about a movie is that you are about to make a huge positive impact on your friend’s life. They may not realize it. You can’t force it. Here is where you need to recognize that you are investing in your friendship. You are building and strengthening that relationship. But give it time.
Our lives change frequently and while now may not be an appropriate time for a positive decision to grab the opportunity, it might be perfect in 5 months or more. Your task is to keep in touch and if the situation ever does match the need then you can help.
And this brings me to the next strategy. Education marketing.
This can be applied to your product or your opportunity but as your goal is most probably to help others earn a substantial residual income, I’ll focus on the business side of your primary opportunity. However, before I go there, I should mention that I take the high road with respect to the product in my primary opportunity. It happens to be the Rolls Royce of nutritionals with no other product even coming close.
I recognize that while 15% of people generally say they have an interest in good nutrition, less than 5% do anything sensible about it. By comparison, 95% of us are more likely to make a change in order to improve our lifestyle. This is the strategy behind taking prospects to my network-generic, ‘I Own My Life‘ website where I show the benefits of becoming a Global Lifestyle Trainer. This site effectively sorts for people who want to change their lives by starting a new business with You on the sidelines to help them. If anyone goes through my website and neglects to provide their phone number, I don’t email or bother following up. I see them as not ready, not open or simply not worth my time.
And some more statistics. Industry analysis shows that 80% of people in network marketing are happy earning from $250 to $1000 a month. Essentially an extra 2 weeks pay gives them a security blanket that reduces financial stress, covers some expense over-runs or helps pay off credit cards or mortgages.
Another 15% aim at earning between $10,000 and $30,000 a month. These people are lifestylers and often are bank-rolling a traditional business (at least until they realize their network business will out-perform their other venture by a long way) or they are moving up the socio-economic ladder.
Finally, the last 5% are the high rollers. They see $50,000pm as a stepping stone to six and seven figure revenues. These people are motivated to the point of being driven. They take action, amass teams of leaders and drive them hard, teaching them to connect, mentor and train, train the trainers to train and then do it again with others.
However, while you might be on the look out for the 5 percenters, the dollars are in the 80%. They still need to be coachable because you need the product flow through your business to pay the residual income on-going. They are also more approachable and in fact, you know them already. They are in your circle of contacts and all that is needed is to coax them out from your list of 3,000 names, call them and pass on your excitement about the business that you have found.
Remember. People buy You. They then want to know how You will support them and train them to do what You do. They need to feel and believe that THEY can do what You do. And lastly, they want to trust that THEY can earn what You say can be earned with your help.
I’ll follow up in another blog to cover some of the strategies you can use to leverage your time and efforts in reaching your best potential business partners so consider this article as Part 1.
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