MLM Recruiting How To Handle I Don’t Have The Money Objection
Unfortunately most of the time when your prospects tell you that they don’t have the money, they are lying to you. This is something you need to understand so that you can professionally handle this objection like a pro.
How To Handle The Money Objection
If your prospects are telling you that they do not have the money, like I said previously they are probably lying to you. The odds are they do they really do have money, they just do not see they have the extra money and nor do they see the value in the opportunity.
Now how do you reply when someone says that to you. Well as we all know we are not going to tell them that you think they are lying. The way I like to handle this objection is simply asking, with a smile on my face- “Hey, (prospects name) like to ask you a question, are you seriously trying to get in or get out?” What I mean is if you have the money is this something you honestly want to join? Or are you just being nice and just saying you don’t have the money because you really are not interested in joining?”
Once you have asked them that question, if they reply “Yes I am serious I really do want to get involved.” You then want to clarify, by saying for example- “So what you are telling me is that you do not have $xxx in your bank account or on a credit card, is that correct?”
Now that you have reconfirmed they do want to join but they are saying they do not have it in their bank account or on a credit card, you want to follow with this question from the master recruiter Cesar Rodriquez- How far off are we? This is very powerful because now you can determine exactly how much money they really need to come up with. For example, if it cost $500 to join your opportunity and the prospect says that they only have $350 then you are now battling with $150 instead of $500. So at this point ask them to confirm, so you are saying you have $350 so now all we need to do is figure out how you can come up with $150. Much easier to deal with.
When you get your prospect to thinking about the lesser number a lot of times they will come up with it, or give you a time when they will have the additional $150.
Approach 2: How To Handle The Money Objection
This method comes down to getting specific with your prospect and learning to ask questions in advance. You will find that rarely is it that the prospect does not have the money, they have just allocated their money to other areas, such as going out on the weekend, a sporting event, concert, etc. The truth of the matter is that they simply do not see the value in joining you in business at the current time.
You want to qualify the prospect before you even show them your opportunity. After you have invited your prospect to look at your opportunity, and they have said YES, then you need to ask a few questions.
Question 1. Ask your prospect “Why are they looking?” This can give you an idea of the problems they may be having in their life. This approach is going to allow you to be a problems solver, not a salesperson.
Question 2. Be honest and let your prospect know that when looking at an opportunity that there is some cost involved. It cost money to start any business, and money to run that business, especially to be able to get the business in front of enough people. Here is the question you can ask next. “After all your monthly expenses are paid, and you have put food on the table, what have you set aside to build a business?” This is the answer that will tell you If the have the money to join your opportunity if they like what they see. If their answer is “Well I really don’t have the money and that is why I am looking for an opportunity.” This is definitely not the answer you want to hear. You may just want to walk away because this person is going to make it really tuff on you. They won’t have the money for events, if your company has a required auto-ship, they won’t have the money, they won’t have the money for samples etc. I completely understand we want to help everyone, but a lot of times it is better to walk away as to have the person invest and not be successful. Now on the flip side of that I have heard of people being hungry enough and coachable that they just blow it up from the start, but that is not always the case, so you will have to learn to judge each one on a case by case bases.
All I am saying here is that you are a business owner and businesses cost money period. If your prospect is Not ready, be honest enough and tell them they are not ready. If the prospect gives you the right answer you can move on and expose them to your opportunity.
By qualifying your prospect prior to exposing them to your opportunity you will not hear the “I don’t have the money objection.”
In conclusion, the money objection more often than not is not real. If they needed the money to see a movie they really wanted to see they would find it. If they needed the money to pay for the (Income Reducer) aka TV they would find it. If they see enough VALUE in what they are looking at in your opportunity and they Believe that it can help them, THEY WILL FIND THE MONEY PERIOD!
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