Why Do People Use This MLM Objection?
First thing you need to understand, is that people use this common MLM objection because they don't believe they can succeed in your business. Or, they are not "feeling it" so to say.
This is something you must work on and practice at to avoid the objection, and sooner or later you will begin hearing it less and less. But, the other truth is there is no way to make it go away all together.
So knowing what to say when it does come up can increase the number of people using the network marketing objection into signups.
How To Handle The Objection
When someone throws the line at you "I don't have the money", it means one of two different things. Either they seriously do not have money (very rare is this case) or they are thinking of it as an extra cost to their already large monthly spending.
So the best response to this network marketing objection would be "Are you saying this because you want in? Or are you wanting out?"
Now this throws a question onto the prospect, putting control in the conversation back to you. Plus, they either admit they are not interested, or they are not clear on how they can afford it.
If they say "to get out" then you saved yourself a lot of time. Do not try to make them change their mind, they are not going to. Simply thank them for their time and move on. A few will change their mind once they see you are not in need of them signing up.
If they say "To get it" then you ask them "How far are we from getting X amount of dollars"?
This means they either have money saved up, and only need the difference. It makes the task much smaller and more realistic to the prospect. Some may only need a few dollars more to get started.
Once you know the amount they need to find to get the money, you focus on their spending habits. You will find most people spend a lot of money on simple everyday things, entertainment, and sources they do not need for any reason. You eliminate those costs and then they realize they do make enough money to join.
If your product fills a need they already spend for, then bring that up. Using the product will keep you from spending X amount of dollars each month on whatever the product is. Many MLM companies have products people already buy on a day to day basis.
How To Handle More Network Marketing Objections
If you want to be a master at sponsoring more people, and overcoming objections, I recommend you check out the #1 income earner Ray Higdon's "Master Sponsoring Series" training.
In this you will learn all about network marketing objection handling, and more tips to increase your skills as a prospector and recruiter.
Want More Strategies For Prospects?
If you want to learn how to find more prospects, strategies to generate more leads, and make a name for yourself in this industry, then register for the next upcoming "IBO Advanced Marketing Strategies"
On these weekly webinars you will learn every type of strategy to generate leads, network marketing objection handling, prospecting tips, advertising online and offline, plus a lot more.