Cash is bad … for using as a premium or incentive.
If you give a cash bonus, a cash prize or a cash incentive, here is what happens:
The recipient spends it!
The recipient will spend the cash on groceries, a credit card bill, or this month’s mortgage – and your cash is quickly forgotten.
Instead of offering cash, offer something with long-term memory value.
For example, give a trip. The memories of a trip will last a lifetime – and the memories are always associated with you.
Give them a children’s book. Every time their child reads the book, they’ll think of you.
Give a memorable evening out complete with a limo, a nice meal, and a show.
Give a banquet in their honor.
Give a watch, a special pendant, clothing, a plaque, or anything that has longer-lasting memory power than cash.
You’ll want the maximum leverage from your premium or incentive.
“A penny will hide the biggest star in the universe if you hold it close enough to your eye.”
— Samuel Grafton
(Yeah, my job is pretty secure, and it pays well, so why should I look at a better opportunity?)
The most important part of getting referrals is letting the people who are giving the referrals know how you’re going to approach their friends.
Assure the person giving the referrals that you will be giving a short, no-pressure presentation – and then allowing the referrals to make a decision based upon what’s best for them.
Network marketing brought the promise of residual income to people who weren’t authors or famous singers. In the hype of quick or big bonus checks, we tend to forget that residual income is one of our finest assets in this business.
There is no residual income from our jobs, and most businesses stop as soon as the owner stops day-to-day managing. Network marketing can give us that chance to enjoy getting paid now for work we did in the past. Don’t forget to mention that to your next prospect.
Try asking this question with difficult prospects:
“How long can you wait?”
When a prospect says that he doesn’t have time to build a business, but wants to earn $10,000 a month, ask him how long he can wait until he starts earning $10,000 a month.
He might say that he needs to work on earning more income now. Or, maybe he says that he can only wait six months or a year, but he knows that he eventually has to earn more money.
This question makes the assumption that the prospect will join, and that his only decision is how soon to join. It certainly makes the prospect think of the consequences of not joining – never having that increased income.
A distributor comes to you and says:
“I can’t find anybody to talk to. Where can I find some good prospects?”
You know this distributor is clueless. Hasn’t got a chance. Doesn’t even know the first set of skills for his network marketing business.
He has already talked to good prospects, but has ruined them by saying the wrong things. And now he wants new people to ruin?
When you try to get him to learn the basic skills, he protests by saying things like:
“You can’t say the wrong thing to the right person.”
Well, I know I have said the wrong things to the right people and they didn’t join. But, the distributor insists on spending money and hours of wasted time and frustration looking for new people to ruin.
I guess someone needs to sit down with the new, clueless distributor and have a heart-to-heart talk about prospecting.
Distributors only have time to complain when they don’t have enough prospects to contact.
Where should you look for prospects? Good prospects? The kind of prospects that join?
Simply look at where you enrolled your last five distributors. Where and how did you meet these prospects?
Success leaves clues.
So instead of finding new and unique places to locate future distributors, go back to where you located the last five distributors.
But failure leaves clues also.
Take a look at why your last five prospects told you they weren’t interested. Was there a common theme? And where did you locate these uninterested prospects?
Many times we are standing too close to our successes and failures. We need to step back and observe to see if there are clues.
“Don’t look a gift horse in the mouth, but do check for Greek soldiers elsewhere in its anatomy.”
Yes, we should be open-minded, but not so open-minded that our brains fall out. A little common sense goes a long way in our business.