For millions of people around the world, network marketing represents a ray of hope. After all, a good network marketing business brings unimaginable wealth, success, and freedom to most business owners.
For the most part, NWM is a solid business model that can create dramatic lifestyle changes.
So if the above statement is true, why do so many people fail?
The answer to that question can be found in the four lies of NWM. But to get a clearer understanding, let’s first talk about the concept of wear.
Attrition is an industry borrowed word from NWM to describe people who join a company and then quickly leave. Rapid attrition can occur from the first day to the first year. However, attrition decreases dramatically for those who have struggled and made it through their first year.
Now what does wear and tear have to do with the 4 NWM lies? All. The fact is that many people recruit others using one or more of these 4 lies. These falsehoods turn out to be the trigger mechanism for most early defections.
Now let’s take a look at these dreaded miscommunications and see how they can affect your success, and more importantly, how we can eliminate them and achieve success much sooner.
NWM Lie #1: False Income Expectations: False income expectations are probably the most widely used lie at NWM. He is often accompanied by his first cousin, the unrealistic time frame lie.
Verbalized it sounds something like this, “Within 2 months I was making $5,000 a month” or “Within 6 months I reached the position of “Master of the Universe” and was making $10,000 a month”.
Now that all may have been true. You may have done very well. But that communication will now plant the seed in your prospect that will create a very unrealistic income and time frame.
Just because you were able to achieve such an amazing result doesn’t mean the next person can. Every time these words are spoken, she almost always comes back to bite you.
The best approach is to give a low figure to start with. A good habit to get into is simply saying, “I can show you a specific plan so you can earn $500 a month part time. Once we reach that goal, we’ll work on your first $1,000 a month together.”
That’s a big difference in communication. It inspires confidence and, more importantly, it’s doable. Don’t think for a second that people won’t be interested in earning an extra $500 a month part time. $500 a month part time can be a very attractive proposition, especially when you offer to show them how to double that to $1000 a month.
Bankruptcy statistics conclusively prove that an extra $200 a month would have prevented more than 90% of US bankruptcies in 2005.
Also, by setting the bar at an easy mark like $500 a month, when you meet a heavy hitter, one of those 3% of people who run out, and this person makes that big check in their first month, you now look like a hero.
You can stop reading right now, and if you start to frame your communication this way, your time will be well spent. But let’s continue…
NWM #2 Exaggerated Product Claims: The second big lie is promoting your product to the point where people expect miracles.
For the most part, the NWM companies have superior products. But with that said, avoid promising more than the product can deliver.
If your product is a weight loss product, don’t promise 30 pounds in 30 days, even if there is overwhelming evidence. Let the client or recruit experience the results for themselves.
That way, they will come back to you excited about the product. This kind of excitement creates customers who can’t stop saying good things about your products to everyone. This is Network Marketing the way it’s supposed to be.
Instead of giving a prospect an exaggerated expectation and then having them renege on what you instilled in them. What do you think they will tell all their friends and family about you and your product? The complete opposite of what you want.
It seems that these days companies and enthusiastic representatives are willing to prove their superiority. It’s great to have pride in your company and products. Just watch what you say.
If your product has been shown to be beneficial for a particular condition, by all means state it. But also be sure to communicate the fact that everyone is different. And at no time make any claim that your product can treat or cure any disease. That can get you and your business into a lot of trouble quickly.
The way to get around this second hurdle is to use curiosity. Master the question: “Why don’t you give it a try and see the results for yourself?”
Educating your customers and reps about the benefits of your product, and following up on that question, not only creates sales, but also implants a mindset that alerts the person to the benefits.
This subtle approach builds long-term trust in you and your product.
NWM link #3: This is the easiest marketing plan in the world.
This is another big one. You see them in magazines, emails, and TV infomercials.
You’ve heard it before, “All you need to do is get two people, who go out and get two people and before you know it you have hundreds on your sixth level.”
Yes, theoretically it is true. You can sit down and draw it on paper. It may even sound totally logical. But the facts are that it rarely happens as easily as we would all like.
The reality is that you have to go through a lot of people to find those first two serious business builders. You have to go through many rocks to find that diamond.
When you plant lie #3 in a prospect’s mind, you set the stage for massive frustration.
A much better approach is to place the cards accurately and then challenge your prospect. An NWM home business brings complete time freedom, tremendous financial rewards, and unlimited opportunities for growth. Your job as a master recruiter is to seed those benefits with such beauty and appeal that the challenge of finding the right people is far outweighed by the rewards.
A simple way to accomplish this is to paint a compelling picture of what a successful NWM family business will accomplish, and then ask, “Would you be willing to ask 1,000 people to take a look at your business if you could achieve every success? ” We just talked?”
If you get anything other than an enthusiastic “Yes,” you either have a bad outlook or haven’t painted a vivid and convincing enough picture of the benefits.
Either way, this ranking method guides you to who is serious at first. Additionally, this gives the prospect a long-term perspective, minimizing attrition.
NWM Link #4: “It only costs xxxx dollars a month.”
If you are looking for a serious player, it is of the utmost importance that you are honest about the realities of this business.
The consumption of products is only part of the true expenses incurred in this type of business. It has business cards, marketing materials, training materials, websites, leads, and more.
The danger of listing your monthly usage as your only expense is that it positions the prospect as a customer, rather than a business builder.
Customers are important, but business builders lead to wealth. Serious business builders are a significant level above clients.
If your intent is to hire a business builder, demonstrate the tax benefits involved in the cost of running your home business.
For many, the tax benefits alone are a very attractive draw to join your opportunity. The key point to convey is that this is a real deal. That being the case, there are some expenses to actually running a profitable home business.
In short, NWM’s four lies are devastating illusions that will destroy your credibility and your business. The key to building a strong team of true business builders is to use the truth and help prospects see the inherent benefits of this business.
Your recruiting numbers may drop a bit, but your retention and the quality of your team will exceed your expectations.
The truth can set you free financially.
