Hey gang! So how many times has this happened to you? You give someone an out-of-the-ballpark presentation about your product or network marketing opportunity and at the end, just when you’re ready to sign them up and rush home to celebrate, they hit you with those four little words we all dread, “I don’t have the money.” ARGH!
As my good friend Mark Hoverson puts it, if someone tells you they don’t have the money, they you have given them a bad offer. Simple as that. I never take “I don’t have the money” as an objection. I see it as I’ve not lightened the money load. Mark uses a Bentley as a great example. If someone drove a Bentley into a convention, a brand new one worth about $350,000, and said they wanted to sell it for $10,000, how many people do you think would not be able to figure out how to get their hands on 10K and quick? Of course the flip side of that is if someone drove in a banged up 1973 Chevy Vega and wanted to sell it for $100,000. Probably not many takers, don’t you think?
Are you offering a Bentley or a Vega? You know, your offer is like a teeter-totter. There’s the money on the one side and the content you’re offering on the other. Make the content side heavier and the money side lightens.
If someone says they don’t have the money, why not sweeten the pot and offer them a cash bonus from your own pocket for every referral? Now, I’m not saying go against the rules of your company, but there are ways to make your offer more valuable. For instance, if your prospect says they don’t have the time to learn all there is to know about your opportunity, then offer to come and train them in person…for free. That should probably be part of every offer you make anyway. Training is so important, but we’ll leave that for another post.
“I have no money” is a great opportunity for you to learn where you’ve mis-stepped. Maybe they don’t believe in the company. Maybe, just maybe, they don’t believe in you. Find out what their objections really are and overcome them. Be the leader they’re looking for, sweeten the pot, and grow your business like crazy!
Make ’em an offer they can’t refuse, and you’ll be helping your prospect and yourself.
Now go out there and give someone an AWESOME day!
Great blog Casey! So true.
I love the Bentley example – makes perfect sense!
GREAT INFO Casey!! Thanks for being the perfect mentor!!
Love the post! That is such a common “reason” to not get started, but it’s up to us to provide the value to make the cost (investment) look low to the prospect.
Casey, I was listening to some Brian Tracy training about dealing with objections and this one that you spelled out is one of the most common. What he said that the prospect is really thinking is “I don’t see the value.” You are so right that they do possibly have the money, it is just a matter of what is presented before them is of higher perceived value than the money exchanged. Most network marketing companies have offers of less than $500. And we can’t say that people aren’t willing to spend less than $500. In fact, I would venture to say that most americans are willing to exchange $300-$500 plus have a monthly autoship of around $100 if the value is right. Don’t believe me? Ever heard of Apple? Have any idea of how many iPhone’s are out there? I will help you. There are 100,000,000 active iPhone usuers. People sleep on the sidewalk to give Apple money and have a huge monthly bill. Why is that? Because the value seems like a no brainer. Great post Casey.
Clinton~~ You hit it right on the head. Most people are out in the marketplace trying to sell a widget for X price and forget that the person on the other end really holds the cards until more value s given to the point the money actually becomes “light”. Even something as little as an extra report, a free download or even a few extra samples may be all that is needed to make the sale. Give them tons of extra value and content and they will come back over and over. Thanks Clinton for your time and value add!