Top Earner Recruiting: What to Say When They Don’t Have The Money
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Top Earner Recruiting:
What to Say When They
Don’t Have The Money
It is one of the more common and tougher MLM objections to overcome, what do you say when they tell you they don’t have the money? This post from my top earner series will help.
They Are Almost Always Lying to You
Know that most of the times when someone tells you they don’t have the money, they are lying. They do this mainly for a few reasons:
1. They believe it is an MLM objection that you cannot overcome, thereby, it’s really them blowing you off.
2. You have not placed your opportunity into a section of their brain that they classify as something they want or need to solve their problems or help them achieve their desires.
3. They see you as pitching them something to purchase of which they don’t have “extra” money. You want them to see your opportunity as something that actually helps them that they WANT.
Top Earner Secrets of Closing the Sale
So, in this post I am going to share with you three ways to combat this objection. If you get stuck at THIS objection, you will recruit at least 20% fewer people that you would if you COULD answer it. Here are three top earner responses to when they tell you they don’t have the money:
1. Just curious, if you had worked out the money, what would have been the biggest factor that helped you come up with the money? This will get their brain thinking about raising and coming up with money versus their current stance of not having any.
2. I appreciate that AND in spite of not having money, isn’t the real question how you can start enjoying the benefits NOW without suffering any longer? This gets them to see that they ARE suffering without your solution, and, everyone wants good things now, not later.
3. Let me ask you this, if you had the money would you move forward? If they say no, this will help you find out the real objection. If they say yes, do this…
Have them pull out a piece of paper and write at the top, I am so happy and grateful that I joined _________ (insert company name). Then, tell them to write 50 ways for them to come up with the money to join. For example, my company USED to be $495 to join but currently is only $119. So, I would tell them to come up with 50 ways to come up with $119 and I help them get the list started, I tell them to write down 1. Have a yard sale, 2. Pawn some jewelry, 3. Borrow $20 from 6 people, 4. Borrow $40 from 3 people, etc and so forth. Tell them you will follow up with them in three days to get them started and send that energy into their efforts.
Driven people that WANT to make a change, WILL come up with the money. I would say we recruit about 70% of the people that originally tell us they don’t have the money, with these three top earner secrets, you can too!
Oh, by the way, stay tuned for my brand new upcoming book on Recruiting, it is going to BLOW YOU AWAY!
To Your Abundance!
Did This Blog Help You? If so, I would greatly appreciate if you commented below and shared on Facebook
Ray Higdon
Author of VMI – Think and Grow Rich for Network Marketers
Skype: ray.higdon
Email: RayHigdon@RayHigdon.com
I Show Network Marketers How to Recruit More Reps, Get More Leads and Become a Top Earner in Their Network Marketing Company.
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PS: My Very Best Webinar and Course on How to Recruit More Reps, Click Here for Access
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Very informative post, Ray!
Many times, if I feel that the money might be an objection, I’ll actually handle it in the beginning by saying something like this:
“Most people that see what you’re about to see get excited and join right away, but some don’t. They’d rather spend their money on beer, cigarettes, and lottery tickets then actually invest their money into something that can change their life.
Anyway, let me show you how this works…”
I know that we can’t ‘always’ know what the objection might be, but if we can get a good idea, then we can handle the objection before it’s ever an issue
Looking forward to the book, my friend!
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Very good post Ray.
I use similar techniques and finish off by saying “if you don’t have x dollars to do whatever you want with, do you truly believe that what you have been doing up until now is what will get you what you want for your life and for your family?”
Usually this gets people to think seriously and most of the time end up joining my business.
Have fun!
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Hey Ray, you can write a million ways on overcoming the, I don't have the money objection however, as the saying goes, you can lead a horse to water but you cannot make him drink it. People must convince themselves that your product or service is the best thing for them, i strongly believe that if you bust do a hard close on them them they are not convinced. In that case, if you do close them with a hard close they will only be wasting your time. I'd say move on to the next one.
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Leigh Ellis Reply:
February 19th, 2013 at 10:37 am
Hi Cristobal, I do agree with the saying,
“You can lead a horse to water but you can’t make him drink.”
However, I do believe that you can salt their oats and make them thirsty – just some food for thought
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Leigh Ellis Reply:
February 19th, 2013 at 3:51 pm
Hi Cristobal, I do agree with the saying,
“You can lead a horse to water but you can’t make him drink.”
However, I do believe that you can salt their oats and make them thirsty – just some food for thought
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Ray Higdon Reply:
February 19th, 2013 at 4:31 pm
Like Leigh said, which, I think he got from my training =), you can make people thirsty by salting their food. Asking them WHY is a powerful way to do this. That being said, no one recruits 100% of the people they talk to, certainly, but I am willing to bet that there are MANY people that would join if you simply asked them a few more questions. None of these are hard closes, if you have resistance to closes period, well, you won't recruit nearly as many people.
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Leigh Ellis Reply:
February 19th, 2013 at 4:37 pm
Well, it's also something I use to tell teenagers when I worked in youth ministry about talking to others about Jesus
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Cristobal Valdes Miranda Reply:
February 19th, 2013 at 4:54 pm
Once again you are force feeding, that thirst will soon be quenched, in the long hall it never works. If you genuinely created a need fir your product or service you will never have salt their oats
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Leigh Ellis Reply:
February 19th, 2013 at 5:23 pm
Forgive me if I'm wrong…
But wouldn't creating a need for your product or service be classified as salting their oats?
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Ray Higdon Reply:
February 19th, 2013 at 7:35 pm
I brought in one of my top earners that way, been over two years. They have made me around $110,000 from them and their team
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Cristobal Valdes Miranda Reply:
February 19th, 2013 at 11:50 pm
Ok that's one. It's kinda like the gambler that brags about how much he made in one deal but forgets how much he lost prior to getting that one win. That's the way it is and you know it.
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Ray Higdon Reply:
February 20th, 2013 at 1:09 am
Yeah, disagree but certainly keep doing what you are doing if you prefer that.
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“Oh, by the way, stay tuned for my brand new upcoming book on Recruiting, it is going to BLOW YOU AWAY!” – I want that book Ray. Can’t wait.
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Great tips on recruiting ray. One question though, what's the retention of those people who originally told you they didn't have the money?
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Ray Higdon Reply:
February 19th, 2013 at 4:31 pm
Same as everyone else. No difference.
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Ray Higdon Reply:
February 19th, 2013 at 4:49 pm
And be careful judging those that reply with this, some of my top leaders have come from people who told me they were broke
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Love this! I don't think it's about a hard close or a close at all… it's simply conversation. There are a lot of people out there that have a hard time "imagining" anything other than their every day. If we really take what we do seriously, it's not about closing them… it's about helping them see the possibilities… the vision. That's it… if they don't want to move forward… at least we've done a great job offering people an opportunity to design their own life.
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Ray, one of the best responses I have heard is after they say that ask them, John let me ask you this, if when you go to your car and it doesn’t start and you get it towed to your mechanic and he says it will cost $300 to fix it what would you do? His response…get it fixed. I understand that we all need our cars in today’s society, but I’m perplexed. Correct me if I’m wrong, but didn’t you tell me not 5 minutes ago that you didn’t have $300 to get started and begin to work towards achieving (their goals)?
To me this really is a great way to bring out the fact that they can get the money, but as you say Ray they aren’t ready to part with it in their own mind.
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Ray Higdon Reply:
February 19th, 2013 at 2:40 pm
The reason I don’t like that approach, exactly, is they associate fixing a car with pain. I would prefer to associate it with pleasure but then ask the question of “How would you come up with the money” if you had to sort of thing
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Great tips today. I like that the main idea is to create a need in their minds, make them know that your product/service will take them where they want to go! Waiting for the book
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Thanks Ray.
Although I do not use a lot of objections, are resources that I learn from you just in case.
My way is to prepare the mind for my future partner to minimize the “no”.
I send a greeting from Spain.
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Great information here Ray Higdon thanks. I think this is THE top objection heard in most businesses. If they see value in what you are presenting, the money factor can be overcome. It is mostly about priorities. When a Starbucks drink cost $5 every day and they choose Starbucks, then we known their priorities. Give up a coffee to change your life – Yes please.
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The money excuse is an interesting one. I always watch and/or listen very closely when I ask the question about would they move forward if they had the money. If there are still other objections hiding behind the money excuse there is often a noticeable pause before they answer, sometimes with a little sigh followed by an extended word, something like… sigh….. weeeeeeeel. When I hear that I know that I have hit the real sticking point.
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Ray great tips ray and yes this did help me and I don't no about no one else because everyone is not going threw the same thing I am one of the peoples always saying that do not have the aymoney and maybe they can get in some other time and then when they get in complain the hold time about they have not made no money of when am I going to make some money most of the time they have not done anything to make any money so what do a person and then 2 or 3 months later they quit and I be trying to help them all I can but they need to do something for self so Ray I am waiting for right peoples someone that want to work and have something like myself and you just got to work for iti want some winning on my team Ray thank you. you always make me feel better about things and life.
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hey Ray these are some great tips. I ran into this quite often and this gives me more ideas! Thanks!
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Love it ray gods willing I will be a quick thinker like that soon…
Rob reeves
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Awesome recruiting tips Ray! Definitely will try this next time…
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More great content, Ray! Love the mindset shift stuff. Having done a bit of this on myself over the past year… I can attest to the fact that it works!
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nobody would ever give me money to borrow if I needed it for something important they might just give to me but if it was to take a small risk to join a business opportunity that may not work out they would tell me flat out no. my situation I would have to sell enough candles cause I have 0 jewlery and nothing of value or no unused appliances.
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Hi Ray,
I agree that driven people, when they can see the value of getting started, will come up with the money. Your questions are great ones as they help us sort out who are serious and who are not.
One of the most important skills is for us to pick up hints to determine if the person that we speak to are our ‘prospect’ or they are merely ‘suspects’ (thanks to those awesome terms used by Jeffrey Combs).
Viola The Business Mum
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Great post Ray! While truly driven go-getters don't need this type of spoon-feeding IMO, sometimes people do need some outside ideas that they didn't think of. I had suggested the "borrow $20 from X many friends" to one prospect for a high buy-in position in my company after he desperately wanted to do it for a few months but just didn't know how. A couple of weeks later he was in, and couldn't be happier for it!
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I just want to say this is magnificent. I enjoyed the blog. Thank you.
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Hey Ray! Good Stuff! I never heard you share this one before “tell them to write 50 ways for them to come up with the money to join” What a Great idea, get them thinking and coming up with their own solution Love it Have a Great Day Thanks for sharing Chery
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Thank You Ray.
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Most people will find the money if they get excited. So our job is to instil excitement (which is an art in itself). When I phone leads my goal is always to get the prospect excited. I do that by asking questions and finding out their hot button. Once I've done that it's simple to show them how my business will solve their problem. Excitement flows from there. I get more people chasing me, than me chasing them – which is the ultimate objective.
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Most people will find the money if they get excited. So our job is to instil excitement (which is an art in itself).
When I phone leads my goal is always to get the prospect excited. I do that by asking questions and finding out their hot button. Once I’ve done that it’s simple to show them how my business will solve their problem. Excitement flows from there.
I get more people chasing me, than me chasing them – which is the ultimate objective.
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