Objection - Handling

Objection handling Every genuine objection is an opportunity to close the deal. This is because if the objection is successfully handled, the obstacle which has troubled the prospect will have been removed. The key is to recognize whether the objection is genuine or an excuse to avoid. Experience will give you this insight (i.e. whether the objection is genuine or not) but there are several tell-tale signs: e.g. if you have successfully handled the “coin too expensive” objection, the prospect might come back with trivialities like “How can I be sure that the coin is 24 kt.” or “how “I have never heard of GoldQuest as a leading numismatics company” or “Why does it take so long for the coin to be delivered” and so on and so forth through an endless list of excuses. A ‘no’ from a prospect is symptomatic of a deeper conflict and usually means one of four things: 1 Fear of failure 2 Fear of rejection 3 Low self-image 4 Misconceptions based on ignorance, not facts. If your prospect is totally negative, there is nothing you can say that will make him change his or her mind, so the best thing is to change prospects. It’s called “NEXT” A few tips: • Posture is fundamental. Be calm and dignified as befits someone who is a proud part of an extraordinary business. • Listen carefully. Never interrupt and never argue with the prospect. Appreciate the reason for their objection and repeat their objection so that you clearly understand what they’re saying. Use works like ‘appreciate’ ‘understand’ ‘realize’. • Smile before addressing the issue. Answer the question with a question to ascertain whether the objection is genuine. E.g. “An MLM? Really? What according to you is an MLM?” Call his bluff. In most cases the prospect has no idea what he is talking about or is mouthing pre-conceived notions learned from others. • Ask “Is that the only thing stopping you from joining the business?” • Use the feel-felt-found formula. I understand how you feel. I felt the same but you know what? I found that in this business I can really earn the kind of money we have been speaking about, etc. etc. Indirectly you are saying Shut up, Johnny, you do not know what you are talking about, so listen to what I am saying. • Don’t beat around the bush with a self-opinionated person. Ask him whether he is asking you or telling you and fashion your response accordingly. Some common objections: 1. This is not my cup of tea. • Why do you say so? • Which part of the business is not your cup of tea? (Identify the real concern.)

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Use the feel-felt-found formula

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Amount is too high/No money Check whether he has any other reason. Do you think so? Feel-felt-found formula. Do you think you can start a business with this earning potential with such a low amount? You are looking at the raw material content of the product. Is there any product, including what you wear or use (e.g. shirt, mobile, watch, shoes, mineral water) that you buy for the raw material cost? And by the way, do any of these products have a business opportunity attached to them? How would you meet an emergency without money? Wouldn’t you like to do something about that? Let me ask you a question. If you continue doing what you’re currently doing, will you ever have enough money for anything?

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3. I do not have the time • Confirm whether the prospect likes the business and ascertain whether it is a genuine statement or an excuse. • What is it you have no time to do – own your own life or earn substantial sums of money? • People who trade time for money rarely do. People who duplicate themselves have all the time in the world. • Draw the time circle and explain how time is spent in a day. 4. How can the company pay so much? • The company pays only on the binary system. You already know – or should know - the binary system as explained in our presentations. • In traditional business, 80% of the cost of the product goes to distributors, wholesalers, retailers, stockists and advertising agents. In networking marketing, these costs are virtually eliminated and the benefit is passed on to IRs. 5. What if my network stops? • Why should you think your network will stop? Explain how the “chain-breaking” concept does not mean your network will break down. • The business depends on YOU. The biggest danger is YOU. If people in your organization stop working, YOU can do something about by bringing more people on board. 6. It is a pyramid or pyramiding • What do you understand about pyramids? • Are you aware that architecturally, a pyramid is one of the most stable structures? Or that most organizations, including the Government, resemble pyramids? What is illegal is “pyramiding” which is entirely different and which is banned in all countries. • What makes network marketing legal is that it requires the movement of products and/or services before anyone can earn money. • Are you aware that the Government of India, Ministry of Consumer Affairs, Food and Public Distribution, Department of Consumer Affairs has clarified vide their circular dated March 31, 2003,

that the Prize Chits and Money Circulation Scheme (Banning) Act, 1978 are NOT applicable to companies dealing with the distribution of good including multi-level/networking companies? 7 • • •

This is a sure way of spoiling relationships Why do you think it will spoil relationships? Gifting an excellent opportunity can only enhance a relationship not spoil it. If you speak to a prospect without expecting him to sign up, his rejection – if it happens - will not disturb you and your relationship will continue as before. So where is the question of spoiling your relationship? Here again, the importance of POSTURE cannot be over-emphasized.

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I do not have communication skills Why do you say that? Use feel-felt-found formula. Do you really think that communication skills are all that are required for success? If you are convinced with the business and convey that conviction from the heart, your communication will be effective. Passion, self-belief and attitude count for more than oratory skills. If I can do it, I believe that you can too.

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Is it MLM? What do you understand about MLM? In most cases, the prospect will not know anything or very little about MLM. Explain the difference between traditional business and MLM and go on to explain the difference between MLM (diminishing commission) and referral marketing (equal commission at all levels).

10 Let me get my two and then I will join. • It is not about getting two. The fundamental question is whether you want to earn Rs 3.5 crores or not. If yes, the first step is to join. The second step is to learn the business which includes learning the various skills necessary to grow your business. Looking for two is like wanting to learn maths without entering school; or wanting to open a restaurant only if people assure you that they will patronize it; or trying to treat patients, seeing if it works and then applying to join Medical College to learn medicine. In short, first join and then do all that it takes to earn Rs 3.5 crores. • Or again, trying to get two is similar to wanting to spend 50 lakhs on opening a shop and then trying to figure out how many products you will have to sell before you recover your money. Rather than that, keep the Rs 50 lakhs at home. 11 In my present position, I cannot speak about this business • Ascertain his perception about the industry and explain that this is not some Mickey Mouse activity but a $ 100 billion plus industry. • Tell him about reputed people who are in the business 12 I will join you but you take it from there • When you join, you become an Independent Representative not a DEPENDANT Representative. It is your business and YOU have to work it. • You become a brand ambassador of the company and you are paid for the advertisement you make (recommending the product to others).

13 I do not have any contacts • Feel-felt-found formula • How many people do you invite for an important family function? • How many names would you write down if you are paid for every name added to your contact list? 14 I do not want to run after money • Feel-felt-found formula • What makes you feel that this business is about running after money? • Do you know someone who needs money and who needs your help? • If money does not interest you, what is it that you need most? 15 People at the top make the most money • Why do you say so? Feel-felt-found formula • Explain the binary plan and show that unless the downlines earn money, the upline does not. In other words, being at the top does not guarantee you more money. 16 I do not want to earn easy money • Ask him whether he is working and making easy money. • Tell him that though the business concept is easy you cannot make easy money in QuestNet. You need to be committed and work hard. 17 I (or my friends) tried this business or similar schemes but I/we failed • Which company plan did you try? • Has the business failed or have you? • What did you do or not do that you failed? 18 I know people who did this business and quit. • I know many who dropped out of school or college. Does that make school or college bad? We know many IT businesses that fail. Does that make the IT industry bad? This business does not work unless you do. 19 The business is saturated • Let me ask you a question. Do you own a refrigerator or TV? If everyone owns one, why is it that people are still buying them? Saturation is a myth. • In fact, in India we have not yet scratched the surface.