The basic premise of Network Marketing is that you discover a product or service you like and then you share your passion for the product or service and or the potential of the business opportunity with your friends, neighbors and relatives. Many distributors have launched successful businesses from their list of existing relationships and have never had to speak to strangers.
However, to build a large growing business, the time will come where it will become necessary to start talking to strangers.
Now while it is best to develop relationships with strangers before prospecting them, one can become proficient at leading a stranger right into a prospecting conversation. (See previous article on approaching strangers and read about the FORM method of cold prospecting).
There are 325 million people in the United States. 93 million are unemployed. A few million may be looking for a job and can’t find one and have ambition and are willing to work. 126 million are currently employed, yet in surveys, a majority have stated that they are not satisfied or unhappy with their job,
so there are tens of millions of potential prospects.
While one might believe the Network Marketing pool of prospects may be diminishing, the contrary is true, the number or potential prospects is actually increasing. 2,000 jobs a day are being eliminated due to automation leaving these folks looking for a way to earn money. 55% of all new jobs over the next 10 years will be at minimum age causing those people to seek ways of earning extra money in their spare time.
One might believe that many folks are already involved in Network Marketing and are no longer a prospect. However, an article recently disclosed that over 51% admitted to doing two or more Network Marketing opportunities at the same time. Interesting that the article said that 51% “admitted” to being involved in more than one company which implies that many did not admit that fact, and the “or more” companies implies that some are doing three or more. Therefore, everyone already engaged in Network Marketing is a prospect. Think about it, they are already sold on the MLM concept and are open minded to supporting the industry and adding another earnings stream. The Network Marketing Industry is exploding and growing faster than ever as people are jumping on the band wagon.
It has never been easier to build a Network Marketing business. So, the first thing to do when you believe you have run out of prospects is to check your pulse to see if you are still alive. There are more people looking for way to earn extra money in their spare time than ever before.
Prospects are everywhere! You will never run out of prospects. The only thing you will ever run out of is creative ideas on how to meet these prospects. The main thing is to get out of your house. (Yes, there are many ways to build online, but the most effective it to get out and meet people.) Attend Networking events where you show up with 50 of your business cards and go home one of each of 50 other people’s business cards.
Your network will determine your net worth. Meet new people every day. Connect with people, develop new relationships. Ask people what you may do to be of service to them and what type of prospect they are looking for to grow their business and then they will likely ask what they can do to help you expand your business.
Then you use the “who do you know?” approach, where you ask them who they know who may be looking to earn some extra money in their spare time, working from home, without interfering with their current job. They may refer a friend or relative or they may simply say,
“Me, I’m interested!”
We built our Amway business by simply wearing a button that said,
“Who do you know?”
People would invariably ask what that meant and that would open the door to ask the question, “Who do you know that…” and then add what type of person you re looking for. “people who desire to maintain a chemical free home.” Mother’s who are interested using toxin free products on their babies and children.” People who would like to travel and take more vacations with friends and families at deep discount or to earn free vacations.” “People who would like to learn about cryptocurrency and accumulate Bitcoin.” “People who are interested in earning enough money and being able to quit their job in the next couple years.”
Soon one will become aware that prospects are everywhere. Once you learn to use either the F.O.R.M. method or the “Who do you know?” approach, you will realize that YOU WILL NEVER RUN OUT OF PEOPLE TO TALK TO. You can walk into a restaurant, sit at the counter, order a cup of coffee, and walk out 20 minutes later with four prospects. The waitress, the person to your left, the person to your right, and the cashier. All for the cost of a cup of coffee that you would have bought in a Duncan Donut or Starbucks drive through anyway.
So, what do you do when you run out of people to talk to? Nothing. Because you will NEVER run out of people to talk to about our industry and its wonderful high-quality products and services.
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