If you have been in network marketing even for just a few weeks or days, someone has probably asked you, “So, how much money are you making?” In our blog series on handling MLM objections, we tackle this one, covering your prospect’s mindset and the specific way to respond so that the result is always positive.
First, you never want to immediately try to shut down their objection. Never belittle someone for their objection or concern, even if you and I think it’s pretty ridiculous. I’ve heard them all, and to some degree, I always have to stop myself from quickly shutting down their objection because I know it’s not a major issue.
Always be courteous and understand that, to them, this may be the only concern that you need to address. First, it helps to understand what they mean by this common MLM objection.
What They Really Mean
The reason people ask “How much money are you making” is because they want to know what’s possible for them. They want to see some real proof that the business works. Most likely, they have never owned a business and they are not used to working up front without the guarantee of a paycheck. People are used to working a couple of weeks and getting paid a fixed amount of money for those specific hours worked.
So, here are a few ways to handle this MLM objection.
Why This MLM Objection Isn’t the Right Question
“How much money are you making?” is hard to answer. It’s a question based on what I call a “paycheck mindset.” When you’re building a business that generates residual income, you get paid over and over for something you did one time. So, a honest response (and my favorite initial response) to this question could be: “Well, that’s hard to say because I don’t know yet. I’m still getting paid on work I did X months/years ago.”
This will help them understand that your business is still paying you for work you did one time (which is awesome!), so it’s impossible, and really inaccurate, to limit your income to what you are earning at any one specific time.
It’s also not the right question because, in a business, you could have several great months and then several slow months. There are no guarantees, and it’s up to you to build it.
Everyone has Different Goals and Commitment
Another reason this question and MLM objection doesn’t really apply to network marketing or owning a business is because your prospect has no idea how much time and effort you are putting into your business. He may think you are working your business for three hours a day, but you may only be putting in one hour a day. And, your goals for your business may be nowhere near his goals.
So, you might also want to ask you prospect, “How much extra money every month would make a difference for you?”
Then, you can help him figure out his commitment level to earning that amount of money.
You are Bringing Value to Them
When you are inviting people to look at your business opportunity, always approach it with the posture that you don’t NEED them to join your business. Don’t fear their rejection of the opportunity. (BTW, click here for great tips on overcoming your fear of rejection). You are offering them an opportunity that could benefit them. It’s all about the opportunity they see for them and their family. You are going to grow your business with or without them.
You can assure them they will get the coaching and support to help them reach their goals, because network marking is a team business full of free coaching.
By the way, this site has several good and quick example responses to several different network marketing objections to give you more ideas of how to handle these issues.
What if You’re Just Getting Started?
If you just recently started your business, be honest and tell them. You’re looking for a few people to launch your business with. The potential for the future could mean those first business partners could benefit from your growing team. Plus, you don’t want just ANYONE to join your business. Tell them that you specifically thought of them.
How much money you’re making has absolutely nothing to do with how much money they want to make or will make. If they decide to start their own business, it’s their business to grow, along with the support of you and your team. So, using your income level as a barometer or determining factor for how much money they can make is just the wrong mindset.
Use these tips to help them shift their mindset to thinking about what’s possible for them, based on their own goals.
Scroll down just a little bit more for some more posts on how to handle other common network marketing objections. Matt Morris also has some great tips on overcoming these objections.