4 Biggest Challenges to Sponsoring More Representatives – Todd Falcone Review

On September 22, 2010, in Attraction Marketing, Network Marketing, by Jim
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In this article, we review a recent presentation made on the My Lead System Pro Weekly webinar by Todd Falcone. Todd is a networker, by trade, having built successful teams in 4 different companies over a 20 year period. He is the author of “The Fearless Networker,” a popular handbook for distributors in direct sales/network marketing.

The 4 areas people stuggle with in the area of prospecting?

  1. Connecting – You are looking to create a “warm and fuzzy” feeling whether meeting locally or using automated lead generation systems.  Todd visualizes a big block of ice between him and the prospect.  He gets an ice pick to chip away the ice and blow torch to melt it.  People buy from people they know, like and trust, so you must make the connection.  The things to be aware of and manage are areas of common interest, styles of communication, mirroring the prospect’s personality style.
  2. Follow Up – Follow up is more about doing that technique.  The key is setting firm appointments with prospects for follow-up and then meeting your commitments.  When a prospect fails to show you can pretty much just cross them off your list.  Sometimes, you can give a little leeway, but you should leave a voicemail clearly indicating that you are looking for professionals and so far this person doesn’t seem to be fitting the mold.
  3. Overcoming Objections -   This area can be learned by involving your upline on 3-way calls and learning as they answer the more difficult questions, some effective ways to respond.  Since there are only really 5 or 6 main objections normally encountered for any business, these can be learned fairly quickly.
  4. Closing – Listen for buying signs from your prospect such as questions about getting started, etc.  If you’ve been paying attention and truly listening to your prospect, the close should come naturally, as a benefits-based reason that your company and/or products can meet their wants/needs.  There isn’t any magic involved and simple questions work best:  “Are you ready to get started.”

Todd has been successful in building networking organizations, since he operates using a lot of posture.  He likens it to recruiting a new CEO for a company, in which the bar is set very high.  It should be the same in network marketing companies, although most distributors operate from a level of scarcity.  In reality, you are just looking for a few leaders that have what it takes to succeed.  This doesn’t necessarily been a very high skill set, though, because it’s more about desire than raw ability in most cases.

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MLM Success – Choosing the Right Network Marketing Product

On January 7, 2010, in Network Marketing, by Jim
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Successfully navigating the best pathway to eventual MLM success is fraught with opportunities to fail. We know this, since over 90% fail in their network marketing “experience.” There are many reasons for this, however, in this article we examine the importance of choosing the right network marketing product to eventually having success in your MLM business.

Obviously choosing a hot product is a primary key to MLM success. And also, the product must resonate very highly with you. Given these facts to be true, there are then two aspects to finding the right product exactly tailored to your own wants, needs, and desires.

You are generally faced with making a decision about the company first (at least it is usually presented this way). You must choose wisely or be faced with exclusion of many other products in the industry. This is a sad fact of the MLM industry, since most companies encourage distributors to exclusively sell only their product line-up. Sometimes this is even required with the potential penalty being loss of distributorship. This is a hefty price to pay for someone who has worked years to generate a nice residual income, e.g., retirement.

The concept of “broker,” does not exist in today’s MLM world. So, be careful about choosing your primary affiliation. Perhaps a brokerage concept will eventually be available with “master” agents facilitating the needed training from different network marketing companies, but so far we haven’t seen anything like this in the industry.

Next, once you’ve wisely chosen the best network marketing company for you, you’re a step closer to the best network marketing product. For some, who are involved with very simple, one-product companies, this isn’t a big issue. However, most will face the secondary decision of which product in their company’s “mix” is best for them to promote. Some will try to promote everything and fail from lack of focus.

This secondary decision can side-track the best among us. Laser focus is the best way to stay on your own personal MLM success pathway. Within your company’s products, choosing just the right network marketing product that will fuel your own personal success is vital. If faced with the prospect of only being able to use one of your company’s products, which would it be? Your answer may indicate the network marketing product, on which you must keep your main focus.

Perhaps someday as network marketing “professionals,” we’ll be free to choose the best of the best from multiple companies. Then, even a poor initial company selection will not prove fatal and significantly raise your chances of becoming the next MLM success story. Until then a poor company choice may continue to cause higher than necessary MLM failure rates, since many will be unable to easily “see” the best network marketing product for them.

Although an “open” environment in the network marketing industry is unlikely any time soon, we hope you’re well on the path to MLM success by choosing the right network marketing product. In any case, we invite you a test drive on the pathway to even higher success rates by using a systemmatic approach to network marketing.

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