How to Effectively Overcome the Money or Budget Sales Objection?
How do you effectively and quickly overcome the sales objection regarding budget or money?
How would you feel if the sales objection behind almost all of the other sales objections were simply eliminated?
So how much does it really cost a network marketing company to set you up as a distributor or associate with that company? What’s a reasonable charge for that?
In most law offices, which is something I’m familiar with, it would take a paralegal about an hour to make sure that your physical file is set up properly, and that your name is in all the right databases for billing, contacts, notifications, and so on. We usually bill about $90 per hour for paralegal work in typical law offices. With your last network marketing company or multi-level marketing, mlm or home based business, when you had to convince people to pay the startup costs, how did that make you feel?
If you answered: I felt nothing, that was their problem, okay that was definitely not my answer and if it were yours, do you still feel that way now? If you’re more like me, it was awful. I already knew my friends and family couldn’t afford $499.
But my upline mentors all said, “they can afford it, they just don’t see the value in it yet, you have to show them the value.” Maybe they were even right, but it didn’t feel that way to me.
So, if you’re starting your own business doing anything, you will find upfront or startup costs associated with whatever you’re doing. To start my law practice, the cost of law school was over $100K by itself, and please don’t tell me it was a personal growth course, it was a means to an end, just like the office lease, desks, chairs, computers, supplies, and even waste baskets and microwave. All that other stuff cost about another $10K.
Compared to opening professional office or a corner bodega or bistro, starting a network marketing business is more than affordable, no matter what the cost. Wouldn’t you agree? I did. No problem. $499 as a starting fee and add a couple of utilities and a company website, break a contract here or there and start a new one with “my new company,” it was all just the cost of doing business. And it penned out to a lot less than the $10K my law office cost me if I was ignoring law school.
But isn’t it true that most of your family and friends are not in business for themselves, and never were and never expected to be? They had no idea what it should or could cost to start a business or why you might pay it? And overcoming the money or budget objection . . . nah, let’s call it what it was, convincing and cajoling them to pay it over and over again, which my upline mentors called following up, made me want to crawl out of my skin, into a Hermit Crab shell, and slide into the ocean.
So, in order to make money, first I had to pay $499. Then, all I had to do was to convince you to come up with $499 that you didn’t have. And then since it is illegal to pay commissions on just signing people up, you and I had to switch over some services from our old providers to the new ones. Then you and I had to somehow convince your family and friends that $499 was just the cost of doing business.
A lot of people who couldn’t afford it, did it anyway using credit cards, pay day loans, and borrowing from family and friends. I knew one person who didn’t pay her health insurance for a couple of months and when the insurance co wanted to cancel her policy she asked her upline mentor who wasn’t me for help and got none. When I heard about that I felt absolutely sick and it wasn’t even my contact.
How would you feel if your friends joined your business team and next you know they’re getting sued by a payday loan company or losing their health insurance?
Pretty much nobody whom I knew had the $499. When I was in the product based network marketing business, nobody had the $400, the $800 nor the $1250 to get in at those option levels either.
So how much does it really cost the network marketing company you’ve chosen to set you up as a distributor or associate with that company? What’s a reasonable charge for that?
Because in most law offices, it would take a paralegal about an hour to make sure that your physical file is set up properly, and that your name is in all the right databases for billing, contacts, notifications, assigned to the right attorney, and his secretary is notified and given the file and so on. We usually bill about $90 per hour for paralegal work in typical law offices.
How do you effectively and quickly overcome the sales objection regarding budget or money? How would you feel if the sales objection behind almost all of the other sales objections were simply eliminated?
The most effective way to reduce the lack of money or budget sales objection is to as much as possible, eliminate the startup cost to begin with. Suffice it to say, I think a hundred bucks in reasonable.
I like the $99 startup fee at my present company plus the $20 monthly website. You have to sign up for the service which is also extremely affordable.
If you’re on a tight budget, you can still most of the time find $99 can’t you?
If you have cable you can probably cancel it for a month or two, or the gym membership, or skip eating out a two or three times. Borrow it from mom or dad. Mow lawns, sing at a couple weddings (not an option for me of course) enter a beauty contest, (also not an option for me).
So far with the new company it’s just not an issue.
Our monthly service plans are from about $10 to $40 per month for most families and individuals. Starting from about $40 per month for businesses.
Are you looking for a network marketing company your family, friends and contacts can afford?
Got a couple of minutes? Have a look at this 5 minute video
Email me at David@AttorneyDavidNelson.com or call me at 951-322-5998 with any questions you might have. I’m located in Murrieta, CA near Temecula.
Disclaimer: All opinions contained in this website and or in this post or page are solely my own. The names have been changed to protect the innocent. I could tell you who the other companies were but then you’d have to go into witness protection. The companies I mention above are composites of companies the way characters in your dreams are composites of people you’ve met or known. All are for illustration only. No event, person or company mentioned is real, and all similarities to real persons, companies or events are purely coincidental.