How to Prospect in MLM?
Prospecting is a very essential skill that you must master.
What is prospecting in MLM?
Prospecting is not presenting. It is also not inviting.
It is the process of listing names, building connections, making friends and discovering their problems by asking the right questions. They can become your potential customers and team members
Two (2) Types of Prospects
Your prospects or markets are classified into two (2):
- WARM - everyone you know and the people you had interaction with - family, friends, distant relatives, colleagues, neighbors, classmates, schoolmates. Lukewarm are acquaintances, not close to you.
- COLD - strangers, people you don't know
As a beginner, it is recommended that you START WITH WARM market first and later expand to cold prospects.
3 Steps to Effective Prospecting
If your prospects sign up immediately right after the presentation, congratulations!
- Create Your Prospect List or Name List
- Classify and Prioritize
- Reach out to them and/or catch up
When you connect with your prospect, you build rapport. It will be easier for you to know their needs and wants from F.O.R.M. You will know exactly how to invite them based on their needs and wants.
CREATE YOUR PROSPECT LIST
It is recommended that you START WITH WARM or LUKEWARM market first.
Because you already have developed connections, interactions, relationship and trust in the past.
Who do you know?
Family and friends
Associates and Acquaintances
If you list down everyone, it would surely be more than 200 prospects!
It is a common mistake for amateur network marketers to prejudge.
DO NOT PREJUDGE.
If you think they will not join because they do not have money, write them on your prospect list.
If you think they will not join because they are rich, put them on your prospect list.
If you think they are healthy, put them on your list.
If you think they don't need your business, still, put them on your list.
Whoever they are, put them on your list.
CLASSIFY AND PRIORITIZE YOUR PROSPECTS
Network Marketing is a People-to-People Business.
All beginners think they need to sponsor and invite the whole world in order to succeed.
The good news is, you just need a few key people to make it big in Network Marketing.
Truth is, there are people you know, because of their current principles and lifestyle, will be more open to the opportunity than others. These are the people you want to approach first.
Let's improve your odds of success - and their odds of success - by doing a brief inventory of your prospect's assets.
Look for the following Personal Characteristics listed below that are important for success in Network Marketing.
From your list, who do you know...
- who are Positive
- who loves Fun
- who are Enthusiastic
- who are Achievers
- who are Responsible
- who have Leadership
- who are Motivated
- who have Influence
- who have Needs and Wants
- who are Trustworthy
- who are Speakers and Talkers
- who have High Moral Integrity
- who have Initiative
- who are Smart Workers
- who are Hard Workers
- who are Spiritually-minded
- who Desire More
- who are Visionaries
- who are Determined
- who are Survivors
- who are Sharing, Caring People
- who already have a Flexible Work Schedule
- who have considerable Self-Esteem
- who have Dreamers
REACH OUT AND/OR CATCH UP
It is best that you find the reason why you would invite them to your business to increase your chances of closing them.
To do this, identify some problems, pain points, needs and wants that you know your business can help.
Successful Network Marketers are very good at prospecting. They are very good at finding their problems and pain points.
A simple guideline is FORM.
Family and friends
- How are their friends and family doing?
- How do they like their work?
- Looking for change?
- Have they thought of doing something else other than employment?
- What is there future plan??
- What do they do for fun?
- What do they do when they are not working?
- Do they have financial concerns?
- If they have other plans, what are their financial goals?
Develop yourself to be a SKILLFULL PROSPECTOR. This is only achieved thru experience.
When you prospect, you will deal with a lot of people.
A very good guide on how to deal with people is How to Win Friends and Influence People. Be sure to check it out.
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