DSCF1479

The No.1 Attribute of a Business Owner

INTRODUCTION                                          

Being a successful business owner and being able to carve a niche for your brand will require you to have a multitude of skills.

Unlike being an employee where you are given specific roles to play, being a business will require you to be a utility player on whose shoulder rests every other aspect of the business.

And while a lot of new Business Owners or even CEOs have different combinations of these skills, there is one that is by far a MUST-HAVE, and will absolutely impact the future of your business.

START-UP PROBLEMS YOU NEED TO SOLVE AS A BUSINESS OWNER                                           

Let us see some of the problems you will need to solve as a new Business Owner:

  • As a startup CEO, you must convince yourself of your ideas and a future vision. Simply put, if you don’t believe 100% in your ideas, nobody else will
  • Next, you must convince your partner(s) or your investors – depending on the scale you start off at. If you’re starting out from your garage, you will have to convince your Spouse, especially if you plan on quitting your job and starting in business full-time.
  • Next you will have to attract employees – Good talent who believes in your dreams and may have to work with you at less-than-market price.

When the Company grows, you will have to manage conflict, and keep the dream alive.

When your company grows, it increases in complexity.

Hundreds of people, tens of offices, a thousand different drivers and intentions and agendas.  Over time you will have drift.  Even the best system for corporate goal management will fail.  At this point it falls again on the Founder to be equal parts ambassador and leader, and keep moving the business forward.

  • Lastly and MOST importantly you will have to bring in the first few customers, to be able to pay the bills and have the business survive and thrive.

Later, as the company grows, you will need to close key accounts and help your sales team with the toughest prospects. You must be willing to go out there and pitch your product, ask for the sale, and bring in money from early customers.

THE MOST IMPORTANT SKILL

It follows, then, that the MOST critical skill you will need, in order to be successful in your first business venture – is SELLING SKILL.

In every business; starting from corner shops up the ladder to those listed in Fortune 500, nothing happens until a sale is made in one way or the other.

A sale is the nucleus upon which every other sector revolves around. As a founder, business owner or CEO, you will need to communicate effectively with diverse people – Employees, Customers, Investors and the like.

All these activities involve making critical decisions with the overall aim of Selling Something to Someone.

Sales it is the backbone of every business, and its positive or negative results will have profound effect on the success or otherwise of any given brand. Therefore, it is very crucial for a founder or business owner to learn and understand selling skill before venturing into any startup.

If you don’t think you’re very good at it, start learning.

If you’re leading, you’re probably selling.

[Also Read: 3 Big Reasons Why You Don’t Own Your Own Business ]

Additionally, I present to you the 4 most important skills and attributes you need to possess (in addition to Selling Skill) before quitting your job to become a business owner

  1. Integrity

Generally, salespeople and integrity are two words that are scarcely found in the same sentence. However, the truth is that integrity is a powerful trait that salespeople can imbibe, to achieve great results.

The most successful salespeople are those that have earned the trust of buyers, who have strong faith that they are always reliable and trustworthy, at all times.

This notion is even more evident for business owners or CEOs.

If integrity is important for salespeople, then it is a very crucial necessity for a business owner.

For instance, if a business owner’s integrity is called to question based on issues bordering on dishonesty or other unethical behavior, and such accusation becomes public knowledge, the entire business or brand will come under serious threat.

Therefore, in essence, integrity is a must-have quality for a business owner.

  1. Being Self Driven

To be a successful business owner requires responsibility, discipline and dedication. In a nutshell, you must be self-driven.

To keep a business or brand afloat and successful, you will need to pay constant attention even to the very basic details.

You will need to exude confidence and limitless energy while pushing constantly regardless of whatever challenges you may face.

Complacency or allowing yourself to be stuck in a rut is dangerous to business growth. You must understand that your competitors are not sleeping at all and are doing everything possible outmaneuver you.

So you need to be ambitious and continue raising the bar on yourself by setting new goals each time you overcome a previous one. Even the world’s richest entrepreneurs are not resting on their laurels as they continue to strive for more in a dynamic and ever changing world.

  1. Strategic Thinking

As a business owner, you should always endeavor to be one step ahead of competitors as well as customers.

This is where strategic thinking becomes vital, because for you to improve on the status quo, you will need to figure out how to make more sales.

Nothing should be taking for granted as you keep evaluating on possible ways to achieve even greater results.

Questions like;

  • What are the challenges I’m facing?
  • How do I solve them and what is the most effective way to overcome them?
  • How do I make my transactions more efficiently?

What are the short, medium- and long-term action plan geared towards making more sales, growing faster and ultimately increasing revenue substantially?

Achieving great success does not happen by chance, rather it comes to those who work for it and persevere even in the face of daunting challenges.

  1. Have Conviction

Being confident is a desirable trait we all need as humans trying to overcome life’s daily challenges, but as a business owner, confidence is not only desirable but equally a crucial necessity.

You must have confidence in your brand and its offerings.

Psychologically, having conviction within you will have a positive ripple effect on your business, and you should also bear in mind that confidence is contagious; therefore, your personal conviction could be transferred to your potential customers, employees and investors – thereby inspiring them to believe in your brand.

Don’t worry – if you think this is going to be tough, you’re wrong….It’s going to be tougher.

Do all startup owners have all these traits – No!

In fact, smart Business Owners surround themselves with people that compensate for their own weak points.

[Also Read: When the Principles Are Right, Even Failures are Forgiven]

Don’t be afraid to fail, or make stupid mistakes.

People who only like to work on things that will make them look good are bad startup CEO material.

Would you like to learn how to use Kangen Water for Better Energy and Healing?

[Get our Free E-Book on Why You Need to Launch Your Own Lean Startup – CLICK HERE]

Visit us at: startupfrat.com

GET MY FREE E-BOOK HERE: www.RetireNow.club

DSCF1506

4 Key Questions to Ensure You Don’t Get Lost in the Sale!

There are 4 Key Questions that you MUST ask WITHIN the First Few Minutes of starting your Sales presentation that ENSURE that you know EXACTLY where you’re going, and keep YOU in control of the Meeting, Not the Customer.

How Many Times has it happened to you that

  • You labor your way through your Sales presentation, and at the end, when it’s time to collect your order, the Customer SWATS you away with an objection you weren’t ready for, or worse – that you didn’t even think existed?

EVEN MORE PAINFUL …

  • …halfway through your presentation, the customer stops you and pushes you for the price – and then tells you it’s too expensive for them… and they won’t be looking right now anyway….

AND THE ABSOLUTE Worst of Them All

  • At the end of the presentation, they ask you to leave your info so that they can think about it and get back to you…

Losers Who Don’t Realize That They Are Losing…

MILLIONS of Business Owners and Sales people work like this, and they don’t even know what they’re doing Wrong.

Worse – They don’t know that there are 4 Key Questions that you could ask WITHIN MINUTES of Starting your presentation – that would not only tell you WHERE you stand with this customer, BUT you would have them eating from your palms, and BEGGING you for more information rather than you Begging for the Sale ..

DOWNLOAD A PDF OF THIS TRAINING TO KEEP AND PRINT – IT’s ALL YOURS 🙂 

So here they are –

1) Who is the person who will take the Purchasing decision?

You can word this in many ways. You may start off with your Product presentation by asking them about their needs and then interrupt yourself by saying

“Cathy – before we proceed, may I ask whether You – or Someone Else (maybe your partner/boss/wife) would be taking the final decision on this?

I ask you this so I can tailor our meeting accordingly today, and get you all the information you would need upfront in order to make the decision”

Now let me warn you – Nobody likes to admit that they’re NOT the decision taker, so you might need to probe further. So let’s say that the prospect says that They Themselves are the final authority, you must push deeper by asking –

“That’s great to hear, Cathy. I’ll make sure I get to the most important facts first, so that you have all the critical info first…and then you can ask me for more details if you deem appropriate.

Before proceeding – real quick – would there be anyone else in the house/organization that you would like to sit in on this meeting…. maybe someone you may need to defer some of the finer points to, once you’ve got the skinny from me?

You do this because you don’t want to waste your time giving a 90-minute presentation to the gatekeeper, or someone who’s just screening on behalf of the real decision taker.

If you realize that you’re just being screened, you would want to keep your presentation short with just enough content to arouse curiosity and attraction so that you either get the chance to speak with the Decision taker, or get the gatekeeper to convey the message inside that they need to See This!!  🙂

2) If You Saw Something that suited Your Needs, and Fit Your Budget, How Soon could you Arrive at a Purchase Decision?

This one is to understand the urgency of the situation.

All too often, Business Owners and Salespeople wade through the presentation, only to be told at the end, that the customer is not ready right now, or they were “only looking”…

Now understand, that if the Customer tells you upfront that “they’re only looking” then you KNOW that you have to CREATE urgency and hit the hot buttons, in order for them to WANT IT NOW.

In a worse case scenario, you can always cut short your presentation, and when they push for more info, you can schedule a follow up on their calendar when they’re likely to be ready. [That way they keep begging for more info, and you can dial up the urgency]

3) Assuming that You were Satisfied that this is the ABSOLUTE Best Product for Your Needs Now, In What Form Would You like to make the Payment?

This question works like a screwdriver that fulfills 2 goals –

  • It FORCES the Buyer to show their cards – they now have to commit or reveal whether they have funds, or whether they’re just window shopping.
  • It strips Gatekeepers bare-naked. If your prospect is NOT the real Buyer and is only masquerading as one, this question will blast the headlights into their eyes and send them scurrying. You will see them falter, stutter and try to dodge – and you will KNOW that your actual customer is sitting inside somewhere, and you can start drilling for THEM instead of wasting your time with (current) Prospect.

Be warned, however – that this technique will invite a “Price” question from your Prospect.

“You: In what form would you make the payment?

Prospect: That depends on the price – how much does it cost?”

At which point you can smoothly counter with –

“Thanks for that question – I am just coming to that – I’ll give you the price, the payment options, and the financing details if you need… by the way – how did you pay for your previous xxx  – did you buy it upfront, or get it financed?”

Once you have all these details, you just have 1 more potential objection to kick out of your way that could become a problem later on…

4) Along with Price, would Quality also be a Key Consideration in Your Choice today?

You can spin this question in many ways –

  • Along with Price, would Safety/Security also be a Key Consideration in Your Choice today?
  • For this type of purchase you you merely look at the Price, or do you look at any other critical factors that could affect your long-term experience?
  • Do you know of the various factors or variables involved in this type of purchase, that you should watch out for, so that you ensure you get the absolute best value for your money?

You ask this question if your product is not the cheapest Chinese crap in your space, and to differentiate yourself from the ones that are…

Better to address quality concerns upfront – and in fact – Let the Buyer bring it up as THEIR idea, so that they are comfortable paying a premium for your Superior Quality product at the time of the Close.

———————————————————

So there they are – the 4 Key Questions that will keep you from losing yourself in the Sale, and from having the Buyer make a chump out of you.

Hope this helps – Happy Hunting!

DSCF1504

3 Big Reasons You Don’t Own Your Own Business

If you’re like me, you probably already know that Financial Freedom should top the list of desires that you want to achieve, with your time on the planet. Owning your own business is the No.1 route to Financial freedom.

Financial freedom makes everything else Possible – or in the case of the working middle-class – REACHABLE.

The reason traditional parents encourage their children to go to school and study Medicine, Engineering, or Law is to be able to land a good job or build a good career and aim for Financial security.

By now you already know that while a good job or profession is the SLOW (although Steady) route to reach there, it may make you feel that you are missing something.

Especially when you see your buddy – who started their own business a few years back –  race past you to the finish line…

… and wonder to yourself – whether that could have been You!

Don’t worry – you are not alone.

In my business of Startup Consulting, I meet people like you all the time – some of them even have your kind of smartness and ambition, and many are as driven as you.

Till a few days back, I used to be even shocked in disbelief, that such smart and driven people like you are actually NOT in your own business already…

… And then one day, I realized that it is not because you don’t have the right roots or background…

… It’s not because you don’t have the money, or the skills..

… It’s not even because you don’t have the time..

…I realized that you don’t even know what it is – that is holding you back…

You need to know what obstacle to overcome…

You need to know where to start…

In this post I will share with you the Three Big Reasons You Don’t Own Your Own Business.

Reason No. 1 – Startup Capital

This is the No.1 reason most people like you do not start their own business.

Since time immemorial we have had this idea ingrained into our head that a business takes a lot of money to start.

And putting in your life’s savings into something that has a higher chance of failure – than a chance of success, is a proposition you may not be able to stomach.

Reason No. 2 – Business Knowhow

While most people like you already have a pretty good mastery of “Industry skills”, what they lack is the knowledge and experience to run a business – also called “Business Knowhow”

Business knowhow involves things outside your shop, so technically speaking – “Industry skills” or more accurately – “Employee skills” are of no great use here –

Some of the most important types of Business Knowhow that could be critical for success or failure

  • Target Market – Knowledge of the Market is probably the MOST IMPORTANT type of Business Knowledge there is.

In fact, one of the biggest causes of failure in business is too much inward focus on “product” and too little focus on “market.

You will find that once you have the Market know-how in place, even an average “Product” will do wonders, if promoted smartly.

[Also Read: When the Principles Are Right, Even Failures Are Forgiven]

  • Competition – Knowledge about the Competitive landscape is the next most Important factor in business success.

Now don’t get me wrong – having competitors in your market is great news! It just goes to show that it is a rich, vibrant market.

In fact, at MDA we encourage our clients to step foot into an established market where other players have been working successfully for many years, instead of shooting for gold with that “one bright idea” that nobody else thought about, that could very well turn out to be a shot in the dark.

  • How to Grow (Scale) Your Business and Build the Right Team – In order to grow the business and expand your profits, you will need to depend on a skilled and loyal team, who are working together for the vision that you provide them.

Building teams is something that you may or may not learn in your job, but is a skill that is so essential that it makes the difference between the-Rich-&-the-Famous and the Has-Beens.

When you finally catch the attention of your audience, and the time comes to play your own tune, having your own team will determine if you can play like an orchestra and win the crowd.

Reason No.3 – Time and Effort

Do you have stamina and commitment?

As a startup founder, remember that the buck always stops with you. There is no room for the blame game.

Contributing factors aside, most startups fail because they just give up, not because they run out of money or time. Focus on building personal staying power, maximize learning, and improvements.

A start-up is hard work, and fraught with many challenges – and worst of all, there literally NO GUARANTEE of success (in fact, it is guaranteed that the odds are stacked against you with 9 of 10 businesses failing within the first 5 years)

Remember, the grass always looks greener on the other side of the fence.

I tell new entrepreneurs not to quit their “day job” until they have real revenue from the startup. That way, they can dip their feet in the water and test whether they are up to the grind.

Reason No. 4 (Bonus) – Risk

Okay, so let me throw in a bonus reason there, this is something that is mainly psychological – however remains as a major ambition-crushing factor!

Broadly speaking, risk comes from inadequate Business know-how and making incorrect decisions during the start-up stage.

Risk is not Real.

Either you know what you’re doing…or you’re shooting in the dark.

Smartly trying out new ideas in a proven market, with miniscule budgets (so as to not lose your shirt) – is not called Risk-taking – it’s merely called “Testing”

Split Testing Business Consultant

That said, any investment must be balanced against risk.

Theory of Baseline Return –

If you are going to invest $50,000 in a business, the potential return has to be (at a minimum) higher than what it would earn investing in a Treasury Bond. The higher the risk of the investment, the higher the potential return needs to be.

Income Opportunity Cost –

Although you are starting a business to make money as the end goal, you need to accept that when you step into entrepreneurship, you will almost immediately be earning less in the upcoming years.

You may see valuable career alternatives in front of your eyes everyday and the opportunity cost for a younger person is even higher.

So there you are – these are the biggest reasons holding you back from owning your own business.

The idea here is not to discourage you, but to help you identify the enemy – and hopefully guide you through the simple steps involved in getting to the Gold.

Stay peeled for more posts coming through soon.

And meanwhile, do Download my Business Starter Guide – 7 Urgent Reasons to Launch Your Startup NOW!

Connect with Us at: https://www.facebook.com/startupfratcom/

GET MY FREE E-BOOK: CLICK HERE

Get my free E-Book on Why You Should Launch Your Business NOW!

Disclaimer:

The contents of this page are provided for educational purposes only.

DSCF1487

6 Steps to Follow Up With Prospects

Have you ever completed a Sales presentation and then later during the Follow Up, found it uncomfortable to ask your prospect to become a customer OR join your business ?

Well, if you’re like me you’ve probably struggled for a long time and failed to “convince people” and then sworn you would NEVER do an Affiliate Marketing Business again

So today I’m going to give you the secrets when it comes to closing those prospects coming up.

The Deal Killer Follow Up – “What Do You Think…?”

So lets say that someone has looked at your Business plan and all you can think about when you follow up is “hey what do you think?” …..and if you’re like me you’ve seen them go in all directions and you can never get them to buy or to sign up.

Well, firstly asking them “what do you think is like” saying well – what do you think about Politics? – its opens up a can of worms and then the prospect goes in all directions….

So I’m going to go ahead and give you 6 steps – 6 questions that you ask them in sequence that should help them focus on the discussion and help them make a decision that affects their financial security.

Now before that, Let’s just quickly walk through the basics so you understand where you stand.

The Goal of Follow Up

The Goal of the Follow Up is to connect with the Prospect once they’ve had some time to understand and digest your Business Plan and then help them FUNNEL-THROUGH their own decision-making process. Honestly speaking – you just introduced a new idea that kinda shook up their well-settled world a bit…and to be fair to them, it might even scare them a little.

So the goal here is to help them through their own decision making, and also to qualify them at the same time. If you feel they are going to expect a lot of results with very little work, you need to call them out on it or drop them.

So you will only follow the 6 steps that I am sharing with you, and not allow the conversation to go haywire, REGARDLESS of the TEMPTATION to explain things etc…. You’ve probably already discovered you’re not the coolest cat in the Marketing world, so stay focused and follow the steps.

Rules for Follow Up:

  • Always Follow Up within 48 hours, Prospects lose information in their heads within that timeframe.
  • Don’t Wait for Them to “Come Back to you for a Decision”
  • The Faster you get back with your Prospect after the Initial Demo, the More the Chances of a Yes Answer.

So, Here are Your 6 Steps

Follow Up Tip No 1:

“What do you like best or you could say what caught your attention the most – the

product the business or a little bit of both?”

and no matter what they say you win – right? because it is whether it’s the

product the business are both great obviously which is why someone like you is involved.

What did you like best about what you just saw what called your attention product business or

a little bit of both?

Follow Up Tip No 2:

Once they’ve shared with you what caught their attention the most, what they like best then what you can do is to really kind of judge where they are in the process.

So you say “on a scale of one to ten, ten being I’m super excited I’m ready to go – one being I’m not interested where do you see yourself”

and then you want to just be quiet and you want to wait until they answer you because they will tell you where they are sometimes we talk ourselves right out of a prospect joining because maybe they’re ready to go but we talk over them and we try to convince them and that just kills it. Remember – posture is your Number 1 asset…..remember – Amateurs Convince, Professionals Sort.

Follow Up Tip No 3:

Now, regardless of what they answered in Q Nos 1 and 2, you ask them the third question – we go “look how much money would you need to make on a monthly basis to make it worth your while” and as long as they give you a reasonable number for example they go “hey look I’m looking to make about Fifty Thousand Rupees or let’s say a thousand dollars a month” then you go in to tip number four which is

Follow Up Tip No 4:

“How many hours a week are you willing to put in to get to that thousand dollars a month”

So that’s where you have to make sure it’s reasonable… if they go “I need to make ten thousand dollars (or 5 lakh rupees a month) and I can only put in five hours a week”, you’re acting as their consultant and trying to get them to see that they’re able to do what you’re sharing with them before they’re even joined in;

So you may go “hey look I’m not sure what you do for a living right now but we probably need to readjust those numbers – ten thousand dollars a month working five hours a week you know what do you make for a living now how long have you been at your job you need to move one of the numbers either less money or more hours” ….and then

Follow Up Tip No 5:

“How long would you be willing to work with me to help you get to the thousand dollars a month working five ten hours a week” whatever number they gave you

And again as long as it’s reasonable…let’s say – six months – that’s where we lead into the closing tip which is one of the most powerful questions in Affiliate marketing…which is

Follow Up Tip No 6: “If I – Would You”

okay… “if I could show you how to work five or ten hours a week and get to X amount of income a month in the next six months, would you be willing to JOIN AND START in business with me NOW?

Very simple – right if I can show you how to do that, are you ready to get started … and then you want to be quiet. Don’t feel like you have to keep talking… don’t be uncomfortable because there’s a few minutes  or a few seconds of silence (which feels like a few minutes) because either they’re gonna say well yes or they’re gonna go well what about “X” and then they’re gonna share with you their objection, which is just a question that you need to get answered either by you or through your leadership.

If you get your leaders to answer that question you’re hearing them answer the question and you’re getting trained at the same time so those are the six simple steps or tips are very simple, they’re very effective and the more you use those the better you’re gonna get, and if you start teaching your team to do the same thing because they’re EASILY DUPLICATABLE.

Do those 6 steps again and again, and I promise you’ll see more and more people buying your products or joining your business as alliance partners.

Do share this video with people who need it – I’ll see you in the next video.

New Project

How to Invite Prospects to Your Meeting

How to Invite Prospects

Hi This is Rajat here, from Startup Frat.

Expanding your small Home-Based business is more a game of scale than a game of skill. Which means that hard-work and churning the numbers play a more important role than any one skill.

However there is one area where your skill matters a lot, and NOT mastering this skill could cause you a lot of problems during lift-off.

This area is called “Invitation” –

It has to be done in a particular manner in order to be successful.

And with this video, I am going to get this down PAT for you, so pay attention and take notes:

HOW TO INVITE PROSPECTS:

Remember – Your business will only grow through Demos and Meetings (and any associated Follow-Ups).

No Demos/Business Plans = No Business Growth – It’s as simple as that.

Unlike the Information Age proverb, Business is NOT Done over the phone, only Invitations are done over the phone.

So it’s your Number 1 and probably the most important goal in your business to keep people coming in for those Product Demos or Business plan meetings.

The Skill of Inviting does exactly that –

  • It creates curiosity in the prospect’s mind
  • It qualifies the prospect by asking him a leading question
  • It slots the prospect for a meeting at a SPECIFIED Date/Time/Location

ALWAYS REMEMBER –

  • If the prospect does not qualify themselves, you will drop them here.
  • If the prospect acts too slippery, and makes it difficult for you to lock down the Date/Time/location, you will drop them here and come back to them later once you’ve launched your business with better prospects.
  • Now remember, we are living in a busy economy where Time is at a premium, so prospects WILL have a tendency to ask a few questions on the phone. So you will need to address that situation BEFORE it arises, by being PREPARED for it.
  • Always Remember – The Invitation Call is a Closed Loop – Every Question you Answer MUST Always end up with pitching the Date/Time/Location (also called “The Close”).

You may need to pitch the Date/Time/Location 1 – 3 times in the call before you exit. Any more than that, and you are losing posture.

PRE-REQUISITES –

  • Inviting is BEST Done over the Phone. That way it gives you control and the prospect cannot hold you for longer than you want to stay
  • Alternatively, you can do this in-person but best to do it on your way out, for the same reason mentioned above
  • 30 seconds to 3 minutes ONLY
  • PERIMETER – Always sound like you’re in a hurry.
  • Better still – always BE in a hurry while Inviting. Make sure you MENTION that you’re in a hurry.
  • DISCLAIMER – Mention that by calling them to meet up, you’re not promising anything
  • FALLBACK – Always tell them that in case they change their mind (or an “EMERGENCY” comes up, they must let you know beforehand, so you can use your time elsewhere)

OPTIONAL TOOLS AND TRICKS FOR ADDED IMPACT

  • WEB RESOURCES: Keep some web-resources handy, and use email as a weapon.

It’s the Tech-Age and your prospects are used to exchanging information via email and Facebook. If you’re NOT utilizing these platforms, it may sound fishy to your prospect and he/she may take a very suspicious view of your phone call – a handicap you may not recover very well from.

I personally like to maintain a Facebook page which shares very non-specific information about my business.

  • TRIGGER REFERENCE: In certain cases if you know a prospect’s pain-point, you could refer to it and say “Lisa, the other day you were talking about how the Doctors don’t seem to have any idea about beating Thyroid problems, are you still looking for a solution to that?”

OR “John, I remember you mentioning you would love to buy a Mustang, is it still your dream car?”

  • QUALIFIER: A Qualifier is a Closed-Ended Yes/No question that a prospect must answer in order to qualify themselves for your meeting. Answering the question makes the prospect feel (rightly) that they need to qualify for whatever you have in mind for them. It gives you control.

“John, if the money were good, and fit into your schedule, would you look at achieving some more Financial stability than your current job gives you?”

A qualifier could also be a 3rd party qualifier (if you are calling indirectly through someone’s reference)

“John, I was referred to you by Lisa, and she said you’re a highly ambitious person who’s always up for new lucrative ideas, Is that true?”

  • 2-SLOT CLOSE: If I’m calling someone I do not know personally, or have met them only once or twice, I like to give them 2 Time slots, at least 2 days apart when I would like to meet them. This helps set up the posture, and also helps avoid issues with availability.

“John, I’m looking at 20-30 mins over coffee to run some ideas by you – would you prefer we meet at 7:30 pm tomorrow(Tuesday) at your place, or stop by my place at 8:30 am on Thursday on your way to work?”

NOTE: If the prospect proposes a 3rd slot, I invariably say Yes and move on, unless I have another business meeting planned at that time.

  • Of course, if the prospect acts wishy-washy or tries to act difficult, you can Drop Them Cold here

 

STRUCTURE OF THE CALL:

  • Exchange Pleasantries briefly [Hi How’re You Doing, etc?]
  • Set Up Perimiter [I’m going into a meeting, Cannot talk long….]
  • Use an Optional Trigger Reference [Are you still Interested in…that you were talking about ]
  • Use an Optional Qualifier (Could be a 3rd party referral) [Would you call yourself an ambitious person?]
  • Give them the Disclaimer that you cannot promise anything, however you would like to meet at Date/Time/Location, and take it from there (CLOSE).
  • If they ask for more info – Tell them you will be sharing some info via Text/Email/Whatsapp and CLOSE by pitching Date/Time/Location again
  • If they insist they need more info over the phone, Drop Them Cold

Example of an Invitation Call:

Marketer: John, Hi – This is Lisa, is this a good time to talk? (alternatively, “how are you doing”)

Prospect: Hey Lisa – Yeah sure – what’s up, how’ve you been?

Marketer: John, I’m doing great, thanks! Listen – I’m just rushing into a meeting so I cannot talk long….listen – are you still having trouble with arranging that Home Loan for your dream house?

Prospect: Well, yeah – we’re working through it but I’m not sure how long it’ll take – why do you ask?

Marketer: Okay…well – no promises, but I think I may have an idea, how’re you placed at 7:30 pm today? I will be driving down that area and can stop by if you buy me coffee….

Prospect: Hey Lisa, that sounds great – tonight I have plans to take the family out for dinner, but can you email me something about this idea? Is this a broker you know about that can help me?

Marketer: John, …..ummm………..listen – I’m in a hurry and I’m awaiting some info that may arrive by tomorrow, so let’s do this, why don’t you stop by the Connaught Place Starbucks at 8:30 am on Thursday, on your way to work and we can talk about it? I will be there meeting a friend later on.

Prospect: Umm….sure – we’ll have to make it 20 mins precise, because I’ve to be at work by 9 am

Marketer: Yes, in fact I’m meeting a friend later so I wouldn’t want to keep her waiting. Listen – NO PROMISES, but I may have something that you might like – see you on Thursday 8:30 am then – and hey John..one more thing….

Prospect: Yeah, sure…what?

Marketer: I’ll be coming in early to meet with you, so just in case you are unable to make it due to an unforeseen emergency, please do let me know so I can save the time.

Prospect: Yeah – Lisa sure – I’ll be there on time – thanks!

 

THE LANDMINE

This is relevant only to Direct-Sales or Multi Level Marketing people.

The smartest of MLM marketers bite the dust when the prospect asks: “Is this MLM?”

But fear not – I have the perfect response that deactivates that Land mine, and you can be on your way…

Marketer: Ask the prospect (in a curious tone) – What do you mean?

Prospect: Is this Direct Sales, or one of those Chain Marketing schemes?

Marketer: Umm….I don’t know about that, can you explain further?

Prospect: Well – one of those things where I have to go out and get members for a scheme..

Marketer: (in an uneasy tone) ummm… do you like doing all that?

Prospect: Yes OR No

Marketer: Great – Then you will Love what I’m going to share – this is probably right up your alley – No Promises, though.

See you on Thursday then…!

 

Belowmentioned are some real life calls from such invitations. Please feel free to listen and learn from them. (Names and locations are blurred to protect the person’s privacy)

Do leave your comments and questions below so we can answer them.

DSCF1484

2 Secrets for Success in Sales & Sponsoring

2 SECRETS FOR SUCCESS

Hi – This is Rajat here, and today we’re going to be talking about the 2 Secrets of Success when you go out to promote your business – whether it’s to go and get customers for your product (which you will NEED to do as a new Business owner), or forge alliances and partnerships that expand your reach (like Ray Kroc of McDonalds and Col Sanders of KFC once did).

WHERE YOU STAND

Okay – so once again – just to level-set – You’re a new business owner who needs to go and get the first few customers for your product. And then you need to have partnerships, in order to expand your business.
And there are a few barriers that you encounter when you start off with either of these things:
• Customers don’t believe in your product
• Potential Partners don’t believe in your product
• Your friends and family don’t believe in you

Very soon you start doubting the whole idea of getting into business for yourself, and you start coming to the realization that it was probably better off sticking to your job as Vice President of XXX Company and not complicate your life.
Yeah….keep going to work, keep going to those pointless social obligations, keep staying in your lane – and forget about your dreams, your real life’s potential – forget about going above and beyond for your family, your society and for the world.
…….Forget about realizing who you truly felt you could be!

YOUR CHALLENGE

Can you believe it – 100% of the people in the history of the world have faced those challenges I just mentioned above:
• Customers don’t believe in your product
• Potential Partners don’t believe in your product
• Your friends and family don’t believe in you

So how did SOME people make it??
SOME people DID the IMPOSSIBLE – they broke the barriers – and they DID become successful in spite of those issues…

2 SECRETS –

So here are 2 VERY SIMPLE secrets to Success that will help you break through the limitations that OTHERS impose whether directly or indirectly.

1) POSTURE:

Even if you are a brand new business with zero employees and zero revenue, you will execute your business from a position of strength. The ideal mindset you will keep is that Your Customers (and Partners) NEED YOU more than you need them!
In fact, make sure that you are promoting only the highest quality products and services – something so unimpeachable that you can safely stand behind it with full confidence.

Once you are working on a Quality product, and a proven business model, it is only a matter of time and effort that you will find success. Each individual prospect is only a churning factor on your road to success.
If they buy from you, or join you as partners – you will, of course provide them world-class products and world-class support….but it is you who bring the most value to that relationship and not the other way round.

To that end, YOU will be the one qualifying your prospects (using power questions, that I will teach you later) at EVERY Stage of the Sales Cycle.

YOU will control the conversation at each meeting, and you will ensure that your prospects understand that it is THEIR privilege that they’re getting to meet with you.

Of course – that doesn’t mean that you will be rude to anyone, and that doesn’t mean that it will change the fact that only a minority will buy from you – it just means that you understand the Sales Cycle and are willing to be in charge of the successes and failures, without making your prospects feel that you need anything from them. (And in fact you don’t, if you have a good business plan).

2) LIST:

ALWAYS start out with a big list… The bigger, the better.

This is probably equally important and inter-related to the first point.

Starting out with a big list (numbering in the hundreds if not thousands) is the biggest critical factor in setting up your business on a solid footing.

It is said that Colonel Sanders, the founder of Kentucky Fried Chicken went and proposed his model to 1000+ people before anyone even believed in his idea (or his recipe) – imagine the kind of list he must have started out with….maybe multiple thousands.

A big list will also add to your posture when you contact individuals on that list….hey if you start with, let’s say five hundred to a thousand people, you will be operating from high ground regardless of each person’s individual responses.

If you’re serious about building your business, and if you’re SERIOUSLY sick and tired of the grind, and want to make a better life for yourself and your family you should start out with a BIG BIG list.

Sure, if there are some people you don’t want to contact immediately, and want to keep on the back burner till you have some success behind you, that’s fine. But you MUST keep their names on the list.

Some pointers for building your list:

• A List means a WRITTEN list. Anything you don’t have in writing, in ONE place (preferably on paper) is NOT your business list. And NO – the 15 names in your head is NOT a list
• Use a memory jogger to build out your list. Even if you don’t have their contact details at hand, just write down their names and find their contact details later
• Write down ALL the numbers in your cell phone and email list. You can strike some off later if they don’t qualify
• DO NOT Pre-judge people before writing their names or contacting them. This is the NUMBER 1 reason most people fail in their startup or home business. They Pre-Judge before they write the person’s name down

So – there you have it – the 2 Secrets of Success in your New Business –
1. Work with Posture and
2. Start with a BIG List

Wish you All the Best!!

DSCF1469

When the Principles are Right, Even Failures are Forgiven

As a first-time entrepreneur, you may feel lost or scared at the thought of starting out on your own.

Too many times, would-be business owners are dissuaded because of reasons that can be bunched into 2 main categories:

  • Don’t Know Where/How to start
  • Fear of Failing

I am here to narrow down or simplify the problem for you.
You see, focusing on “methods” is only going to confuse you the more you think about them. That’s why you need to focus on the “Principles of success”, not so much on the “methods”. That’s how specialists spot opportunities and capitalize on them before everyone else.

With a deep study of Principles of success, you can see into the future, and recognize the pearls from the dust.

Over time, you will see that sticking to the Principles paves the path for you, the longer you stick to it, and even your failures turn into eventual success.

I list the Principles of success that have helped me build a successful career in startups and small, home-based businesses

1) The market comes first, the product comes later.

a) Study the market you want to attack. More often than not, your instincts will tell you which market to select. Typically it is the area of deep-seated passion, something that resonates with you – never mind that you may not have any experience in that area. It is typically the domain where you would choose to work even if there was no money involved.
b) Do not worry about developing a product or service. Start with Affiliate products or sell for someone else to get a flavor even if you plan to roll out your own product.

2)Focus on building Residual Income

In the beginning, you may have to stretch a lot in order to achieve your cash-flow goals but try as much as possible to convert to residual income.

Promote a subscription product. Build a team to take on the daily nitty-gritty so that you can focus on growing the business, even if that means parting with your profits. Have your money go to work for you

3) Do not bet the bank

The big benefit of focusing on the market, whether through affiliate marketing or via Network Marketing is that you can get a flavor of success without much initial investment.

This gives you the opportunity to risk small and get inside the game.

We are living in the Information Age now, and 2 glaring truths of our post-2008 correction era are that

a) Cash is King and

b) Businesses are built on small incremental successes, with aggregation forming the basis of profit, rather than huge setups with high startup costs that do not guarantee they will succeed on the back of their size (remember the “too big to fail” companies that just failed?)

4) Start Part-time

Ashwin Sanghi writes in his book 13 Steps to Bloody Good Wealth – “Take the example of a friend’s daughter. She is a video editor who works for an ad agency from 9 am to 6 pm. But over the weekend she dons a baker’s hat and swaps her editing tools for measuring cups. Soon she set up a Facebook page, and lo and behold a business was born!. She recently went on a European holiday with the money earned from her “hobby”. The trick is to set up a successful ‘side hustle’ or micro business that provides an alternate source of income.”

That is what I love about Online Affiliate Marketing businesses or even Network Marketing businesses. They are designed NEVER TO BE FULL-TIME.

Of course, once you get enough success, you might want to amp it up and do it full-time, but the industry is scattered with thousands of success stories of people who built their fortunes working part-time.

5) Track EVERYTHING

Working in a silicon valley startup I learned that there’s no such thing as too many reports. In addition to your marketing efforts and returns, you need to track Operations, Finances, timelines to delivery, Everything.

Big companies are run by reports. So should your small business, since you’re spending your hard-earned money, energy and time on it.

You must often revisit what’s giving you a good return on your time and money, and what you need to discard. The speed of evolution must be rapid.

6) Fail early, Fail fast, fail cheap, fail often

Finally, let me address the biggest reason for never starting out, or for stopping dead in your tracks every now and then – the Fear of Failure!

The Cure for Failure paradoxically is …. more failure. However, you are trying to prevent Big Failure by risking hundreds of small, frequent and cheap mini-failures.

The Age of Entrepreneurship is the Age of Learning. After all, whatever you’ve read in books has already been tried…and commoditized over time by the ones who reached there before you.

You need to invent, execute and track a series of small innovative steps and create your own money-making machine. And I guarantee you that there will be hundreds, if not thousands of failures in doing so.

Do NOT fall into the trap of trying to prevent errors – instead, try to reduce the cost of those mistakes.

With ‘fail fast-fail often‘ there is a clear link between failure and innovation, rapidly turning small mistakes into creativity: only by failing do we learn to succeed.
This also helps understand trends better, and build calibration.

In the new book Just Start: Take Action, Embrace Uncertainty, Create the Future, authors Leonard A. Schlesinger and Charles F. Kiefer write: “In the face of an unknown future, entrepreneurs act,”
“More specifically, they:

Take a small, smart step
Pause to see what they learned by doing so; and
Build that learning into what they do next.”
Entrepreneurs try, learn and refine. It’s not about failing fast or slow, it’s about learning how to win.

With this, I wish you the best in your journey as an Entrepreneur. See you on the other side.

If you’d like to get started with a low ticket offer (with no recurring fees or subsequent purchases), in order to perfect your skill set and make a few thousand bucks, try out my auto-replicating funnel at www.retirenow.club

DSCF1483

How to Suceed in Network Marketing

Now that you’re probably adept at distinguishing a legitimate Network Marketing business from an illegal scheme (hyperlink to prev article), let me show you to succeed in different types of Network Marketing compensation plans.

First and foremost, let us visit the basics.

Whether you’re in Network Marketing (or any other type of Affiliate Marketing), or any type of business – in a bid to make money for yourself, you need to clear your head and fulfill these 2 criteria:

1) You need to respect money..

Money is good. It is a force for doing good in the world. And it solves most of your problems.

Period.

2) You need to learn how the money is made.

By this I don’t mean that you need to be a bad-ass businessperson who knows how to pump money out of dry ground, but that you understand the principles of making money.
The principles of making money are fairly simple to understand, even if you’re … say .. a schoolteacher or a cello player with no prior education in Business or Marketing.

Apart from a few basics, it mostly involves getting your ego (and your expensive education) out of the way…after all there’s a difference between being skeptical, and being stupid – y’know what I mean ?

Next, you need to start getting up to speed on Network Marketing basics:

3) Get conversant with Comp Plans

Different MLM companies will offer different ways of collecting tiered sales commissions. That does not mean that one of them is genuine and the others are not. It just means that different companies follow different comp plans – that’s it.

(Needless to say, stay away from any company that tells you that you will be paid based on your position or will be paid for little or no work)

NETWORK MARKETING COMP PLANS

a) Stair Step Breakaway/Coded Plans – You get paid on your network volume up till a certain level, beyond which you make residual income from the network.
b) Unilevel
c) Matrix
d) Binary – You build 2 main legs, and put all of your sponsored affiliates into one or the other
Flushing Binary – You have a limited time (typically 4 weeks) to match your left and right side volume before it “flushes” or disappears
Non-Flushing Binary – As long as a distributor makes a minimum monthly personal volume, their team volume accumulates or “banks”.

NETWORK MARKETING COMP PLANS

a) Stair Step Breakaway/Coded Plans – You get paid on your network volume up till a certain level, beyond which you make residual income from the network.
b) Unilevel
c) Matrix
d) Binary – You build 2 main legs, and put all of your sponsored affiliates into one or the other
Flushing Binary – You have a limited time (typically 4 weeks) to match your left and right side volume before it “flushes” or disappears
Non-Flushing Binary – As long as a distributor makes a minimum monthly personal volume, their team volume accumulates or “banks”.

4) Operate on the edge of your ability.

If you’re doing something and succeeding 80% of the time, you’re probably wasting your time and not stretching enough.

In network marketing it’s doubly true.

Since it involves meeting and presenting to a lot of unknown people, the more uncomfortable it makes you, the more you inch towards success.

In that regard, growing your skill set and your income is no different than growing your muscles. You’re either growing, or dying. And in order to be on the other side of dying, you need to be pushing yourself and operating outside your comfort zone.

5) Practice, Practice….Practice…..

Practice your skill set till it becomes second nature. You will get better with time.
After the first week or two of intense practice, the interpersonal interactions start to become a blur.
Patterns emerge over time. Puzzling responses from prospects start to come clearly into focus. Situations and reactions can easily be predicted before they occur.
Over time you will devvelop powerful and cute social intuition, finely tuned from time spent in the field – this is known as calibration.

6) Mentor others

This is a whole subject in itself.

How do you mentor others?

Take a guess…

Do you take classes, or be an adviser, or take apprentices … what do you do?

Well, this is where a surprising lot of marketers go all wrong. The moment they have a couple affiliates join them, they go into “coaching mode”.
Unfortunately that doesn’t work in modern times (Check out my article on Mentoring to know WHY).

So how do you mentor others?

You mentor others by working not on OTHERS but on YOURSELF. Rinse, repeat, rinse, repeat, rinse, repeat – till you hit gold for yourself.
Your team will see you and learn themselves.

Real leaders don’t really have time to teach others. They can just set an outstanding example and leave it to others to learn for themselves.
So, that’s it with this post.
I wish you good luck ad success in your own Affiliate Marketing or Network Marketing efforts.

If you’d like to get started with a low ticket offer (with no recurring fees or subsequent purchases), in order to perfect your skill set and make a few thousand bucks, try out my auto-replicating funnel at www.retirenow.club ‘

DSCF1496

The #1 Secret to MLM Success

I bet you would like to know the secrets to MLM success, don’t you?

In today’s time, there is absolutely nobody who has not been exposed to a Network Marketing Opportunity – either as a potential customer or as a potential partner.

And I bet that there’s NOBODY with ambition, who has not wondered how some people become successful Network Marketers while the majority remain average or even fail to get off the ground.

The Main Pitfall

Since a Multi-Level Marketing (MLM) business allows you to act as Master Affiliate of your own business and sign up sub-Affiliates (or your Downlines), it behooves you to typically start with an initial list of your own immediate circle – relatives, friends, acquaintances to prospect as customers or partners.

However, the majority of MLM marketers stop there!

Once the list finishes (and everyone has possibly said NO), it’s Game Over for them.

That’s what makes the difference between the Winners and the Losers.

The #1 Secret to MLM Success

YOUR NETWORK IS YOUR NET WORTH

Write that down. Memorize it. Repeat it to yourself on the way to work every day.

“My Network is my Net Worth”

Once you do that enough number of times, it will, in all probability dawn upon you that the size of your personal circle is not enough to accommodate all of your ambitions.

MLM success is directly proportional to the s

And hence, you need to EXPAND your network.

And this network expansion needs to happen at a speed that is 20x as fast as it has grown till now.

Come to think of it, in all the years you’ve been on the planet, you have less than 500 people you can call RIGHT NOW and invite to your house to see a business plan.

(I’m joking – most MLMers start with way less than that – maybe 100-200 if at all)

And if you want to be driving that dream car, or paying off that dream house, or have your spouse quit their job to stay at home full time, you would probably need 20x that list size to accommodate your dreams.

How to Grow Your Network

  • Get back in touch with old networks – Pull out your old school and college yearbooks and get back in touch with old buddies
  • Be an avid prospect – This is by far the easiest of the lot. Meet all the insurance salesmen you can get your hands on, go test drive that dream car (and take down all the salespeople’s phone numbers), go to Real Estate open-house events, especially in neighborhoods that you want to move to, once you make your first million dollars from your MLM business
  • Be an avid hobbyist – Get a life. Take a free class. Build a hobby. Learn a language. Join the gym. Anything but stay in the house. Even if it is once or twice a week (let’s say for a language class), make sure you spend that time meeting new people.

Yes – being rich is a lifestyle change, in case you didn’t hear it from me before. The wealthy are all about meeting new people and exploring new ideas.

  • Volunteer – Whether it’s for your church or your community, help out. Notch up those karma points and build your network in the bargain.
  • Be an involved parent – Get involved with your kids’ PTA or sporting groups. If your kids don’t play sports or music, get THEM to spend time outta the house first. Video games are not good for anyone’s health anyway
  • Be an involved customer – Interact with the people you buy stuff from, even if it’s the McDonalds. Compliment the staff on their hard work or the quality of their product (which obviously comes from them). And if they ask what you do, hand them your MLM Business card

As I already mentioned in my previous post, most Network Marketing companies provide support and training so they will help you with some of these things in detail.

How to Become More Like-able

  • Smile – Become an ‘Always-Smiling’ personality even if you did not start out that way. Learn to be smiling even when your day is not going okay. Not only does it have a gazillion health benefits, a smile is a universal sign that says “it is safe to talk to me”.
  • Eye Contact – Learn to make eye contact with everyone. This shows you are confident and trustworthy
  • Become a Great Listener – This helps in finding common ground on which to grow the relationship.

Demonstrate to the speaker that you are listening intently – a) Give spoken feedback, like a clarifying question or affirmative agreement b) Give physical feedback like nodding your head or shrugging your shoulder

  • Ask Open-Ended Questions – Ask questions that start with What, Where, When, Why, How. These lead to longer discussions, and more scope for finding common ground
  • Say Their Name to Them – Use your new friend’s name in the conversation as much as you can, it is the sweetest sound in the world to them.

Housekeeping Item: When dealing with the opposite sex in an initial interaction, just make sure to dissolve any potential misunderstandings upfront. You could do that by casually mentioning your boyfriend, girlfriend, husband, wife as appropriate in order to anchor the context of the interaction properly.

How to Outperform Using Technology

As a booster strategy, you can throw in Social Media into this to supercharge your success.

Watch out for my next post!

Till then, get out of your house and get friendly. ‘

DSCF1502a

The Difference Between Being Super Rich and Wealthy

The Difference Between Being Super Rich and Wealthy…

Would you like to be super rich, or merely wealthy?

What do those terms mean anyway? Does being Rich, and/or Wealthy both mean the same thing?

Well, Internet searches are for the layman…for the idle observer – but there’s a world of difference between being Rich (or even Super Rich) and being Wealthy.

You see, being Rich and being Wealthy are not quite the same … and the only people who know are the ones who’ve made it there.

And that makes a world of difference.

Being Rich

You can get rich by working in a well-paying job, or working as a top-notch salesman, or working in the movies or being a top athlete. However, regardless of how much you get paid per hour of your work, the 3 big limits of Active Income hold you down. (Also see article on Active Income vs Passive Income)

But to be WEALTHY, you HAVE to be making Your-Money-WORK-FOR-You!! None of the limits apply to you.

If you do not understand what that means, do check out one of my old videos right here.

Rich people go to work for money. Actually even the poor and the middle class do the same. The only difference is that the rich get paid more for their work than the rest of us.

Being Wealthy..

The Wealthy have their money go to work for them.
In reality, there are other ways to get wealthy too. If you’re an inventor, or a singer, for example, you can make royalties from your product if it becomes a hit.

You are wealthy because the 3 limits of Active Income do not apply to you.

So, if your household expenses are – let’s say – $2000 a month, and you get paid $10,000 a month, well you could say that you’re richer than someone who makes $8000 and has expenses of $2000. [Monthly household expenses is the key here. If you make $20,000 a month and your expenses are $21,000 then you’re not rich; and allow me to say that nobody can help you]

However, if your household expenses are – let’s say – $2000 a month, and the royalties from your hit single are $3000 a month, you can safely say that you’re wealthy.
Same is the case if your patented product brings in $3000 of royalty commissions a month, or your dividends from your stock bring in more than $2000 a month, or the rent from your apartment complex is in excess of $2000 a month.

You see, being Wealthy is all about the How and not about the How Much. If your METHOD of making money is inherently wealth-generating it does not matter if you make lowly profits to start with. The income stream survives on its own, and your additional efforts just go to grow the monthly income figure thus making you wealthy over time.

However if you are merely Rich (or Super Rich), you’re replacing (or sustaining) your income every day that you go to work, and the day that you stop that you fall into a ditch. That’s how well-known celebs of yesterday go bankrupt today with such frightening frequency. There comes a time, when they can’t keep up. And their lifestyle eats up all of their money in a relatively short while.

So the moral of the story is that whatever you do for money should be in an area that allows you to have REAL Wealth, and not merely a lot of money. You can start small, and grow it over time, so that it goes to work for you and does not fade away over time. ‘