Network Marketing Objection Handling: The “No Money” Objection

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If you have ever worked in network marketing for at least a day, or have at least prospected a few people, you have heard the objection “I don’t have the money for it”.

It may seem everyone is broke, and no one can afford to join the business. This objection is the most common of all, and is heard a lot when a person is new. But in today’s post, I will share with you how you can overcome this objection, and begin signing up people, even when they claim they have no money.

What “No Money” Really Meansnetwork-marketing-objection-handling-no-money

When you hear someone tell you they have no money or don’t have the money to join, it means one of a few things. The one thing is doesn’t mean, is they don’t have the money to get started. It is very rare that someone seriously can’t come up with the money or has no way to get it.

The “No Money” comes in a lot when you are new. It’s okay, because you haven’t learned to make your prospect see the value in what they are spending their money on. Most people are not looking at using their money to create more money. They are looking at money as something you get for working your time in a day, and trading it for something you want to enjoy.
If you learn to help people see the value in why the money is a very wise investment, and the benefits they get from investing in your business, they will be more likely to to give no objections.

Another reason people say they have no money is to try and make you work for them. They want you to dance and beg.

And of course, some will see it as another cost on top of what they already spend each month. Of course, many people live by how much they make, and have very little extra money laying around after paying their bills.

objection-network-marketing-no-moneyDecide Why They Used The “No Money” Objection

First thing you will need to do, is to figure out for yourself why they used this objection. Are they simply not interested? Are they spending too much every month on their bills, hobbies and lifestyle? Or are they trying to make you sweat and earn their business?

Once you are given the “No Money” objection, quickly ask them the question “Are you telling me this to get in, or to get out of it”?

Let them admit either they are not interested, or they are and are really wanting in. If they are not interested, it’s fine. It just saved you a lot of time wasted trying to convince someone to better themselves. Let them go, thank them for their time, and move on. Never keep trying to interest them, because they may be trying to make you dance. Some people will try to get back into the deal if they see you are not effected by them not joining.

If they are wanting in, but think it’s because they don’t have enough each month, you reply with something like “Not a problem, how far are we from getting X amount of dollars”? (amount for the startup cost in your company)

Sometimes they have money saved up, and don’t need the full amount to find. You can find out what all money they spend each month on things or products they actually don’t need. Fast food, drinks, movies, entertainment, etc. Simply cutting a few things out for a few months will provide them the funds. Also be sure to look at any savings they may get from the use of your product. Sometimes they are already paying for a product or service you are offering.

People have to see that by simply changing their spending around, can give them a life of more abundance. Help your prospect understand this, and the numbers of signups will increase.

Avoiding Objections In Generalno-money-objection

Objections can be overcome, but regardless, no one wants to have to overcome them. It would be much better if prospects would just join with excitement, right?

Well that is the case sometimes, and the more you learn about sponsoring and prospecting, the more the case it is.

After reviewing Ray Higdon’s “Master Sponsoring Secrets” I learned to eliminate objections on a much larger scale. Prospecting becomes enjoyable when you can do this.

Review Ray’s course and you will learn how to find your prospect’s pain, and use that with your prospect. This really increases a person’s ability to see more value in joining you. Learn how you can be much more confident in your business as well, becoming more attractive to your prospects.

There are 4 modules worth of life changing material in “Master Sponsoring Secrets”. Review it today, and I assure you, you will feel like a professional prospector by your next appointment.

MASTER SPONSORING SECRETS – The ultimate sponsoring guide to network marketing success

 

P.S If you would like to learn more strategies to develop new prospects, be sure to register for our next upcoming “IBO Advanced Marketing Strategies” webinar. Attendance is free every week, and the strategies are the most effective and up to date you will find.

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About The Author

Jaye Carden

Self Employed Network Marketing Entrepreneur

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8 Comments

  • Chris Shouse

    Reply Reply October 7, 2016

    Great tips here Jaye and some good pointers on overcoming that objection.

  • Terri Pattio

    Reply Reply October 12, 2016

    The word prospect is one I don’t use. I refer to people as friend or potential business partner/customer. I want to develop a relationship with them. In time they will ask me what I do for a living, and then I can decide to tell them if I feel it’s the appropriate time. Most times they ask because they know, like and trust me. This is because I took the time to get to know them first. Relationships is the key to success. People join people, not the company or business. It’s best to lose your money agenda and focus on getting to know them first. Personal development is a must to get rid of the money agenda. ~Terri Pattio – MLM Coach/Mentor with a servant’s heart

    • Jaye Carden

      Reply Reply October 13, 2016

      Thanks for the comment Terri! I’m glad you shared your insight.

  • Carla

    Reply Reply February 10, 2017

    Wow…so very thorough! Whenever you hear excuses, you know that the prospect is either not ready yet or not a true entrepreneur!

    • Jaye Carden

      Reply Reply February 11, 2017

      Usually objections like these come when a prospect isn’t interested, so it’s always best to find out if that is the case.

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