The Direct Selling Association (DSA), using data which includes the top 20 direct selling member companies – AdvoCare International, LP, Nature’s Sunshine Products, Inc., Ambit Energy, Nu Skin Enterprises, Amway, Rodan + Fields, Arbonne International, LLC, Scentsy, Inc., Herbalife, Shaklee Corporation, Isagenix International, Stream Energy, LegalShield, Take Shape for Life, Inc.-Medifast, LifeVantage Corporation, Team Beachbody, Mary Kay Inc., Thirty-One Gifts, Melaleuca, Inc., USANA Health Sciences, Inc. reveals some amazing facts and figures.
Over 18 million people were involved in direct selling in the U.S. in 2014, with estimated retail sales reaching $34.5 billion, a 5.5% increase from 2013. (PRNewsFoto/Direct Selling Association)
According to date released at the DSA annual meeting June 1st, 2015, retail sales volume among U.S. direct selling companies grew 5.5% between 2013 and 2014 to $34.47 billion. Individuals involved in direct selling increased 8.3% during the same period, surpassing over 18 million (18.2 million) Americans for the first time.
You just crossed the finish line and got the checkered flag. This was the best presentation you have ever given. The prospects were engaged, their eyes lit up when you shared all the benefits, and you know the close is in the bag. And as you pull out the pen and turn the agreement around for them to sign, they lean back and say, “I have a few questions”, but what you hear is “I have some objections.” So what do you do?
Don’t see an objection see a question. Although the objection might sound like a verbal attack on what you just shared, brush it off and rephrase what they just said back as a question. If their objection was phrased as a question, then provide a direct answer by sharing the benefits you will provide them.
Turn their objections into reasons for buying. One common objection in any sales situation is “The price is high, or why is your prices so high?” Don’t back away from this objection, instead share confidently that at times higher prices is a sure sign of higher value! And if you have done your homework or are observing your prospect, you can use something you have observed they already value and use that as an example.
Reveal hidden objections. Be bold and ask, “do you have any other concerns, we have not covered”? If there is a common objection you have heard in the past, and your prospect hasn’t brought it up, then share it and the answer. And if you see your prospect has real concerns and is digging to get the answers before making an informed decision, look them straight in the eye and ask “if I am able to answer all your concerns today and show you the value of doing business with me, can I earn your business today?”
Stop the objections before they are raised. I have learned that asking the right questions from the beginning of my presentation can eliminate objections before they are raised. One very important question is to confirm that you are talking to the right person. I often ask “is there anyone else who you will want to talk with before making your final decision?” If they say yes, then I stop and we schedule a time for all the decision makers to be present for the presentation. Remember your time is your most important asset, and you can’t get it back!
Reach an agreement. Empathize; never sympathize with your prospects. When you prospect raises an objection like your prices, then don’t act as if this is the first time you have heard the objection. Respond with complete understanding “Yes I hear that often, and you are right my prices are somewhat higher. However, with us you will get the following added value, that I have not found with the majority of our competitors.”
Never hype your product or service over the objection. There is no such thing as a perfect product or service. Even with purpose driven companies, there are times when their products will fall short. Don’t try and prove your prospect wrong when they raise a solid issue, admit it, share what the company has done to fix it, and how their input as a new client will help them deliver better products and services in the future. Remember trust is the key to a successful close.
Although there are many more you may write down as you build your home-based or small business, these six should get you rolling.
It always amazes me how leaders inside the home business profession try and dictate team culture instead of influencing it. From company executives to top field leaders, I still come across folks who believe that based on their “rank” they have earned the right to lead, when the reality is, they are just dictatorial managers.
Now don’t get me wrong, I do not believe the majority of these folks are trying to sabotage their success or their team’s growth. I believe that in the majority of cases, people are just following the status quo of traditional business.
So, how do we stop dictating our team culture and start inflicting it?
Wouldn’t it be a blast if, like horse breeders we could cross breed strong powerful sales leaders, and within a few months they would start duplicating and producing other great sales leaders and before you know it, our home-based or small enterprise will have become the next media sensation? Yet, at times I think that’s exactly what many home-based and small entrepreneurs think will happen when they go after sales folks in their competitors pastures.
Like rustlers from days gone by, more and more I am witnessing good-hearted entrepreneurs doing just that. They are falling into the trap of thinking its better to go after their competitor’s sales force then growing and maturing their own. It’s like some magic will happen and their company will explode. Now don’t get me wrong, when a large group moves into a company there will be a rise in sales, which can be seen as momentum, when in reality it just like a wild horse stampede, it’s a magnificent sight to see, but once the bulk of the herd have stampeded over the fence and scatter, then there is nothing to see but the meeting dust of the herd. And if the majority has followed a leader over the edge, hit quicksand, or have found a new pasture, then most will die off and leave the company financially devastated.
Here are five myths I have found that happens when we go after our competitor’s sales leaders.
Mannatech Reports Positive 1st Quarter Results – First quarter net sales for 2015 were $44.4 million, an increase of 3.3% as compared to $43.0 million in the first quarter of 2014. Mannatech’s net sales increased 7.4% in constant dollars, which is a non-GAAP financial measure that excludes the impact of fluctuations in foreign currency exchange rates.
This story broke yesterday when Tom Harvey, of the Salt Lake City Tribune, published his article. I went through the whole article I realized several issues. First is the fact, there are many moving parts of the rise and fall of MonaVie aka MYNT, and Second…
If I get this right, and it’s tricky as I said there are many moving parts, and we are just now pulling the lawsuits and filing, here is what I see on the surface.
1. In 2010 two transactions took place (not sure of which came first at this point); major stockholders sold their stock valued at that time at $186 million to the EMPLOYEE ESOP secured by a high-yield (article called it an “exorbitant interest rate), and during this same year, MonaVie executives sought out financing for $182 million from TSG-MV Financing LLC, securing “virtually all the assets” of MonaVie.
Unlike Network Marketing, NASCAR has outgrown it’s early days of controversy, where the South’s best Ridge Runners (those who transported illegal Moonshine, from the Still sites, to the Speakeasies), decided to get together to see who was really the best. Back then there were no rules, and everything was acceptable. It was win and win at all costs, kind of like network marketing seems to be today! But what if…
What can bring 28 female entrepreneurs together… Empowering other women! When I learned about Women United For ChangeI knew these ladies were on to something.
My friend, Laura Wells reached out and shared with me that not only was she a founder but several other dear friends like, Michelle Barns, Janine Finney, and Lory Moorland where also founders! I knew this was a movement I could put our whole team behind!
Over the years as I talked to each of these women individually, each shared the same vision of empowering women in ways that would improve their lives and the lives of their families.
Now to see them come together under this one common cause is a dream come true!
Take a few minutes and watch this video and learn how you can become a part of this amazing movement to Empower Women across the globe!
Welcome to this addition of the Home-Based and Small Business News & Info report. My objective is to provide this community with news and info that can help you build a successful enterprise no matter how large or small.
Something I noticed is that the majority, if not all these companies are a very solid purpose, mission and vision statement for their company and individual brands. They all know where they have come from and where they are going!
The last 24 hours has been very exciting for Kannaway. They received a valuation from $119.6-242.7 Million Valuation by Houlihan Capital which locked down the purchase of the company by Medical Marijuana Inc. (Full Release)
Yesterday at a press conference in Dallas, I watched as Kannaway announced the opening of their new Dallas regional office. This is a new business strategy lead by Dallas real estate broker, Wes Bishop.
Bishop in his career, has sold over $350 million in real estate and has agreed to help Kannaway acquire prime real estate in Dallas, Houston, Atlanta, Miami and other strategic locations as Kannaway expands from their current Southern California headquarters.
At yesterday’s press conference, news crews from all around Dallas attended to learn, not only about Kannaway but about four-year-old Harper Howard became the local example of the benefits of using cannabis hemp oil. Her seizures are decreased, according to her mother, due to the cannabis hemp oil she takes orally.
Although it’ still too early to know how this new business strategy will work, the one thing that is clear… Hemp is here to stay, and people are being helped by the benefits of the Cannabis plant.