Have you ever had a prospect on the phone, or on Facebook messenger, or even face to face, you have done all of the work to get them to sign up in your company but they come up with an excuse as to why they cant join?
I have too but I learned how to fix it.
Think about this for a second. Now I don’t know your numbers but everybody has a ratio of how many prospects they talk to vs. how many people they can close.
Again I still don’t know your numbers but imagine you sign up 1 out of every 10 people you talk to. Now imagine you get good at handling objections and that number goes up to 4 out of every 10 people you talk to.
Do the math for the business that you are in, and think about how many more prospects you can sign up over a years time.
I’m about to show you how to handle these objections, and now you will be able to show your team how to handle them.
4 Main obejections
There are really only 4 main obejections that you are going to face. There might be more but majority of the time you are going to run into just one of these 4 objections.
Most people wait for the prospect to tell them what they are going to do, but I like to do it a little different. I will ask questions before we get started so that way they can’t use the objection on me later on in the conversation.
You will see what I mean in a minute, but since I started using this strategy I am able to control the conversation all the way until the end and I can get a sign up a lot more often than I could before.
The 4 main objections you are going to face are:
Ask questions before in the beginning of the conversation
In the beginning of the conversation you want to go ahead and ask them a couple of questions before you ever get started. This is how to control the conversation and it is also going to take away their ability to use the objection on you later.
For example in the beginning of the conversation (after I have already built some rapport) I will say “So Jeff is it ok if I ask you a couple of questions?)
They always say yes and this sets the stage for you to be in control of the rest of the conversation.
Lets get started with the objections.
I don’t have the money
Before I get into this question I just want you to realize that money is never the issue. If money is an objection that comes up, the problem is in your message or your offer.
Let me prove it,
I learned this from the late Mark Hoverson,
Anybody can come up with $10,000 at any given time. I know that might seem far fetched because if I were to ask you for $10,000 right now I can guarantee that you say no.
Now lets look at it a different way,
I know a guy that has a Rolls Royce sitting in his garage, brand new it costs $400,000. That’s a lot of money,.
Would you agree? Of course you would.
Lets say that guy go’s to a party, you are there and he just doesn’t want the Rolls Royce, he is going to get rid of it but he wants to get rid of it tonight.
He tells everybody that he is going to get rid of it tonight and you can have it for $10,000 but you have to have the money by the end of the night.
How fast can you come up with the money now?
I don’t know about you but I could come up with it pretty quick.
My point is that money isn’t the issue, people are never going to buy if they don’t see the value in what they are being offered, so before you can handle any objections you have to be sure you have the right offer and you have found the right prospect for the offer.
Now for the I can’t afford it objection
The first thing you want to do is in your questionaire that just talked about you ask them “Before we get started do you have money to invest in yourself today if we are a good fit for each other”?
Now they can’t use this objection later. Sometimes they will still use it so we will take care of that too.
If they try to uses it you want to ask this question, “So if this were an emergency, where would you come up with the money”
What this does is make them think about different ways they can come up with money. It also gets them out of a defensive mindset because they are thinking about where they can come up with money instead of thinking about you selling them something, and when they answer the question, all of a sudden they do have money.
One more thing you can do is get prospects to fill out an application to work with you. In the application add a questionaire, for one of the questions ask if they have x amount of dollars to get started.
This way you know they have the money before you ever talk to them and if they answer no on the application, you never get on the phone anyway because why would you spend time trying to sign them up if you already know they can’t get started?
I need to talk to my spouse
I love this 0bjection. It’s fun to tackle and after a while it kind of becomes a game to me. I don’t know why.
When somebody uses this objection they are almost always just trying to get you off the phone and use their spouse as an excuse not to buy. Not always but most of the time.
So lets take that power away.
In your list of questions you want to ask if there is a wife, husband, girlfriend, boyfriend that needs to be there while you make this decision.
If they say no you are good to go. If they say yes then all you have to do is ask them to go ahead and get them in on the conversation,
If the spouse isn’t home reschedule.
Now there is no way they can use that excuse on you later because you went ahead and got it out of the way.
If you have already shared your opportunity with the prospect all you have do is tell them well let’s get them on the phone right now before we go any further.
I dont have time
This is also an easy. In your questions before you show them the opportunity you want to ask them if they have x amount of time to do the business. This is going to depend on the strategy that you are using and how much time that strategy takes.
I always just ask them if they can spend an hour a day on their business. Its not a lot of time to commit and they can always move up from there.
Now if they ever tell me they don’t have time after I have showed them the opportunity,
I just tell them that nobody has time, what are you going to do t0 change that?
I used this same line when somebody told me they didn’t have enough time to go to the gym.
It works in a lot of different cases.
Fear is a legitimate excuse for not starting a business. We all have our routines. and it is easy to feel alone when you start a business.
You have to realize before you get started that you are going to have to let people know that they are not going to be alone after they get started.
In your questions ask the prospect if you are a good fit for each other, are you ready to get started today?
Then if they still use it you can go back to their answer and tell them that they said they were ready to get started.
If they try to use the answer after I have shared your opportunity, then I will tell them I know it can be scary but what do the last 5 years of your life look like? Its scary to live the same 5 years over again, so are you ready to get started?
This is powerful because you get to show them why they should get started.
Are there going to be more objections?
Of course there will be but these 4 objections are the most common and most other objections are going to fall somewhere in line with these 4.
Try them out and bring your team to this post so they will be able to handle them too.