I talk to fellow network marketers on a regular basis that think the concept of “cold calling” is some left-over business concept from the 80's that just doesn't work in today's hyper-skeptical society. It's interesting listening to these people give the reasons why they think cold-calling is an absolute waste of time:
•“People hate telemarketers”
•“The Do Not Call list makes it impossible to cold-call”
•“I hate talking to strangers, it's uncomfortable”
•“People won't buy from you unless they know you"
Really? Is warm-market marketing the only way for a network marketer to grow their business?
When someone tells me that the only way to grow a networking enterprise is to warm-market their product or service, I walk away. The reason I walk away is because I know for a FACT that I'm talking to someone who doesn't know the first thing about marketing.
Let me explain:
When someone buys a franchise, they don't make a list of 100 friends or family as the foundation of their marketing campaign. When a retail establishment opens up a new store in a new location, the managers don't “warm-call” all their friends, and hope to build a six-figure income off that type of marketing campaign.
It's the same thing for networkers.
If a distributor is told to simply go out and attempt to leverage personal relationships in the hopes of attaining some sort of financial benefit, then that distributor will probably fail. Why? Think about it. We all hate being sold stuff we don't need, so when a friend or family member attempts to sell us their product or service when we weren't even looking for it in the first place, we see straight to the bottom line, and the bottom line is this: we understand that the friend or family member doing the selling is attempting to use their relationship to leverage a financial gain. And that is absolutely offensive.
So what is the alternative?
COLD CALLING!
But not just any type of cold-calling will work. It has to be systematic, and it has to be well planned. Here's the process:
1. Acquire Leads – It all starts with leads. Now, most network marketers are familiar with the “opportunity lead”, which costs about $5 - $7 a pop. They're usually not worth the paper they're printed on. Opportunity leads are what is known as a “response” lead, or a lead that simply responded to some sort of message. Many times, the lead actually filled out a pop-up ad to win a free laptop, and then their data was actually pawned off to a lead brokerage firm as an “opportunity” lead.
What a rip.
How about this for a lead. Lets say, for example, I'm marketing a nutritional product that improves the body's ability to heal itself. If I were marketing this type of product, I'd go out and get a lead that has purchased a similar product or supplement in the previous 6 months, so I know that they were recently looking for my type of health solution. I would also specify that they buyer have used a credit card, be between ages 35 – 60, and have an annual income of over $50,000 per year. Why? So that I know the lead is actually looking for my type of solution, is willing to spend money on my type of solution, and has a credit card so that if we get to the point where we want to do business, I can take payment over the phone immediately. And the best part is that when you know how to purchase these types of leads, you can buy them for as cheap as $0.07 per name.
2. Design A Script – Yeah, I know, there are plenty of people out there that say that scripts sound fake or “canned”, that you should just be natural, be yourself. Hmmm. Do McDonalds or Honda change their commercials every single time they air? How is it that if I turn on my TV, and you turn on your TV, we each see the same commercial? Maybe it is because that in order to track results, we have to have a consistent message. The people that think scripts sound phony have never used a script. Actors read off scripts all day long, and we spend our hard-earned dollars to watch them read scripts to us. We watch TV shows all night long, with the people on the shows reading scripts the entire time. But they don't sound canned. They sound professional. Pro's use scripts.
The telephone is one of the most powerful business growth tools available to network marketers. In the right hands, it can add thousands of dollars per week into your business. Not utilizing this tool is simply limiting the amount of business you can complete in a days time. If you don't know how to use the telephone, that's fine. Find someone who does, and learn from them. Anyone who doesn't think the phone can grow a business probably doesn't even have a business.
Use the phone. Your checking account will thank you.
I, Josh Fuson, accept full responsibility for these words. If you have any questions regarding this material, you can contact me directly at my home office at 641-856-7555. Copyright 2006 Fuson Enterprises.
Ftp Doesn T Work
Sometimes, people know their accounting systems don't work. And they don't care. But, sadly, sometimes, the struggling small business person doesn't even know his or her system isn't working—until it's too late. Until the business fails because the owners don't realize they aren't making money.
Fortunately, perhaps surprisingly, you can usually tell pretty quickly whether an accounting system like QuickBooks, Peachtree Accounting, or Microsoft Small Business Accounting works the way it should. Just look for one or more of the following four symptoms.
Symptom #1: You Don't Know How Much Cash You Have Right Now
Any accounting system, run right, tells you how much money you have in your bank accounts. To the penny. Accordingly, if you can't look at a bank register in your accounting system and see how much money you have, sorry, your system doesn't work.
Symptom #2: You Don't Know How Much Money You Made Last Week, Month or Year
Here's another symptom of things gone bad. With just a few clicks of your mouse, you should be able to produce an accounting report called a profit and loss statement that tells you whether you made money last week, last month, last year, and so on.
A profit and loss statement simply summarizes the revenues and expenses of a business for an interval of time and then shows the difference between these subtotals—which is your profit or loss.
Now, this instant access to profit and loss information wasn't always the case. In the past, people often waited until the end of the month or even the end of the quarter to send off their financial records to an accountant or bookkeeper. A few hours or a few days later, the bean counter produced a financial statement that showed whether or not the business had made money.
No more. If you're doing your accounting right using something like QuickBooks, you should almost always be able to see whether you're making money or not. And at almost any moment in time. That's the point.
Symptom #3: You See Goofy Numbers on Your Balance Sheet
The first two symptoms are pretty obvious, I guess, but the third symptom is sometimes more subtle…
Turns out you can sometimes produce a profit and loss statement that sort of looks right--even if it sometimes isn't. If you can produce a balance sheet that doesn't have goofy numbers, though, that's more telling. You can't fake a balance sheet. Accordingly, carefully check out your balance sheet report.
A balance sheet lists assets, liabilities and owner funds invested or reinvested. If you don't see goofy numbers on your balance sheet and your profit and loss statement looks right, you accounting system is probably capturing data in the right way.
Goofy balance sheet numbers include things like a big negative bank account balance, clearly incorrect accounts receivable or accounts payable balances, and any other accounts with strange names or balances.
Symptom #4: You Get Lots of Adjusting Journal Entries from Your CPA
Many accountants prepare a handful of end-of-the-year accounting entries for their small business clients. I often do this, for example, when I prepare a small corporation's or small partnership's tax returns.
Now don't get me wrong. Preparing a handful of accounting entries is expected. Especially for amounts you can't easily calculate—such as tax return depreciation.
If, however, your accountant or bookkeeper is making many other adjustments, you should verify that the accountant isn't adjusting accounts at year-end because you're not regularly tracking the account as you go through the year.
Heaven help you, for example, if your poor accountant finds himself or herself adjusting your cash accounts (this means you don't know how much cash you have—which is of course symptom #1 above) or making large adjustments to any other accounts such as inventory.
Large end-of-year adjustments means your accounting system means just one thing: The books aren't up to date with the financial realities of your operation. This lack of up-to-date information, sadly, means you may be flying blind.
Both Joshua Fuson & Stephen Nelson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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