Overcoming Objections is one of the greatest skills you can develop if you want to become a top earner in your business. Truthfully, If you’ve been in network marketing or online marketing for more than five minutes, you’ve likely encountered the dreaded I have ‘No Money’ excuse at least once. Am I right? Knowing how to deal with the ‘no money’ objection, will absolutely help you close your prospect a lot more often. Doesn’t that sound great? Yeah..I think so too.
OVERCOMING OBJECTIONS: “I Have No Money…”
So, you do your presentation like a champ. Your prospect is visibly excited by what they just saw. They’re all over it! And then…here it comes…”I love this idea and totally would do it.. BUT I HAVE NO MONEY TO GET STARTED.” There it is…the objection people tend to fear the most. Now..what do you do?
OVERCOMING OBJECTIONS: HOW TO EASILY DEAL WITH THE ‘NO MONEY’ EXCUSE & ACTUALLY CLOSE YOUR PROSPECT! – EPISODE 2
HOW TO DEAL WITH THE ‘NO MONEY’ EXCUSE
I’m going to share with you, a few solid and simple ways to obliterate this objection, but before I do..it’s important to consider a couple of key things. First, if you are getting this particular objection a lot, you may want to scrutinize your own attitudes around money. Typically, the objection we gave when we were presented with our opportunity, is the objection we get most often. Interesting, isn’t it?
We emit a certain energy that is reflective of our own attitudes and limiting beliefs and people do pick up on that, even if they aren’t immediately aware of it. Make sure you are working on you. That will always be a key factor in your success.
Secondly, getting the ‘no money’ objection regularly, could also mean that you are prospecting the wrong people. It’s great that you want to save the world, but ultimately, you cannot build a business if everyone you talk to is dead broke. Recruit up, as much as possible and you’ll also find that there is less need for overcoming objections, as well.
THE NITTY-GRITTY OF HANDLING THE ‘NO MONEY’ OBJECTION
There are several ways of overcoming objections like this. Essentially, the one you choose will depend on your own level of confidence and posture. I’ll share with you the three main ways I’ve learned to deal with the ‘no money’ objection, from the mentors in my own life. Each method deals with determining the validity of the objection, before anything else. From there, they have differing and unique approaches to handling the issue. All are effective and ultimately, the choice is yours.
OVERCOMING OBJECTIONS – METHOD 1: The ‘Straight-To-The-Point’ Approach
I learned this one from Ray Higdon and it surmises that most people who dish this excuse are fibbing. Most of the time, people DO technically, have the money, but don’t necessarily see the VALUE of what you are offering.
METHOD 1: 
With this approach, as soon as your prospect says “I don’t have the money”, you say the following…
“Are you trying to get in…or are you trying to get out?”
This is a very succinct way of finding out if they are just saying that they don’t have the money to spare your feelings, because they don’t want to do it, OR they really don’t have the money and truly DO want to do it.
Asking that question, will let the prospect off the hook, if they are looking for a graceful way out. Either way, they’ll tell you. If they are interested, then continue with these three questions…
Question 1: “So, if you DID have the money, you would be ready to get started with us today?”
Prospect: “Yes..totally…”
Question 2: “Ok…I appreciate that you don’t have the money. So are you saying that you’d like to get started but that you actually do not have $500 (whatever the startup cost is in your business) in your bank account or on a credit card?
Prospect: “No..I don’t.”
Question 3: “Ok, gotcha. So how far off are we?”
The next time you hear an objection, simply ask, ‘what’s your real objection?’ You will be surprised how many times this cuts through all the noise…..” ~Grant Cardone (click to tweet)
Question 3, originally comes from master closer, Cesar L. Rodriguez, and it works so well, that many top leaders are now employing it in their close. All together, these three questions are incredibly powerful because determining their intentions is pivotal, to ensuring that neither of you is wasting their time. Secondly, coming up with the whole amount is a lot trickier to do than coming up with a lesser amount, right? Often, you’ll find that your prospect will say something like…“well..I’ve got $420..that’s it..it’s tight right now.”
So in reality, they are only short 80 bucks..not $500…you see? At this point you can help them find some creative ways of making up the difference. If they are truly serious about it.
OVERCOMING OBJECTIONS – METHOD 2: The 3-Step ‘CAB’ Method
I originally learned a method very similar to this from Tanya Aliza and it works really well. In my opinion, this one is easier for those who are still working on developing more posture.
METHOD 2: in 3 simple steps…
1- CLARIFY: Clarify the objection…
“Ok..Mr. Prospect..I appreciate you sharing that you don’t have the money…but let me ask you quickly…if money were no object…would you be saying ‘yes…I definitely see an opportunity for myself here and I’m ready to get started? It’s important that I understand you correctly…so..if you HAD the money…you’d be getting started with me, today?”
“Because…if telling me that you don’t have the money is your kind way of sparing my feelings, when in fact, you don’t really see an opportunity for yourself…I want ya’ to know that it’s totally ok…I’m a big girl…I can handle it..
I need to be sure. If, truthfully, it’s just the money holding you back…that’s not the end of the world. I can help you come up with a plan on how to get the money and we can get this thing going. Sound good?”
If your prospect truly does see an opportunity for themselves, and the money is the only thing legitimately holding them back, than overcoming this objection is not that tough. Go to step 2.
2- ASK & ARRANGE AN ACTION PLAN – Ask these questions…
‘How far off are we? How much do we need to raise, so that you have the money?”
THEN…
Help them out! Work on getting an action plan in place, to help them to come up with the money. Think outside the box and share stories from your team of people who’ve found creative ways of finding the money. To be totally honest, I’ve sold my share of stuff, to get started in an opportunity and to attend events in the early days. Share with them and get them engaged in the process. They’ll be far more eager and excited if they know about others who have been in the same position and won.
Next…ask this last question…
“How soon do you think that you’ll be able to come up with the money you need?”
Finally, go to step 3…
3- BAMFAM:
This stands for ‘Book a Meeting From a Meeting’ and forms the cornerstone of how my company trains its people. This is the most important step and many people drop the ball here. It goes like this…
“Ok..we’ll allow that time to come up with the money and now we need to set a start date…I’m going to schedule that date in my calendar, and you’re going to mark it in yours. Let’s reconnect on that date and time, to get you started. Why don’t we both schedule in the goal date to have the money raised by, and also, to welcome you to the team.”
ONE MORE THING…
At this point, once you sort this all out, DO NOT let them leave or hang up until you’ve gone over the following with them.
“We have that start date scheduled which is great. Listen, I will not bug you before this date… but I’m going to encourage you to reach out to me earlier, if you get super creative and find a way to make it happen sooner. Truly, I appreciate people who can step into leadership and find a way. Leaders impress me, and get me even more excited to work with them!”
Saying this to them, shows real posture and leadership, on your part AND makes them want to try hard to impress you. Everyone wants to be impressive, right? Ignite their desire for recognition and set them up for success from the very first meet. They’ll thank you for it!
OVERCOMING OBJECTIONS: METHOD 3 – The ‘What-If’ Method
The ‘what if’ method is one that I learned from Matt Morris..though he does not call it that lol. This particular method of overcoming objections, requires a lot more posture. I personally, find this method a teensie bit distasteful and so I don’t typically use it. Ultimately, though, many people have great success with it and swear to its efficacy. Isn’t it wonderful to have so many choices?
The crux of this method hinges on sharing a ‘what if’ scenario with your prospect, to get them thinking about their own ‘no money’ excuse.
This method…looks like this…
Prospect: “I love this idea but I don’t have the money to get started.”
You: “Is it really that you don’t have the money…or is that just your polite way of saying no?”
Prospect: “No, I really DO want to.. and honestly…I have no money, right now, to start.”
You: “Are you certain that you want to do this? You’re totally sure you want to make this work for you?”
Prospect: “Yes…I”m sure.”
Get ’em saying ‘YES!’
It’s important to get them saying yes a couple of times. As a matter of fact, psychologically, saying yes has a lot of power because it puts the person in a ‘yes’ frame of mind, by their own doing. In actual fact, you are helping them sort out how they really feel and almost letting them do the job of overcoming objections.
You: “Ok then…so let me ask you…If I were to sell you a brand new $150,000 Ferrari for a measly 500 bucks, and I gave you 24 hours to come up with the money…would you be able to come up with it?
Prospect: “Well, of course! Who wouldn’t in THAT situation?”
You: “Right, exactly. So can we agree then, that if you really wanted to, you could actually, get the money together? ..well..if it’s ok with you..I’d like to give you a bit of coaching: “Your situation right now….not having the 500 bucks to invest…is based off of the decisions you did or didn’t make two to three years ago. Your situation two to three years from now will be dictated by the decisions you do or do not make, today. That being the case, let’s put our heads together and figure out how to come up with the money, to get you started and earning some income right away…so you will never be at the mercy of a $500 decision…ever again. Make sense?”
Wowza..that’s a lot of good information, right??? I love that there is so much goodness to choose from!
Some Great Resources To help You In a Major Way!
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1) Attraction Marketing and Leadership Platform – Learn More
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2) 3-Minute Expert – Attraction Marketing Edition – Learn More
This course, by multiple 7-figure earner, Ray Higdon, is the absolute #1, gold standard. It will teach you how to blog like a pro and actually earn an amazing income doing it! Without proper guidance, most bloggers simply spin their wheels and never make a dime. As online marketers, our blog is our piece of real estate online. It is, in fact, the only thing online that we own and control. A blog should form the hub of our entire business and deserves to be set up for success from the start.
3) Ultimate Fan Page Profits – Learn More
If you want to truly build a great business leveraging Facebook, you absolutely must have a fan page. Get step-by-step expert instruction by Tanya Aliza, herself, as to exactly how to build AND GROW your fan page like a pro, for the long haul.
Did you get some value from these 3 methods of overcoming the ‘no money’ objection?
I hope you did because my goal is always to provide you with the best possible information and resources to help you build an amazing business online, while having a blast doing it! Feel like Sharing This Because You’re awesome and Love to Share Valuable Info?”
Question Of The Week:
Have you gotten the ‘no money’ objection? If so…how do you deal with it, and how well is it working out for ya? I’d love to hear from you!
“I Simplify Online Marketing and Make it Fun For Entrepreneurs To Increase Their Confidence, Influence and Results”
Make Your Mark!
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