Countering the I don't have any money to start objection.

Discussion in 'General Advice' started by PMHayes, Apr 29, 2008.

  1. PMHayes

    PMHayes New Member

    Here's a real pet peave of mine. It blows my mind, all the idiots out there searching online for a home business that are not willing to lay out any start-up cash. You don't get something for nothing, not in this world. But these geniuses want to start a business, expect to make thousands of dollars almost overnight, with nothing out of their own pockets. When i call leads, invariably one of the first questions, if not THE first question out of their mouth is "Is there any cost to start your business," and when the answer is "yes," they immediately start to back pedal, even sound insulted. "What's my point" you might ask? "We all go through that" you say.

    The thing i just can't understand is the mindset behind thinking they can get into a business with no risk of their own. To buy into a franchise at, say, MacDonalds, or Starbucks has up front cost in the hundreds of thousands. To buy an existing business or building in which to put a business can cost in the thousands. To buy into many online businesses can run you into the thousands, as well. So, when in answer to the how much start up cost question, i say $55.00 up front and $55.00 monthly and they are incsensed at the thought, it just gets all over me. How many businesses are there that will give you all the tools and support you need to produce a lifetime of passive residual income for $55.00?

    I know there are others of you out there who can echo this scenario. I'm talking good solid online businesses, and there are many of them out there, that will make the business owner very wealthy, and all they have to spend is $50.00 to a couple of hundred a month, but these Einsteins can't see that. As soon as they hear that they start talking about scams, rip-offs, or they immediately start talking about how they just don't have any money to spend. If that's true, they need to get a job, because a job is the only thing that is going to give them a paycheck for showing up, working 8, 10, 12 hours a day, or whatever.

    Yes, i guess I am venting, a bit. But, i would love to hear from some of you, some of the responses you give to people like this. How do you counter their feeble excuses? I suppose it's good in that i don't want people in my downline who will wimp out at the idea of spending a few buck to get started. Those are people who will probably fall by the wayside when they don't make money right away. They certainly will not survive the marathon that is a home business. Anyway, i would love to hear what some of you say to this problem. So, let's hear it.
     
  2. opendomain

    opendomain New Member

    I can understand your frustrations completely but I think one thing you have to keep in mind is that MANY of the people searching for business online have a few things in common.

    1. They have seen 100's of ads out there promising something for nothing...how can you compete with that if Joe from bilkyou.com said he can show me stuff for free.

    2. Chances are these people have tried working with Joe from bilkyou.com and signed up for free, then were talked into giving Joe $10, then $20 and 2 months down the road their "free" and investment turned to dust.

    Given these to likely situations you need to understand WHO it is you're talking to first. Once you give your sales pitch get to know their experiences with online businesses.

    I WOULD also recommend some type of funded option for people who can't afford $50 a month.

    I offer a $10 program and OH the times I've heard I can't afford it. BUT Once you give a person a way to pay for it themselves they will thank you forever.

    Most people online want to be able to make money to help their family, they are looking for ways to make money online, so when you start asking them to give you money ALOT of "opp seekers" are going to be turned away.

    Have you tried marketing to other business owners as opposed to opp seekers?

    If you want more info on Funded options send me a PM.
     
  3. jschuman

    jschuman New Member

    One thing that finally dawned on me is some people do not want an internet business. They want an internet job. They are not marketers, they are workers. This is 2 totally different types of mindset. Once I figured this out I have been able to capitalize on both kinds of visitors.

    The internet is the great equalizer in that what you lack in money you can make up for by investing time. For this reason you do see people start online with little or no cash and turn it into a very profitable income for them.

    These type of people are willing to work and develop the skills it takes to make money online!
     
  4. mountainmom5

    mountainmom5 Gold Member

    PMHayes: But, i would love to hear from some of you, some of the responses you give to people like this. How do you counter their feeble excuses?

    I simply tell them that is perfectly okay. I invested in a business because I couldn't afford NOT to, as I needed to make money yesterday. (most people can identify with that!)

    I had a traditional business several years ago so I knew that in order to make any kind of income, you simply had to invest... with most online businesses the cost is a fraction of what a traditional busienss costs to get up and going and then the overhead is next to nothing compared!

    jschuman: One thing that finally dawned on me is some people do not want an internet business. They want an internet job. They are not marketers, they are workers.

    I agree - and I usually tell them to go to work-at-home-forum dot com and see what they can find - lol[​IMG]
     
  5. BillChechel

    BillChechel New Member

    I think that this is probably one of the biggest objections out there. I have actually had prospects ask me to "front" the money for their business so they could "try it out". Try asking McDonalds to give you one of their franchises to "try it out"

    When a person comes out with a statement like that I usually end the conversation politely but quickly. I leave it to them to make the next step. Either they havent decided on the business yet or they truly dont have the money. Either way, I do not have time to waste if there are no specific questions to answer. I am too busy with others who are ready to own a real business.

    It seems though once I targeted my marketing better those "no money" complaints seemed to go away. I think if you are getting too many "job seekers" maybe you need to revamp your targeting strategies and try to weed out these people earlier in the sales process.
     
  6. CSGWAHM

    CSGWAHM New Member

    Honestly, I was like mountainmom......I couldn't afford not to do this. I knew what I wanted and what I didn't want and it was up to me to make it happen. If people want something bad enough, they'll figure out how to get it. Sometimes you just have to get creative in order to come up with x amount of dollars needed to start a home based business, if that is what you're looking for.

    With my business, I'm only on the phone if people call me to inquire about the business, I don't do any calling. You just have to realize that there are plenty of people who really want to have a business like you and they'll come to you. Don't chase people down and expend energy on them, they're not the people you want to work with anyway.

    I know it can be frustating, but just keep going FORWARD, forget the ones that say they can't afford it. One reason or another is holding them back. Good luck!
     
  7. FreeCashMan

    FreeCashMan Well-Known Member

    People are just hurting economically across the world. As well as they've been burned and lost soo much money on hyped up programs. True $55 is not a lot and $55 a month is not a lot, unless you have been beat up over and over trying to win in the online business arena. However, you may be able to get more of them in on your biz if they could get Free Cash to do it. Don't lose good people, that are will to go out and work hard to build their business because they can't get locked into a monthly residual and they are unsure of what results may come and they don't have a love for the product that they are buying, albeit it a great product. Much continued success to you.
     
  8. PMHayes

    PMHayes New Member

    Ok, i'll bite, how do you give them a free cash option. I went to your site, but i don't really want to spend 45 minutes learning about another program. I'm very pleased with mine, and in no mind to change.
     
  9. FreeCashMan

    FreeCashMan Well-Known Member

    Then, i would say you aren't interested. Thanks for looking, though. We are straight up on our site, and explain what a person needs to do to get more information. I hope you don't expect me to try and even remotely explain to you what takes place on the workshop conference call that is at least 45 minutes. If you don't have the time to learn how to generate Free Cash then, I'm not sure what I could say to assist you. I'm sure you've spent hours reading other sites, ebooks, etc. to get information, regardless of it turned out to be of benefit to you or not. One always has to take the time to pursue something that is worthwhile. If you're happy with what you have then cool.

    Best of cash flow to you.
     
  10. Ryan Grant

    Ryan Grant New Member

    jschuman: One thing that finally dawned on me is some people do not want an internet business. They want an internet job

    You are absolutely right. The first step to being successful online or in any business for that matter is to have the correct mindset. If you have a working mindset...Go get a job. If you have a entrepreneurial mindset online business and marketing might be for you. But it all starts with the correct mindset!
     
  11. cybermommy

    cybermommy New Member

    'I don't have any money to start'-
    Then go away,learn learn learn online as much as you can,join forums,ask questions.
    Get a free blogger account,Squidoo etc and learn your craft.
    The money can trickle in from there.
    But I see many people come online and look to make hundreds/thousands a day with no outlay.
    How?
    Would we expect that in the non'cyber' world?
    Like the other posters said,I couldn't afford NOT to start my business.
    If we look to continually come up with varying excuses,how much further are we really getting to where we want to be.
    Sometimes its not about being comfortable and in our safe zone.
     
  12. Homeboy

    Homeboy New Member

    I think the same old adage applies - you simply must spend money to make money as a marketer, there's no real way around it.

    Having said that, the amount of money you need to spend is still peanuts compared to a 'real' businesss, so we have nothing to complain about.
     
  13. BillyPilgrim

    BillyPilgrim New Member

    Beyond buying a how to ebook I didn't spend a dime with my start up. Article marketing is free, submitting to directories is free, Squidoo and blogs are free. The knowledge I paid for in the ebook has paid for itself time and time again.

    BP
     
  14. dmitch31

    dmitch31 New Member

    My advice to you would be "don't get peeved". I mean, can you blame them? Think about it. You're pitching an MLM system to them. Now how many other MLM systems are there out there that you know don't work and they just take advantage of people by trying to get them to make an emotional decision?

    If you're pitching a system to someone, then of course the first question they are going to think of is what does it cost and how much? You would respond the same way.

    If your product or system is legit, and you can show them that average people are indeed making money with the system, then you don't have anything to worry about. People will join if it's a match for them. Does your system offer solid ways to a new person starting out to at least see SOME income within two months? If it does, then you've got yet another selling point.

    If they are committed to doing the work, and you're committed to helping them succeed, then I think you've got all you need. Too many marketers want to just sell the product and then dump off their "customer" to make it work on their own.

    People definitely have reason to be skeptical. You have to tell them that you totally understand their skepticism and then you have to show them why your opportunity is different. And I mean, that is if you really truly do believe that it's different. If you can show them your own results, and honestly tell them what you did to get there, then that's another selling point too.

    Too often marketers are a bit shifty, make the opportunity seem too easy, and don't disclose the real amount of work involved. People are just protecting themselves. If they didn't, they'd get taken by every snake oil salesman that comes along.
     
  15. Newbie Shield

    Newbie Shield Gold Member

    I'm with dmitch. Good points.

    Furthermore, if you have to worry about "overcoming objections" then something is wrong with the approach. There may be something wrong with the training and there may also be something wrong with the business model. At the very least, it will create suspicion and it will repel.

    Overcoming objections tends to be pushy and aggressive. High pressure sales is a notorious and offensive example. I become annoyed and sometimes angry when this tactic is applied to me. My reaction is to let a person know how it is offensive and then walk away. Conversation over.

    Always show that you have a person's best interest in mind. Overcoming objections clearly indicates that you do not have the other person's best interest in mind. It shows that you only have your own best interest in mind.

    I'm not saying that it doesn't work. Unfortunately, it has a good track record. They teach it in business school. They teach it to sales reps on the job. Even so, it's rude, obnoxious and usually intimidating - even when it's subtle. I consider it to be unethical practice.

    If something is of value, you won't have to push it.

    ~Newbie Shield~
     
  16. cybermommy

    cybermommy New Member

    True.
    And also important ,what is that person's reason/why for wanting to get involved in a home business?
    Its not easy,it takes time and dedication.
    And you shouldn't ever attempt to 'convince' your prospect,
    It smacks of desperation to me.
    Do you believe in your product,that it offers a great many things to people out there?
    Believe in your product,your company and inform people about it,but don't push it at people who have no interest or believe it may not be for them.
    You informed,you listened(important!)and if they don't want to take it further ,inform them you will be there if they wish to get back to you when they are ready and move on.
     
  17. freebieallthewa

    freebieallthewa New Member

    I agree, an old saying I always use is

    "When the student is ready the teacher will appear"
     
  18. carrief

    carrief New Member

    my roommate is getting interested in the opportunity i am working on all the time at home... i am not pressuring or even TRYING to recruit him as I live with him and I totally want this to be HIS choice! I think it's cool if he decides to try it. But today I told him one of my goals is to get a certain "incentive" I could acheive, I want to work my butt off to get this (since I want to work my butt off to acheive success anyways, it's always nice to get an incentive too!). He scoffed at $500! I'm not rich yet. $500 is $500! And I'm just starting and he hasn't started yet. I think maybe he has the wrong idea... i am NOT doing a "get rich quick" scheme. I am VERY comfortable with what I am doing BECAUSE it is down to earth and realisitc. You get what you put in! I have a great team and a great plan of action, it's just constantly taking baby steps! Anybody can do it. And I plan on giving it my all.

    NO ONE IS GOING TO GIVE YOU ANYTHING FOR FREE. They are LYING if the promise you this.
     
  19. cybermommy

    cybermommy New Member

    Scoffing at $500 is a reaction of many.
    That is why 'get rich by tonight'schemes floating around remain so popular,people go for the hype and want to believe its true.
    Logic doesn't come into it.
    Do what is right for you,what works for you [​IMG]
     
  20. BillyPilgrim

    BillyPilgrim New Member

    As well, scoffing at the whole idea of MLM is pretty popular. Many people are very turned off at the idea of recruiting. Downline seems to be where the big money in MLM is made and that whole idea rubs me the wrong way.
     

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