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MLM Woman Online Issue 42
This free monthly newsletter is made possible by our advertisers and customers. We thank them for their support!
From the Desk of the Editor
Welcome to the 42th issue of the MLM Woman Newsletter. This month we feature articles on:
Enjoy!
Linda Locke, Editor MLM Woman
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How to Use "The Big Benefit" to Increase Your Sales and Profits By Bob Leduc Copyright 2000. All rights reserved.
People buy products or services from you because they expect to gain a benefit. The benefit is more valuable to them than the money they spend to get it. You can use that benefit 3 different ways to increase the results produced by your marketing efforts.
1. Immediately state the benefit to draw the prospect into your promotional message.
2. Dramatize the feeling of enjoying the benefit to intensify your prospect's interest.
3. Stimulate your prospect to start enjoying the benefit NOW by taking immediate action to get it.
Apply all 3 of these when you develop any promotional material -- including the content of your website.
1. STATE THE BENEFIT IMMEDIATELY
...to draw the prospect into your promotional message. State the benefit in the headline of your ad, the first sentence of your sales letter or in a title at the top of your webpage. Use it as the opening of your audio or audio-video promotions. It immediately captures your prospect's attention and provides a compelling reason to continue reading or listening.
For example, I recently saw this headline at the top of a webpage: "Increase Your Online Profits 40% Now". The website offered businesses the service of accepting credit card payments online.
2. DRAMATIZE THE FEELING OF ENJOYING THE BENEFIT
To intensify your prospect's interest. Use a word picture to help your prospect visualize the feeling of enjoying the benefit you offer. Here are 3 examples you can use as models for developing your own word picture: "Know all your bills are paid as you and your family leave on a 2 week vacation." (a financial planner).
"The pleasing aroma of this new shampoo reminds you of driving through the country after a fresh spring rain." (shampoo offered by an MLM distributor).
"It's Monday morning. As you get up, all your neighbors are already on the freeway trying to get to work on time. You have breakfast with your family and decide how to spend the day while your customers place their orders at your new automated website." (An Internet business opportunity)
3. STIMULATE YOUR PROSPECT TO START ENJOYING THE BENEFIT NOW
...by taking immediate action to get it. Three of the ways you can persuade immediate action are:
** Make an offer with a short time deadline. (discount, bonus, etc.)
** Provide several easy, fast ways to buy. The more the better. (online, phone, fax, etc.)
** Guarantee fast delivery. This is easy if you can deliver your product or service online. Otherwise, offer to ship your product immediately or start providing the service immediately after your customer orders it.
IS IT A BENEFIT?
Be sure you're promoting the biggest benefit your customers get from your product or service -- not a feature of it. A feature is what your product or service is. A benefit is what your product or service does for your customers.
For example, an anti-virus software program may include weekly online updates. That's a feature. The benefit is -- a new computer virus will never destroy any data on my computer. That's the result a buyer wants. People never buy something to get a feature.
They always buy to get the benefit produced by the feature.
WORKS FOR A SMALL AD TOO
Including all 3 methods of promoting a benefit in a small ad can be challenging because of the limited space available. Here's an example of how one business did it with only 18 words.
"Take more profit from your business and enjoy less stress! Find out how - before your competition does."
Customers buy your product or service to gain the benefit it offers. Determine what that benefit is. Then use it 3 different ways in all your marketing materials and promotions. You'll be surprised by how it increases your sales and profits.
About the Author
Bob Leduc retired from a 30 year career of recruiting sales personnel and developing sales leads. He is now a Sales Consultant. Bob recently wrote a manual for small business owners titled "How to Build Your Small Business Fast With Simple Postcards" and several other publications to help small businesses grow and prosper. For more information... Email: BobLeduc@aol.com Subject: "Postcards". Phone: (702) 658-1707 (After 10 AM Pacific time) Or write: Bob Leduc, PO Box 33628, Las Vegas, NV 89133
Six Tips for Fast and Easy Stress Management By Kevin L. Polk, Ph.D. Copyright 2000. All Rights Reserved
Stress Tip 1: Pay attention to your own thoughts. Ever heard the saying, "Sticks and stones will break my bones, but words will never hurt me?" It's a lie. Words hurt (they stress you out). That goes for words you think to yourself as well. "The power of positive thinking" may be a cliché these days, but it's still true. Think positive thoughts and you feel less stressed and get more done. It's the most powerful stress management you can do.
Stress Tip 2: Choose a couple of things you really want to get done, and get them done early in the day. You will feel a sense of accomplishment about using your time wisely. That leads to less stress. You can then choose another couple of things to do if you have time. The trick is to not overload the day with things to do, but still get stuff done.
Stress Tip 3: Look at your day as 24-hours instead of 8 or 12 or whatever. 24-hours is all that you've got. So if you "add" something to your day you will have to "subtract" something else from your day for good stress management. In the U.S. we tend to add without subtracting. That leads to a lot of stress.
Stress Tip 4: Be assertive with people about your time. While time is our most precious resource, most of us tend to give it away too easily and that's poor stress management. When someone asks you for time, think about what you will have to "subtract" from your current schedule. That will help you say "No" when you need to. "No" can be a great stress management tool.
Stress Tip 5: Have a dream and goals to reach that dream. Sounds like another cliché, but stress management is a lot easier when you have a dream and know what you want to do to get there. (This does not mean go overboard and spend every waking moment on obtaining the dream.) In the long run you will have less stress if you have a dream. It's sort of automatic stress management.
Stress Tip 6: Limit the number of shocking things you watch on television. I know that's tough in our TV centered world, but shocking pictures stress you a lot more than you think. The images go straight from you eyes to your feelings. If you feel yourself getting stressed by the television, consider listening to the radio. Radio allows you think about the information and form images you can deal with.
Stress management has a lot to do with controlling what you see and hear, so choose wisely.
FREE course in Creative Problem Solving at http://www.timedoctor.com or send any email message to timedoctor@GetResponse.com Dr. Polk is a Licensed Psychologist who specializes in stress reduction.
Sacrifice By Lisa M. Wilber
Sacrifice is a part of every new business -- at least every successful new business. The new business owner must sacrifice his or her own personal time, money and creature comforts in order to get the business off the ground and heading toward success. How long and to what extent will you have to sacrifice to make your goals and dreams a reality? I suppose that would depend on how big your goals and dreams are!
Personally, my dreams are B I G -- and getting bigger. My initial goal of "Million dollars in assets by age 40" seems small compared to the possibilities I see for myself now. And not just in physical possessions -- but in every aspect of my dreams. How much money I can earn in a year, where I will travel, who I will meet, what I will learn. When I began to believe in myself and believe that anything is possible, it opened up my horizons in a way that wasn't possible before.
As my horizons opened, so did my creativity and ability to overcome the hurdles towards those dreams. But today, like so many of you reading this; I am struggling and sacrificing in order to secure my future income and lifestyle. Yes, I know sometimes I take it to extremes -- but that is how deeply I feel the passion of my dreams.
The company I represent is sending me my downline earnings check this Friday for over $9,200.00 -- and that's for two weeks! Yet, as my husband and I sat huddled in front of our 10 year old air conditioner over the weekend -- the heat during the summer in our 12' x 72' trailer can be compared to a tin can in an open field -- I couldn't be happier.
I no longer spend time waiting each month for the electric man -- waiting to catch him with my cash payment so that he will not shut my electric service off again. I no longer dread hearing the phone ring -- knowing that no bills collectors will be calling.
We have food in the refrigerator, gas in our vehicles and for the first time in 14 years -- medical insurance! Yet -- we make sure to be as frugal as possible, spending the majority of the income from my downline back into the business to insure that our past won't repeat itself.
We laughed as we sat in front of the air conditioner -- because every few minutes I had to get up and thump the side of the 20 year old TV. A button is broken in the control panel, but the TV still works when you hold the button down -- so my husband came up with a solution -- he propped a plastic container against the button and held that in place with a rubber boot against the cable conversion box. Voila! No need to purchase a new TV!
We now enjoy this kind of sacrifice. It's like a badge of honor we wear knowing that our future will be secure -- knowing that we are happy and have all that we truly need today and are saving and investing for those great adventures of tomorrow.
Have you read the book "The Millionaire Next Door"?
I rest my case.
Lisa Wilber has been involved in Multi-level marketing since 1993 and made it to the top of the pay plan with Avon Products, Inc. within 15 months of joining the program. She has earned 12 Avon National Honors trips and is currently ranked # 6 in the country for Avon's MLM program entitled "Leadership". She is the author of two books - "Marketing Ideas for the Wild at Heart" and "Support, Support, Support: the three most important things about multi-level marketing". Her first audio cassette program is due out in July, 2000. To reach Lisa, visit her web site at www.winnerinyou.com or call her at 1-800-258-1815.
Eight Sources of Power in a Sales Negotiation By Kevin Davis Author, Getting Into Your Customer's Head
Negotiating power plays a major role in every type of negotiation, whether it's a labor negotiation, political negotiation, or a buy-sell negotiation. Both the buyer and the seller have power in a negotiation. Power is each side's perception of its strength or weakness in comparison to the other.
This perception of power affects the ability of each party to achieve its own goals, and the more negotiating power you have in comparison to that of your buyer, the fewer concessions you'll have to make.
For each party in a negotiation, there are eight sources of power. These are need, options, time, relationships, investment, credibility, knowledge, and skills. To remember the eight sources of power just remember the acronym NO TRICKS.
N stands for need. The essential question here is: who needs this sale more, the buyer or the Seller? The more intense the buyer's need, the more power the Seller has. The more intense your need to make the sale, the more power your buyer will have.
The "O" in no tricks stands for options. What are the options for each party if an agreement is not reached?
A buyer who believes that your product or service is unique has no other options. Your other options consist of the other sales opportunities you have waiting in the wings. The more options you have, and the fewer acceptable options your buyer has, the greater your negotiating power.
T stands for time, which refers to any impending events that place a deadline on either the buyer or the seller. If the buyer is under time pressure, it usually gives the salesperson negotiating strength.
In commercial real estate, for example, the expiration of an old lease may put time pressure on the tenant to find new office space. The time factor also affects many other purchases related to the move, such as hiring a contractor, selecting office furnishings and business equipment, and so on. A deadline creates time pressure and limits the buyer's opportunity to shop around.
If you are feeling time pressure, perhaps to close the sale by the end of a quota period, your buyer will have time power. Several years ago, I had the opportunity to win my company's annual incentive vacation - a trip to Bermuda. On the last day of the year, I needed a $2,000 sale to achieve my annual quota of $3 million. Needless to say, I felt time pressure! I made hefty concessions that day, but I won the trip.
"R" in NO TRICKS stands for relationship power. How strong is your relationship with your prospect? If you have a high quantity of high quality relationships with your customer you have relationship power. But some customers may not allow you to develop these relationships. They may tell you that you can only talk to purchasing. Obviously, in such a situation, you'll have a hard time developing relationship power.
"I" in NO TRICKS stands for investment. How much time and energy has been invested in the buying process? The more effort someone invests, the more committed he or she will be to reaching an agreement. The more energy your buyer puts into a buying process, the more negotiating power you'll have. Conversely, the buyer's power of investment is enhanced when you've put a lot of time and energy into a prospective sale. If you put 20 hours into preparing a proposal, you'll have a hard time walking away from the deal.
"C" stands for credibility. When I was selling dictating machines for Lanier Business Products, a salesperson in our Washington D.C. office sold a portable dictating machine directly to President Carter in the Oval Office. Subsequent photographs of the president showed his dictating machine on his desk. Having the president as a customer enhanced Lanier's credibility. If President Carter had chosen to use his credibility power to get a better price, he certainly could have done so. However, the president had a few other things on his mind than the three hundred dollar purchase price.
"K" in no tricks stands for knowledge. Knowledge is power. You have knowledge power when you thoroughly understand your customers' problems and needs and can foresee how the products or services you are offering will help them achieve those needs.
Conversely, if your customers know as much as you do, or perhaps more, about the application of a particular sales solution, they're less reliant on you. A few years ago, IBM reorganized its sales forced to emphasize industry-specific expertise so that their sales-people would become more knowledgeable about their customers' businesses. IBM has 14 industry sales teams dedicated to areas such as healthcare, travel, and financial services. IBM recognizes that salespeople are not adding value to the buy-sell relationship unless they know more than the buyers do.
Finally, the "S" in NO TRICKS stands for skill. Who is the most skillful negotiator?
Buyers are making more buying decisions today, and are getting better at it. Many buyers have attended seminars to improve their negotiating skills, which means they're gaining more skill power. Today, you must constantly improve your skills, just to keep up.
How to Get More Negotiating Power
N - power. For more Need power, uncover more important needs. Think of a prospect you're currently working with, and the problem they have that you can solve. If your prospect decides to do nothing, how much will it cost them? If the cost is significant, you have Need power. If it isn't, you don't. And if you don't know what it will cost them, you didn't uncover a need. Can you get back in there and find out the answer?
For more Options power, you want to influence your prospect's buying criteria early in a sales process. Strive to make the strengths of your offering important to your buyer before the "shopping" phase.
Find out if Time is a factor in the negotiation.
For more Investment power, get your prospect more involved in the decision-making process. Instead of giving them a brochure of your product, take them to one of your installations and show it to them in action. The more energy your prospect invests, the more committed they'll be to reaching a decision - and the more investment power you'll have.
For more credibility power, get testimonial letters from your biggest customers. Ask your best customers what they have found unique about your product and the results they've achieved. You might be surprised with what they tell you!
For more knowledge power, ask more questions throughout the sales process so you learn more about your customers' needs. To test the validity of the information, have more than one source of information from inside your customer's business. Then, if a purchasing agent tries to pull the wool over your eyes with misinformation, you'll be ready.
For more skill power, become a student of negotiations. Ask the best negotiator you know how he or she does it. Buy a book or tape program. Attend a seminar. You too can be a great negotiator, but it won't happen by accident. In sales, when you sharpen your skills, you make more money.
Kevin Davis is president of Kevin Davis Selling Systems LLC, and provides sales and sales management training programs to corporations. He is the author of the award-winning book and audiobook, "Getting Into Your Customer's Head". Available at Kevin's website http://www.customershead.com and at Amazon.com. FREE Report - "15 Biggest Mistakes Salespeople Make" http://www.customershead.com/resources/article.html. Kevin can be reached at (888) 545-SELL or (925) 831-0922 Kevin@CustomersHead.com
Advice from A-Z
Husband Procrastinates Joining His Wife's Firm By Azriela Jaffe, copyright 2000
Most couple-owned businesses do not start with both the husband and wife at the helm of the business from its inception. The majority of families rely on at least one spouse bringing in a steady paycheck and benefits until the fledgling business becomes profitable.
A couple-owned business started by one spouse usually fits in to one of four models:
In the first model, the second spouse works a day job and funds the venture or pays for household expenses while the business is launched. The second spouse is actively involved in the business, part-time. The business is couple-owned from the beginning; it just doesn't have the full-time devotion of both spouses until the business is profitable or the couple is ready for the risk.
In the second model, one spouse starts the business, not planning to include his or her spouse in the business. Then, the business grows much faster than expected and the spouse needs help. His or her spouse has the skills needed and the concept of a couple-owned business dawns as a solution. The invitation to join the business could be met with great eagerness, some hesitation, or a flat out "no way, find yourself another partner."
In the third model, one spouse starts the business with no intention of employing or partnering his or her spouse. Then, the second spouse either loses or despises his or her current job, becomes disabled, retired, or otherwise available to the spouse. This time, the idea for joining the business comes from the second spouse. Now, it's the business owners' turn to meet the idea with great eagerness, some hesitation, or a flat out "no way, go find yourself another job."
In the fourth model, a husband and wife like the idea of working for themselves and of creatively combining their talents for a greater good. They don't like the idea of jeopardizing their marriage by taking two independent, headstrong individuals and trying to share power and control. They become business partners but they structure the business to be more like two separate businesses underneath one large umbrella. They are partners in business, but solo entrepreneurs as well.
Each of these models has advantages and challenges, depending on the relationship between the couple and the type of business, and the family's financial circumstances.
A woman in the second model writes to me for advice: "I have owned my own business for about 3 years and am getting ready to grow it. I am getting an outside office, hiring more staff, etc. Ironically, I am doing this because I want to work less, not more. I feel if I can outsource a lot of what I do, I can be more of a "project owner/manager" and guide the work more than actually doing the work. My sister and a close friend of hers are my employees now and that is very helpful.
"My issue is an 'our issue': I would really like my husband to join me in my business. I think it would be fun and less stressful for me and our family. I know he would be very good at it. We have complimentary work styles.
"My husband is interested, but two things are holding him back: 1) He likes his job (although he sees himself seriously burning out in the long run there) and 2) Fear! He needs the security of a 'job'. I can't convince him that working for a corporation is risky, too.
"I asked him to take a 4 month leave of absence from his job to try it out. He is thinking about it. I do not want to talk him into doing something he doesn't want to do. I want him to make a sound, healthy decision and not agonize over it. Do you have any advice?"
I detect some negative judgment on your part for his genuine concerns. He's probably picking up on that and becoming defensive. Of course employment is risky. But joining you in business is much riskier - to your relationship and your bank account. You think it will be fun, and it might be, but you'll have your share of fights as well, and it will be hard on your bank account until you grow your business to compensate for his lost salary.
Also, this is YOUR business. It might be difficult for your husband to imagine working for his wife. Although he'd probably be considered your partner eventually, it will feel like it is your business for quite awhile. This transition must be skillfully managed.
Stop trying to convince your husband that his security needs won't be met through paid employment. For him, they are. Some people are strongly rooted in paid employment as a lifestyle despite its stresses and risks; others prefer the "freedom" and risks of self-employment. Neither is right or wrong -- just different kinds of stress and insecurity.
Entering into a working relationship with such fear could poison your relationship and be a deterrent to a successful partnership. If your husband's fears aren't satisfactorily addressed, he's apt to become more controlling in the business, as he attempts to get his security needs met by growing the business the way he thinks it should be done. Develop a next step that is less threatening to your husband. Assign him a project and test how it feels to be working together. Can he reduce his hours at work, rather than taking a complete leave of absence? Or, can he find paid part-time work somewhere to mitigate his concerns of jumping full time into self-employment?
I'd ease into a partnership more slowly until your business is bringing in enough income to calm your husband's fears, or until he is really ready to quit his job. Invite and encourage him to join you at his pace.
About the Author:
Azriela Jaffe is a syndicated columnist and author of the new book "Starting from No: Ten Strategies to Overcome Your Fear of Rejection and Succeed in Business" and several other self-help books. She welcomes reader response and questions to PO Box 209, Bausman, PA 17504 or az@azriela.com. For free online newsletters for entrepreneurs, visit her Anchored Dreams website at: http://www.isquare.com/crlink.htm
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