I always thought that people spent more money at my shows when they used credit cards. I never really did any study or anything though. Recently I read an article on a British study that examines the psychological reasons why a person might spend more using a credit card.
The report called the “The Realities of Spending” said among other things:
Adding a small amount to an already large credit card bill makes it feel like you did not spend as much.
Thinking about the cost of a purchase while consuming or using it can lower the pleasure gained from the purchase. Credit cards block this by disassociating the payment from the consumption - in other words, you don’t feel the pain of paying for something while using it if you use your credit card.
It is easier to put “things” on our credit cards than experiences because while you are paying off our credit card, you can think of all the enjoyment you are getting from the physical thing you still have, i.e. home decor, kitchen tools, make up, jewelry.
So, any way, the report is extensive and not really definitive anyway. I think in direct sales the message here is that it is important that during your product wrap-up or show closing you tell your guests that we love credit cards for two reasons.
Everyone has heard that expression, yet why is it that we are afraid to ask for what we want? Children are terrific at asking and as a result, end up getting more too. Adults seem to have lost the ability to ask. We come up with excuses not to do so. (I know that I spelled received wrong. I did it on purpose. The phrase is searched frequently and no one is competing on the misspelling except me. It is a SEO ploy) If you are not achieving your business goals, then chances are you are not asking for what you want often enough. Those who succeed hear NO far more often than those that do not succeed! You must ask to hear no and you must ask to hear a yes too. It is all in the numbers.
Good Questions To Ask
Good questions to ask always start with who, why, what, where, when or how. These give you real answers that you can use. The question can not be answered in a simple yes or no.
8 Ways To Generate Business By Asking
Ask For Information-When talking to people keep the focus on them. Share for 10 seconds or less and ask another question. This techinque will give you more information to work with. With the proper conversational technique, you will gather information which will enable you to find something that you have that they need or some way you can assist them. The questions are not all about business, just life. You may say:
I am terrific, how are the kids?
I just got back from vacation in Cancun, where did you go on your last vacation?
I just got my new Spring products, this purse is part of the collection… What do you think of it?
Ask For The Date On The Calendar-So often we beat around the bush when dating shows. Ask questions that give you the answer you are looking for. Examples:
What month were you thinking?
What day of the week is good for you?
Does the 5th or the 1st work better?
Ask For Business- The ABC’s of selling are always be ready to close the deal. That means that you have everything available to “close” and it also means that you ask for it. An interesting statistic is that after a presentation 60% of the sales people never ask for the order. No one will ever say yes unless you ask for the close.Ar
When would you like to do your first show?
When do you think it would be good for you to start your training?
What would have to change to make this the right time?
Ask For Endorsements or Testimonials- Testimonials are powerful. They improve your credibility and leverage you to future successes. The best time to ask is right after you provided excellent service or gone the extra mile.
Would you be willing to write a testimonial for me on your experiences?
I have an audio testimonial hot line. Would you be willing to repeat that as a recorded testimonial?
Ask For Referrals-Referrals are the least expensive way to insure future growth. The key is to ask for them.You good customers will be glad to give referrals. Getting in the habit of asking for referrals will drastically increase your cash flow.
I know that you are not interested in hosting a show… who do you know that would like to take advantage of our host program?
I am looking for sales professionals, I know that this probably isn’t for you and I was wondering who you might know that could use extra income?
Ask For More Sales-How many times have you heard at the store, would you like anything else? Do you ask your customers the same question? Check out the order and see what cross sells well. Offer the opportunity to your guest to by those extras. Also, contacting guests who bought items when future sales are going on is another way to ask for more sales.
I see that you ordered the ZXZ basket, did you know that the liner is separate? Would you like to include that in your order?
Hi Lisa, I see that you ordered the XYZ last year. I was just touching base with you to let you know that the entire collection is on sale next month. Would you be interested in adding to your collection?
Ask For Feedback-Are you meeting the custiomers needs? You will never know if you do not ask. During check out, ask your customers questions that give you feed back. Regular customer service calls should also include questions that give you information about how you are doing.
What did you learn today?
What part of the show did you enjoy most?
What could I have done to improve your show experience?
Ask Through Negotiation-Frequently we hear no and let it go at that. Everything is negotiable. When you rephrase your questions, you frequently get different answers. Network marketers have a tendency to not negotiate. Negotiation is another form of asking that allows you to keep channels open in both directions. The 10 second rule creates a terrific negotiation too. Share for 10 seconds and ask a question. You will always get to the point that you have some form of service that the other can use. I recently performed a live fund-raiser show that was the largest show of the year. The dated show was the result of negotiation through the 10 second rule and asking the right questions. The original NO I do not want to have a show, turned into the largest show of the year when I kept the focus on the customer, used the 10 second rule and asked the right questions.
Business and Marketing Systems
Power UP For Professional Results is a 8 CD set of proven business systems that when applied to your business will result in a consistent cash flow into your home. Buy Marketing Strategy
I am excited to announce that this blog has been nominated for the Blogger’s Choice Award.
Impact Your Cash Flow
My mission is to make a difference in your ability to create a consistent income from home. Has this blog made an impact on your business and cash flow? Do you go to this blog when you need answers or inspiration? Direct Sales / MLM Resources has been nominated for the Blogger’s Choice Award in the category of networking, business and education.
Many Good Blogs
The Blogger’s Choice Award website has many good blogs. Check them out and find some other blogs that you like. Blogging is a terrific way to learn for free. (Just don’t vote for any that are in the same categories as Create a Cash Flow Show categories: business, networking, education) I am always checking out other blogs and learning from other peoples’ experience. It is just one more resource you can use to leverage your business without having to leave the house.
Vote for Blogger’s Choice
If this blog has made an impact on your ability to create cash flow, please comment on and vote for this blog at this link. You will have to log in to vote. It doesn’t cost anything. Make sure you vote in the networking category for sure, because that is the best niche for CACFS. If you want to vote in all the categories, that would be cool too. Thank you for voting for CreateACashFlowShow for the Bloggers Choice of the Year award.
A balanced business is one which utilizes all opportunities available to create business and cash flow.
Why do we want a balanced business?
A balanced business is desirable because it will provide you with a solid business with less chance of bad seasons or events jeopardizing your business and income.
A few reasons we want a balanced business are:
• Multiple streams of income
• Constant cash flow
• Less stress
• Easier to maintain once you get it going
Income opportunities
In direct sales and network marketing generally we have the opportunity to generate income by providing three services. The services are:
Product sales
Hosting shows or events
Opportunity to create income
All other services fall under one of those services. When you eliminate one of your services, such as not sharing the opportunity, you are reducing your income by 1/3. In network marketing or other sales-based businesses, some companies do not do home parties. This is reducing a lead source. Even a company that is not a home party-based referral system can benefit from doing home parties. The realtor, insurance sales rep, or vitamin rep could do a home party or workshop for clubs to generate leads. I went to a home party that was sponsored by a friend. She made light snacks, and invited a financial adviser in to chat. There were 8-10 in attendance and I am sure that at least 2 of the guests started investing with the adviser. They became educated, saw the rep as being an expert and developed a relationship with the adviser and then spent money.
A balanced business will focus on all of the income opportunities: growing a team, (creating income), home parties (free products, creating income) and selling products. All other services fall under those three categories.
Marketing A Balanced Business
A balanced business will take advantage of every form of advertising and marketing available to them. In network marketing frequently individuals have a tendency to focus only on one lead source. Many network marketing professionals rely solely on their shows for generating future business. Others depend entirely on friends and family to create cash flow. Neither of these approaches will work. There is an unlimited supply of leads out there and when you create a balanced business, you take advantage of all of them. My personal favorite approaches to lead generation include:
Power-UP For Professional Results is an 8-CD set that teaches best business practices for sales professionals. A best-business-practice is a system that when applied to any business will give the same results. Professional business practices include balanced business. This study set includes three hours on prospecting, finding business, and filling your calendar. If you do not have enough business, click here. There is no excuse for not having enough business. You too can have a balanced business.
It is easier to put “things” on our credit cards than experiences because while you are paying off our credit card, you can think of all the enjoyment you are getting from the physical thing you still have, i.e. home decor, kitchen tools, make up, jewelry.
