Prior to Network Marketing I was a top originating mortgage consultant in the US and was ranked in the top 100 of all originators accross the country. At the height of the market, I was personally closing 450 loans a year which is approximately 37 loans a month. Looking back at my success in the mortgage business Mimi and I have applied many of the principles to building our network marketing business. The key to success is filling the prospecting funnel.
In the mortgage business we had huge filing cabinets where we would take people we prequalifed and file their loan application in a filing cabinet. I had two big filing cabinets. One cabinet was for people that I prequalified that had an excepted sales contract and were in escrow to buy a home with closing date. Also in this cabinet were people that were qualified for a loan and doing a refinance.
In the other drawer, were people that I prequalifed for a loan and for whatever reason were not ready to close on a home or move forward with refinance.
If I were closing on average of 37 loans a month I needed to do far more pre-qualifications than 37 to close 37 loans. In fact, I would have up to 100 to 150 people at any given time that I talked to, took a loan application, and pre-approved for a mortgage that were in my prequal drawer. Success was all about having a full sales pipeline. I was doing more loans in our office because I had more prequals in my drawer.
Success in network marketing is NO different. What does your prospecting pipeline look like? Every time you talk to someone about the products and opportunity we have to offer you are filling your prospecting funnel. The more people you put in the funnel the more people that will come out the other end as a product consumer and or business builder.
Just becasue someone tells you NO today does not mean they are a NO forever. They are sitting in your prospecting drawer waiting to be closed at a later date. I can’t tell you how many people that have told us NO that have later said YES! The reason they eventually said YES is becasue we prospected them and they were sitting in our prospecting drawer.
This business is all about timing for people but unless you fill your prospecting funnel you will NEVER have an ongoing amount of people enrolling into your business that you personally enroll.
Below are ways to fill your prospecting funnel:
- Warm Market / Belly-to-Belly
- Referrals
- Challenge Parties
- Booths and Trade Shows
- Company Apparel: T-Shirts, Hats, Cycling Jersey and Shorts, Socks, etc. so people will ask you “What is it that you do?”
- Three Foot Rule – Listen to people around you and fill a need.
- Internet – Website, Social Media (Facebook, Twitter)
- Business Cards
- Craigslist
- Toastmaters or Leads Group
- Meetup Group
Bottom line put on your Nike and “just do it!” Get out there and talk to people and fill up your pipeline drawer.
Tags: prospecting, training
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carrie kaiser
