The best thing about this approach is that you won’t alienate any of your friends or family members! One of the most common mistakes I see made in network marketing is what I call the “vomit approach”. A new network marketer learns about their company and products and then excitedly vomits that information on friends and family. This not only confuses the prospect, but the hype turns them off. Soon they are avoiding the new network marketer. The better approach is to ask questions and find pain areas. Then present the appropriate information. The results are always much better. Unfortunately, most people like to talk more than listen.
The F.O.R.M. Prospecting Formula: Ask More, Talk Less
To help you learn to ask more questions, I’m going to give you a simple acronym – F.O.R.M.
F — Family: Uncover Time and Lifestyle Pain Points
Ask your prospect about his/her family. Talk about the kids. Discuss family goals. Ask if he/she has as much time with the family as they would like. Talk about vacations, their home, vehicles, college, etc. If they mention that they haven’t had a vacation in a long time, that they work long hours and don’t get to spend time with the family or that they don’t know where the money will come from for college, then you’ve got a pain area.
O — Occupation: Identify Job Insecurity and Income Concerns
Ask about their job or business – how is it going? Any downsizing going on? Merger or buyout possibilities? Long-term viability of their job? Making as much money as they would like? If they show some doubt about their job or make comment about the lack of money or the amount of stress, then you’ve got a pain area.
R — Recreation: Find Pain Around Time and Freedom
Ask about vacations, hobbies, golf, boating, bowling, etc. If your prospect complains about lack of vacation time at work, lack of money to take a vacation or lack of time to really enjoy any outside activities, then you’ve got a good pain area.
M — Money: Surface Retirement and Financial Security Worries
Talk about the insecurity of the economy and social security. Ask what they are doing to prepare for future retirement. Ask about investments. Ask what they do with spare money each month. If they complain about not enough money or concern over their ability to retire some day, then you have a pain area.
How to Use F.O.R.M. to Close More Prospects
F.O.R.M. makes it easy to remember, but you don’t have to ask questions in order. To see how this plays out in a real conversation, check out FORM method prospecting in practice.
You may find yourself flipping around. My suggestion, the first few times, is to write a series of questions and talk with people on the phone. That way you have a good start and if you get stuck, you can refer to the list.
By asking questions, you uncover needs and wants.
Then you can go back to the prospect and say something like: “Mary, we were talking the other day and you mentioned (quickly review the pain areas) and I felt bad for you. I don’t know if you’d be interested or if this is even right for you, but I just might have a solution and shame on me if I don’t let you know about it. I’ve found a unique home based business that has great income potential, offers excellent tax benefits, and provides the opportunity for you to have more free time. In your case it could help with each of the areas you mentioned. Would you be interested in taking a look?” Most will say “yes” and then you can present your business as a solution to their issues. This will dramatically increase your close ratios and once they’ve joined, you’ll be able to help them build a business that will eliminate those pain areas.
The best thing about this approach is that you won’t alienate any of your friends or family members.