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4 Steps to Profit in Your Home Business

4 Steps

Hi – This is Rajat here, and today we’re going to be talking about the 4 Steps that you need to follow in order to sign up Customers or Partners in Your Business.


If you’re a new Business Owner or if you’ve been in Business for a while, and are confused by all the steps and the complexity in getting customers, this video is for you.

Your business is like a machine – while it may not be complicated, it DOES have some structure. So in order to have success, you need to do your business in a STRUCTURED fashion.

Remember, in the business world, it’s always the Organized that wins over the Fortunate, the Talented or the Hardworking.

Here is the Basic 4 Steps Sales Funnel that you need to follow in order to get customer or partner sign-ups:

 

  • Build a BIIII..II..IGG List
  • Call & Invite
  • Product Demo / Business Plan (Optional Close)
  • Follow Up & Close

 

1) LIST: ALWAYS start out with a big list… The bigger, the better.

This is the most important of the 4 Steps

  • The money is in the list – Start with a list of hundreds, if not Thousands of people in it
  • List adds to Posture. You don’t care about any 1 person on the list, as you have hundreds of them. This adds to posture and confidence
  • If there are some people you don’t want to contact immediately, and want to keep on the back burner till you have some success behind you, that’s fine. But you MUST keep their names on the list.
  • A List means a WRITTEN list. Anything you don’t have in writing, in ONE place (preferably on paper) is NOT your business list. And NO – the 15 names in your head is NOT a list
  • Use a memory jogger to build out your list. Even if you don’t have their contact details at hand, just write down their names and find their contact details later
  • Write down ALL the numbers in your cell phone and email list. You can strike some off later if they don’t qualify
  • DO NOT Pre-judge people before writing their names or contacting them. This is the NUMBER 1 reason most people fail in their startup or home business. They Pre-Judge before they write the person’s name down

 

2) CALL & INVITE:

This is the most skillful of the 4 Steps

The only goal of this activity is to invite your prospects for a Product Demo or Business Plan – Nothing More, Nothing Less.

If for any reason you feel that they do not have genuine interest, you will drop them here.

 

  • Best done on the phone. Worst case scenario, you may throw it in while saying goodbye (and once you’re already out of the door or in your car)
  • Best done within 30 seconds to 3 minutes. Do not let the conversation drag else the prospect will take you for a ride….and dump you on the road
  • Always sound like you’re in a hurry. Better still – always BE in a hurry while Inviting. Make sure you mention that you’re in a hurry.

There’s hundreds of them to invite, and you want to be rich by Yesterday.

  • Open the call – say Hi
  • Tell them that you’re in a hurry and you can’t talk for long
  • Tell them the purpose of the call – that you’re exploring starting out a business (or “project”) that may involve decent profits – Ask them whether they would be open to looking at something outside of their core job/profession
  • If they say “No” – Drop them
  • If they say “Yes” – Propose 2 time slots (preferably 2 days apart) when you can meet at your place or their place (preferably their place).
  • If they ask questions – remind them that you’re in a hurry and Propose 2 time slots (preferably 2 days apart) when you can meet at your place or their place (preferably their place). Lock down the Date/Time and Location.
  • Assertively mention that you will be on time, but if in case of emergency they cannot make it (or want to change the schedule) they should let you know beforehand so that you can utilize your time best
  • If you feel they are acting difficult on the phone, tell them that maybe this may not be for them, and drop them. Approach later once you have some interim success under your belt.

 

3) PRODUCT DEMO OR BUSINESS PLAN:

The only goal of this activity is to:

  • Provide information about the product or business to the prospect
  • Ask them Power Questions in order to qualify them
  • Try to address the most common objections before they arise
  • Tickle their Emotional triggers while addressing Logical issues with them. [Remember – We are Emotional beings, and most of us buy on Emotion, however we justify our purchases to ourselves based on Logic]
  • Figure out if they are worth setting up a follow up meeting with them. Else go for the Close and move on.
  • If they are suitably opted in, try to Close immediately

 

 

  • You need to have 30-40 minutes of un-interrupted time with the prospect(s) where you have their full attention and are not likely to be disturbed by phone calls, kids, pets, unexpected people joining, etc.

This could be a pre-set time or you could “spring” your prospects if you have a good relationship with them. However you do need to ensure you have their undivided attention for 30-40 mins

  • Show up on time. Dress sharp
  • You should seem as if you’re coming from a business meeting, AND you have another meeting to go to after this. Better still – GENUINELY have a meeting lined up afterwards so that you’re genuinely controlling the meeting
  • Ideal duration for Demo/Business Plan – 40 – 60 minutes
  • If there’s only 1 prospect, keep it tight – the shorter the meeting, the better
  • Do not answer any question directly. Tell them “Thanks, that’s a great question, let me complete the presentation, and if your question has not been answered by then, I’ll address it at that point”
  • Some questions can be answered with counter-questions of your own. If they ask “Is this product Organic?” you may ask them – “What type of product do you prefer to use, especially for children’s daily utilization”

…..Of course they will say they prefer Organic, and you can affirm and carry on.

  • When you’re done with the presentation, outline to them clearly what the possible outcomes you expect (even though some of them may not be successful for you). You could say something like, “Lisa based on this meeting you could be at one of the following points
    • You need more information and also discuss with (your spouse) about this idea/product
    • You have made up your mind and would like to get started right away
    • You are not really interested in pursuing the business, but you wouldn’t mind trying out the product

 

  • Leave some follow-on material and exit, after setting up a follow-up meeting. Lock down the Date/Time and Location, while Assertively mentioning that you will be on time, but if in case of any emergency they cannot make it (or want to change the schedule) they should let you know beforehand so that you can utilize your time best

    4) FOLLOW UP

Of the 4 Steps, this one takes most experience, so Practice this the most

The goal of this activity is to:

  • Collect the material you left with them
  • Walk them through the Value Proposition of the Product/Business again, real quick
  • Tickle their Emotional triggers while addressing Logical issues with them.
  • Tackle Objections before they arise.
  • Ask them Close-Ended Questions – Do not let them deviate.
  • Relay their choices back to them (whether Yes or No) in clear succinct language so that they are clear in their mind what they are choosing.
  • Exit