Handling The Pyramid Objection
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Many people get stumbled when they are asked this horrible question, “Is this a pyramid scheme” or “Is this one of those pyramid selling structures?”
When someone asks you this question, you must not fumble or stutter… in fact, you must be very happy that they ask this question because it shows genuine interest on the part of the prospect because better to have a passionate, negative prospect than a lukewarm person. A passionate, negative person can be turned into a passionate positive person who will go all out for your team, but only if you handle the pyramid objection intelligently.
Firstly, a pyramid scheme is often confused with network marketing or multi level marketing. People feel that the guy who starts FIRST is often the one who gets all the money while the downlines do all the work. Others would associate the MLM company as being illegal.
You see, MLM generally pays over a multi-tier compensation structure and you can earn money up to many levels deep. However, it doesn’t mean that the person on ‘top’ will generally earn more money than the downline.
Let’s take Amway for example. If you want to ‘Go Diamond’ you will need to build up 6 teams.
But if you want to go Double Diamond, you need to personally build up 9-12 teams (as an example). So if you build 6 teams only but your DOWNLINE, builds 9-12 teams, does it makes sense that your downline should earn more money than you? Sure your downline is part of your team and he is helping to expand your group, but since he put in more hard work in personally building a team, it makes sense that the downline Double Diamond earns DOUBLE of what you should make even though you are on top!
Next, if you consider that network marketing is a business about helping people, you can’t try and sponsor as ‘wide’ as possible (e.g. personally sponsoring 20 yourself) but you don’t help any of them succeed. You are no longer building a network but you are creating a recruiting job for yourself! And if they don’t succeed, you can bet your next commissions check that you will be sponsoring people over and over again for the next few years.
Most compensation plans pay you well only when your downlines succeed. Hopefully you are prepared to HELP your people.
So in order to handle the objection, consider that – network marketing is a LEGAL network building business that MOVES PRODUCTS through many levels and the one who works the hardest will get paid the most (contrary to a corporate pyramid where the CEO might not necessarily work the hardest compared to the clerk, but the CEO gets paid the most nevertheless).
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As always great feedback guys, and thanks so much for contributing! But one question.. Cheri, are you pitching your biz in the comments?? LOL
Great post Tracey. Another way to handle this is to find out WHY that person is asking “Is this a pyramid scheme?” Often times it is not the “pyramid structure” that is the issue.
It could be something like their Uncle Jim tried Network Marketing 5 years ago, had no training or support, spent money foolishly, “lost” that money and proclaims “Network Marketing is nothing more than a pyramid & none of those pyramid things work!!”.
A simple reply such as “Mmmmm, do you mind sharing with me why that’s important to you?” could reveal what the true issue is(Uncle Jim’s proclamation and not wanting to “lose money”) .
It’s just human nature. Our first question is not always the REAL question.
Also, the less we explain and the more the prospect can reveal, the better. The more WE explain, the more objections WE give them.
Just another way to approach it
As always, thanks for all of your great info
Great points and comments! In addition, with my business, I say, “how can travel be a scheme, everyone does it”? Whether to visit family, travel on business, or go on vacation, everyone travels. So why not be a part of my team and take a percentage of the $1.3 million spent EVERY DAY on travel. BaronCarterTravel.Biz and BaronCarterTravel.com
lol… this post is great! I was actually thinking about doing a post similar to this. Everything is what they refer to as a “pyramid scheme” just look at business, organizations, religion, family!
there is always someone at the top! But I agree that in network marketing it is who works the hardest because they can create more BV then their upline if they work harder!
Rich Devos is awesome! I got a chance to meet him in Grand Rapids which is where I’m originally from and he is a genius!
Thanks for the great post! looking forward to more!
Great writing Tracey. I enjoyed reading this article.
Perfect! The pyramid objection is a legndary one.
Answering it at least puts detractors at bay, while
helping those who needed the answer get satisfaction.
This goes a long way towards bringing that prospect into your business.
This person could be a leader who builds a major portion of your downline. If they make more, so what?
By introducing the business to them, you’ll benefit greatly.
The starters AND reserves all get championship rings when the team wins.
Great content, Tracey! You’ve done it again!