I just got off the phone with a leader in the home business industry and we had a pretty amazing conversation.
(Although it didn’t go anywhere near how he would have planned it to go…)
His intention was to pretty much “sell” me on his opportunity.
I followed Tim Sale’s Inviting Formula that my entire team uses (Tim & I work together) and this is what happened..
First, I listened…
I listened whole-heartedly to what he had to tell me. He was passionate, that was for sure.
He spoke mostly about the comp plan and thenthrew in a little-itty-bitty bit (as my 3 year old likes to say) about the products…
He asked if I was ready to sign up.
My response, “No”.
He said, “Why…this is too great to pass up.
You’ll make a killing…”
My response, “Do you really want to know? Because I don’t want to seem like I’m disparaging your company. If your passionate about this, then go with it…”
“I really want to know….”, was his response.
“Okay. I’m just going to give you the facts at what I look at, as a leader in the industry, when checking out companies. This is what led me to where I am now…
First, the Terms and Conditions. I’m browsing through them now. Have you read them?”
“No”, he said with a little crackle in his voice.
“Okay. Well, your company has a number of clauses in here that I would run from. First, there’s several clauses that would allow them to terminate you and take your business.” I responded.
“They’d never do that…”, he said.
“Then they don’t need it in the Terms and Conditions. This is a legally binding contract between you and them. If they have no intention of ever doing it, they wouldn’t have put it in there.” was my response.
“Next, let’s talk about your comp plan. I know you are very excited about it, but there’s an entire paragraph in these Terms and Conditions dedicated to the company’s right to change it, at anytime for any reason.
So, what you think you are making today or building for tomorrow can change at any moment.
If you think that can’t happen,
I’ll tell you it can, I lost $50K a month when my last company changed their comp plan….
So, no matter how excited you are about your comp plan now, just know it’s like standing up in a canoe…it’s unstable.”
I then went on to detail some of other clauses that enabled the company to turn their MLM company into a retail company, taking all the customers with them.
And finally, went on to detail the clauses about not doing any other business…ever.
“I never even thought to consider what was in the Terms and Conditions…” was his response.
(Shocking, because he’s done very well for himself in several companies).
“I understand. Most people don’t. They get excited, like the products, love the pitch and forget to look at the contract. Dollar signs can be blinding…
But in business, the contract is the foundation of everything you are building…it’s the first thing anyone should look at…
Do you want me to give you my insights into the products and their viability in the market or the executive management?”
“No, I think I’ve heard enough…” he responded.
“I hope I didn’t upset you, that’s why I always ask if people really want to know…” I said.
“No, I’m actually glad you opened my eyes to it…how is your company different?”
“That my friend, is the million-dollar question…”
And that’s when I sent him to see for himself.
I don’t pitch people.
I don’t sell people.
I don’t do “one on ones”
I don’t do home meetings…
I just show and enroll. It’s up to everyone to make their own decision, just like it was when Microsoft stock first hit the block.
The moral of this story is to always look at the Terms and Conditions. Don’t blindly sign or click your rights away.
You can earn a fortune in this amazing industry, but it’s up to you as the business owner to choose wisely and protect your interests so you can build a solid business, confidently without any reservation.
PS: If you haven’t read your company’s Terms and Conditions, now would be a great time to do so.