Four Areas in Prospecting

This article is from Train the Trainer Email Course:
Module 1: Sharelist (Part 3 of 3)

This is the last part of module 1: Sharelist – the raw material of your business.

After learning how to quantify and then qualify, there will come a time in our IMG career that we will run out of prospects.

Have you experienced the same thing?

Running out of prospects means running out of business.

How can you have a business without raw materials?

Four areas of prospecting

Four Areas of Prospecting

However, an effective financial trainer never runs out of raw materials. Why?

Because he/she understands the 4 areas of prospecting.

These are:

1. Natural or Warm Market
2. Friendship Borrowing
3. Friendship Farming
4. Professional Prospecting

1. Natural or Warm Market

This is usually called your KKK. Kaibigan, Kamag-anak, Kapitbahay, Kapamilya, Kapuso, in short Kakilala.

This is naturally the first people you want to share our concepts with.

Ofcourse, with our Mission-Vision, “No Family Left Behind.”

The first people you should share our concepts should be your family.

Possible Outcome: 

1. Positive – if your family is already a believer of saving and investing, they will totally support you. This is what happened to my family, all of them became IMG members and got Kaiser savings and mutual funds.

2. Negative – not because they don’t want to save or invest, but primarily because they want to protect you. By nature we want to protect our loved ones, so when they hear something new, our natural response is:

“Careful ka dyan ha, baka scam yan.”

The same goes to our friends and co-workers. That’s why it is also very important we learn how to handle objections which we will discuss on the 4th module.

2. Friendship Borrowing

An effective financial trainer also never forces people, that’s why when their KKK’s don’t join or buy from them they use the friendship borrowing method.

It means, to borrow friends or ask for referral.

Here are some scripts to use to ask for a referral:

Trainer: “Hey friend, since you are not able yet to join this great opportunity, who do you think among your friends can also benefit from this opportunity?”

“Who do you think needs to earn extra income?”

“Who do you think among your friends wants to learn about saving and investing?”

Remember: Always get the names and phone numbers so you can contact them later on. 

Possible Outcome: 

1. Positive – usually people love to help. That’s why, more often than not, people will gladly give referrals. You just need to learn how to approach them the right way.

2. Negative – some don’t want to give names and numbers. Their usual response would be:

“Ask ko muna friends ko, hindi kasi nila gusto ipinamimigay numbers nila.”

Friendship borrowing is one effective way of adding names to your raw materials. Have you tried this approach yet?

3. Friendship Farming

This 3rd approach is quite a bit advance already. Not everyone can do this but most people who are good at friendship farming are the ladies.

Yes, the ladies.

Imagine going to the bank. They are serving number 50 and your priority number is still 42. So you sit beside the other bank clients. And then using some creativity, you create conversation with the person you are sitting besides with like:

“Ang tagal, kanina ka pa dito?”
“Ang cute naman ng baby mo, how old na siya?”

And once the conversation started, you can then get to know the person using the FORM method – family, occupation, recreation and message. (Which we will discuss later on Module 2: approach)

Friendship farming is basically turning strangers into friends

However, when doing friendship farming, it is best you not to discuss your opportunity in detailed yet. Get their number and call them for an appointment. Remember: you just met them. Build relationship first.

4. Professional Prospecting

This one should be the last resort. Professional prospecting involves tapping into the cold market – people who don’t know you and you don’t know them.

This involves, flyering, posting in social media, blogging or online marketing, conducting talks in companies, using Facebook ads, doing video blogging and more.

Possible Outcome:

The percentage of this activity is so small, it’s quite difficult to do it. However, when done correctly, one can tap into an unlimited supply of raw materials.

BONUS: Here’s a video training on module 1 – Sharelist and Prospecting.

That’s it for Module 1!

To summarize:

1. Quantify first – write 100 names using the Executive memory jogger
2. Qualify – using the MACHODA
3. Then tap unlimited supply of raw materials using the 4 areas of prospecting.

In Module 2, we will learn how to approach our prospects the right way.

The people in our sharelist will not come to us and magically approach us to join or buy from us, we need to process them – or approach them the right way.

See you on my next email!


Invest in your growth,

Tiyo Pilo

PS: Again, watch here one of my advance video training on sharelist and prospecting.