MLM means multi-level marketing or network marketing.
Let me define what’s a Hot List.
Every new networker that joins the MLM company brings with him a Hot List. This is a list of people in his life that knows him and trusts him with their life. Because of his close relationship with them, all he has to do is say, “I’ve joined in this MLM company. You should join too! We’ll be rich!” And some of these close people will join.
These are family members, best friends, and people who admire him.
But soon, the person’s Hot List is depleted.
He has talked to everyone close to him. They either joined him or rejected him. What does he do now?
Wrong Move: Sell to the Cold List
He now tries to sell or recruit to his Cold List. The Cold List is a bunch of people that he doesn’t know or trust him. They’re officemates in other department he hardly meets. They’re neighbors he sees once a year. They’re far-off cousins. Goodness, they’re strangers in the street and seatmates in the bus.
His opening lines to his Cold List: “Hi, I know you don’t know me but I just joined this Network Marketing company. I think you should join too! We’ll be rich!”
Obviously, his rejection rate skyrockets.