How to Fail in Network Marketing!
How to Fail in Network Marketing!
How to Fail in Network Marketing!
If you are considering opening up a business of any kind, you should do so with your eyes wide open. Many desire the lifestyle of working from home, so naturally, they are attracted to work from home opportunities. Network Marketing opportunities are among the most popular options out there, with very high levels of potential for anyone with some grit determination, and a little start up capital.
But, over 90% of the people who join network marketing companies will fail. And many fail over and over again. Here are some of the reasons. Evaluate your own reasons and expectations for embarking upon a network marketing career. Make the necessary changes to your expectations, apply what you read here, and you will achieve high levels of success in network marketing or any business you decide to build! Here are main reasons why people fail in network marketing:
1. They have no real "Why". If you are starting a business simply to "pay the bills," then forget it, and get a second job! When the "why?" is not strong enough, you will be crushed by the challenges you will face, and end up frustrated and out. And you WILL face challenges! It will not matter if you know how to build your business if you don't first know why.
2. Their company just goes out of business. Before you invest your time and money, make sure you have selected a company that is financially strong. The management must be very experienced; not just in their products, and services, but in the industry as well. Evaluate whether the company has all the necessary infrastructure to handle momentum growth, and has a long-term plan that is beneficial to the distributors.
3. No leadership, support or training is provided. You simply cannot be a lone ranger in this business! Make sure you are working with an upline group that has been successful, has the time to work with you personally, and there is a community with proven training and marketing programs in place that you can use.
4.Their goals are not written or measured. You MUST determine your goals! You MUST have a target to aim for, or you will miss it every time. Write your goals and objectives on a piece of paper, cardboard, white board...somewhere! Post them on the refrigerator or bathroom mirror so you can see them everyday! Be intentional about reading them aloud in the morning and in the evening. Write them in the present tense, and give them a deadline. Make this real! Flesh them out by developing a plan of action, and scheduling daily activities that will take you to your goals.
5. They become a hobbyist, not an entrepreneur. This is a business. In real business you must give your consistent hours every day. In real business, you must make sacrifices to grow it. If you treat this like a hobby (do things whenever you have some spare time), you will get paid like a hobby. In most hobbies, you end up spending money, not making it! If you treat it like a business (plan your work and work your plan daily), you will get paid like its a business! If you simply want something to do, take up bowling, and save yourself a lot of time, energy, frustration, and money.
6. Money, Money, Money! Money is important, but your focus should be on helping others succeed. Zig Ziglar once said that "you can have everything you want, if you just help enough other people get what they want." Go out to make friends and help them become successful and you will also be successful. Attract others to you that want to do the same and your growth with be out of control.
7. Prospecting takes a back seat. Your job is to be a messenger. Take the message about your company, products, service, and opportunity to as many people as is humanly possible each day. Don't worry about those who are not interested. You are just sifting for those who are. If you were to contact just one new person every day (six days a week), you would make 312 new contacts per year. If you just added 10% of those to your team, you would have 31 new partners each year. Imagine the growth of your business, income, confidence, and lifestyle, if they each duplicated only half of what you did.
8. They pass the buck. They blame their upline, the company, the compensation plan, and the products for their failure. This is YOUR business and YOUR responsibility. If you aren't willing to accept that responsibility, then stay at your J-O-B, for a B-O-S-S and whine about him! Your success or failure falls squarely on your shoulders. Successful people look in the mirror and become the person it takes to become successful.
9. Rejection becomes personal. Your business is not for everyone! People are going to tell you NO. Most of the time it's not the right time in their life for what you are offering. You are not being rejected. The opportunity or products just aren't a good fit right now. Don't take it personally, just stay in touch, have a servant attitude, and when the time is right, you will be there.
10. They expect too much too soon. Most people have unrealistic expectations and get too impatient and quit with success just around the corner. This is a business and it takes time to build. If you were building a traditional business, it would take 3 to 5 years before you were actually making any money. In network marketing, you can do this in a matter of months. Be patient and never quit.
These are 10 of the most common reasons people fail in network marketing. Actually, if you review them closely, they are all reasons people fail in life in general - not just in business. Keep your attitude sharp, and your expectations real. Apply these principles to your business practices, and you will most certainly achieve all you dream of and desire from this life. May God bless you as you strive to become all you were created to be.
To your Success!
Jerry Spangler
MeetJerrySpangler.com
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