subject: Could You Be One Of The Majority Of Business Owners Who Fail In Network Marketing? | Network Marketing Success Tip [print this page] Could You Be One Of The Majority Of Business Owners Who Fail In Network Marketing? | Network Marketing Success Tip
MLM has always been a business of volumes. The more sales you make, the more success you can achieve. From that statement alone, you can tell that the minority who are successful are actually making more sales than the majority who fail.
That may tell you a lot about the 97% who do not find success. Either:
1. They are not trying hard enough to sell
OR
2. They are trying to sell to the wrong crowd.
So many people in this industry begin by targeting everyone within 3 feet.
Doing business this way clearly has the potential to lead to disappointment.
Why don't you try selling meat to a group of individuals chosen at random.......oh, and ensure 90% of the people are vegetarian. Given that most people would trust the butchers, you task does not become any easier. I hope you get the picture.
This not only leads to frustration and unsuccessful sales, but it can lead to a psychological block that stops you from even attempting to market, for fear of being judged and ridicule.
Others buy leads. The question of course is, just how targeted are these leads, and do they know about you? Why would they take out their credit cards and buy from you?
Other network marketers find this a time-saving endeavour, but personally, I would never buy home based business leads.
Just because the lead company you buy those leads from assures you they are targeted doesn't give you assurance that you will be able to make sales from the leads.
If you are selling in your Home Based Business Opportunity, it pays to sell to highly targeted leads. The most targeted leads you can own are leads you produce yourself; leads you know who are interested in what you have to sell.
The moment you obtain the knowledge to produce your own leads, you shift nearer to the minority of Home Business owners who find success in their home based businesses.
Another cause a very large proportion of home based business owners fail in Network Marketing is because the business is a liability for most entrepreneurs. According to Robert Kiyosaki, author of Rich Dad, Poor Dad, an asset is something that puts cash in your pocket and a liability is something that takes cash from your wallet.
The majority of home business owners in Network Marketing are immensely reliant on the earnings from their Home Based Business Opportunity. Now, given that statistically, the majority of the people you try to market your business opportunity to will not join, it means that:
1. There exists a need to show your business opportunity to A LOT of potential customers
2. The amount spent to generate your potential customers is eating into your revenue from your Home Based Business opportunity.
How would you cater for advertising and other business-related costs? If you have your home based business opportunity pay check as your only source of income, then you are playing dangerously close to the bulk of Home Based Business owners who may not find success in this industry.
There are of course individuals who have found huge success with just the income from their Home Based Business opportunity, but today, that is becoming increasingly complicated.
If you possess more than one source of income, you would be able to cater for your day-to-day home based business expenses, while growing your residual income from your Home Business opportunity.
I hope you are on your way to being part of the 3 per cent of Home Based Business entrepreneurs who will find success in their businesses.
