It’s been said that 97% of network marketers fail, and depending on what you define as failure, more than likely you’re included in that statistic, and there are many reasons why. Before you blame your upline, the company, the product, the comp plan, the market, the mailman or your dog consider these reasons for your potential failure:
1. No Action = Satisfaction
If you can’t be honest with anyone, be honest with yourself. You’ve attended countless webinars, seminars and coaching programs. Your MLM library is filled with any and every product the “gurus” come out with yet you haven’t produced a single thing for yourself. Maybe a blog post or video here and there but aside from that you’ve done absolutely nothing. No wonder your business is failing. If you want to see real satisfaction in your bank account, and your life you have to take real action.
2. You Keep Calling on Your Friends and Family
If they didn’t join you in your last 5 opportunities what makes you think they’ll join you in this one? Listen, I learned a long time ago my friends and family ain’t (yes ain’t) worth a daggone thing when it comes to building my business. It’s not that they’re bad people, they’re just not interested in network marketing and no amount of poking, prodding, bulling, stalking, showing of my comp plan or check is going to push them in that direction and the ones that give half a thought and join generally want me (or you) to work the business for them. Now I can’t speak for anyone else, but there’s enough pressure building my own biz, let alone someone else’s just to keep me afloat. Realize that this industry is not for everyone. If it was who would bag your groceries, handle your banking, fight your court cases, put out your fires, catch criminals, examine you when your sick, run your schools, etc…? The next time you’re tempted to call a friend and pitch yet another opportunity to them — DON’T — . at least not for now. If it’s something you KNOW they would be interested in, mention it to them in passing, but don’t pressure or beg (PLEASE DON’T BEG). At the end of the day, it’s not the product, the company, or the comp plan ‘” it’s about your success and until you have reached a certain level the people that know you best may not be interested. Show and prove and they’ll come around.
3. You Have a Warped Sense of Reality
Many people jump into network marketing thinking it will be a quick fix to all their financial problems. In a perfect world you’ll join a company and if not everyone, at least 90% of the people you talk to will see the vision and from there you’ll sit back and collect checks. That would be nice, but unfortunately it doesn’t work like that. Unless and until you have made a large enough name for yourself (i.e., social proof) you’re going to have to put in work. That means attending events, investing in personal development systems, getting out of your comfort zone and getting to know people you might not have otherwise talked to in order to build a large enough network which will hopefully turn into a list that converts. And even when you reach the level of “guru” you’ll still have to work. In fact you’ll have to work that much harder because there will be tons of people waiting to prove you and your company are nothing but a big scam. The bottom line is network marketing is work. You have to work to attain success and you have to work to keep it by constantly developing yourself and being aware of where the industry is moving as it is ever changing.
4. You Need to Turn Up The Heat on Your Cold Market (Lead Generation)
Circling back to point #2 the bottom line is this: even if you have a few in your warm market that bite, eventually you’re going to run out of prospects. Everyone at some point in their career has to turn to the cold market to drum up more business. The problem is 97% of you don’t know how to do it and thus you become frustrated that the people you know are not interested and stressed out about having to stop random people at the grocery store, the mall, or wherever thus you get frustrated, quit (physically and/or mentally) and your business fails. One of the thing I see many internet marketers do is take for granted that they can use Facebook and other social media sites to generate leads. While this is definitely a good method for generating cold leads once they’re warm nothing beats picking up the phone. Doesn’t have to be a long conversation, but some of my best online relationships came as a result of me hoping off the computer and picking up the phone to call that person. Some of my closest friends (in and out of business) I met online but speak to over the phone almost everyday. Don’t believe me? Step outside yourself, try it, and see what happens.
Very few people master network marketing their first go round. Even the gurus will tell you for many of them it took a few tries before it all worked out. The key to success in network marketing is your ability to learn, apply, and master specific marketing and lead generating techniques that will catapult you into the top 3%.
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