11 Reasons Why People Fail In Network Marketing
Multi-level marketing has been adjudged as one of the most exciting trends in business today. A business offering more opportunity for wealth to hundreds of thousands people globally than any form of business. Forbes Magazine has it that, one of the best platform to retire on is in the MLM industry. MLM has gained respectability over the years, seen to be the great economic leveler. The bottom line on MLM is that it works. The concept is so simple that many intelligent people find it difficult to accept and wind up considering it a fraud or scam. However simple it is, it’s also not easy succeeding in it. In this post, i highlighted some points where so many people have failed to have a breakthrough in this business.
1. Not taking it as a business – So many people fail in this industry because they regard it as one of those MLM stuff without putting so much interest in it. Unfortunately many people are jumping on the MLM movement without the remotest idea of what they are getting themselves involved in. People who make it in multilevel must put in great effort, energy, time, investment and concentration to build their organization
2. Lack of self-development – Without self -development in this industry, you will be perceived as just another marketer preaching the same gospel. To be distinctive, you need to horn your skills and by so doing. It requires your attending lots of conferences and big events outside your company’s planned events. We all can go to the internet and read articles, but it’s important that having a mix in the midst of renown personalities who have been in the game for years will change your orientation about the business and industry. Meeting people with diverse cultures and background will help you greatly to be successful. Immerse yourself by regularly buying lots of books and attend lots of seminars. Most importantly, see yourself in a better situation than you are currently in without justifying where you are. Learn to train yourself.
3. No basic knowledge – Most people venture into an organizations without having proper knowledge about the company and management they are hopping into. This is very crucial as past experiences have hurt a lot of individuals which has made newbies have the wrong perspective about the industry as a whole. Do a proper research on the company you are considering venturing into. Don’t be pressured into becoming a distributor by people who want to sponsor you. Consider the product line of this company. Do they have products that will sell itself? Health products are one of the fast selling products so consider towing that line. Have a background check on the financial backing of the company you are about to join. Do they have financial investors backing them? This is a major factor and it is a major reason why MLM companies fail. Most importantly is the top management of the company, their background. How long have they been involved in MLM? How successful have they been? The company you want to join should be a young, progressive one as this is where the real ground floor opportunities do exist. The earlier you get involved, the greater are your chances of becoming wealthy.
4. Bickering – I tend to admire colleagues that have no jealousy of other colleagues, an attitude as rare as a bar mitzvah on the west bank. Animosity is a disease eating deep among human beings and this has been playing out among MLMers. When it seems a leader has decided to move on to another company or probably doing so well in the same organization as yours, the hate syndrome brews like a venom. Until you learn to dissipate these traits, you will have a brick wall as an obstacle to success. Learn to build healthy relationship as this is a fulcrum to having a solid team and a display of leadership quality. Brain Tracy once said and I quote “give credit to those deserve it and see amazing results in return.
5. Fear of Failure – How well can you succeed in life when you can’t or don’t take risk? People have been hurt by companies that have made promises or assumed leaders bringing in new prospects into their organization and at the tail end no tangible result. But that is not enough to entirely abolish taking another shot in the industry. As hard as it may look, network marketing business has changed a lot of lives with zero skills, no basic education and from rags to riches.
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