10 MLM Mistakes to Avoid at All Costs
We all make mistakes. I've made more than most. Whether you're new to network marketing, or an experienced veteran, you will make mistakes from time-to-time.
The key to success is to learn from each mistake and never make the same mistake twice. Here are some common mistakes to avoid at all costs:
1. Promoting Multiple Deals
I've never met anyone successful in our industry promoting multiple MLM Companies at once. Not one person. Yes, that person might exist, but I've never met them!
To succeed at anything, you have to focus. Could you imagine an Olympic athlete training for two different sports? I don't think so. Pick one thing and do nothing else.
Don't expect ANYONE to take you seriously if you are promoting multiple deals.
2. Jumping Companies
People switch companies like they do their underwear. It amazes me how many people I talk to are in a new deal every 1-3 months.
Folks, you won't build a successful business of any kind in 1-3 months. Successful businesses take several years to build. Pick ONE company you want to have your problems with and stick with it for the long-term.
No company is EASY to build. The problem is not the opportunity you are in. The problem is YOU. Until you develop the right skills and mindset you will fail at EVERY opportunity you promote.
3. Reinventing the Wheel
Lots of people entering our industry are not coachable. Rather than listen to their successful upline, and follow that person's advice, they reinvent the wheel and try to do things their own way. That never works! If you are new, or not successful yet, do not EVER deviate from your successful upline's system.
4. Being Short-Sighted
Expecting to make money your first year in ANY type of business is not realistic. You might make money, but it's highly unlikely.
Why? Businesses take time to build. Could you imagine a restaurant owner spending $100k to open a restaurant and then closing it two months later because he wasn't making money yet? Nope.
You need to take the long-term view with your business.
5. Not Listening to Your Mentor
You must be coachable. If you have a successful mentor who is willing to help you, you are a FOOL not to do what they suggest. When you call your mentor THEY should do all the talking, not you. You should take notes and do everything they tell you to do. Otherwise, you are wasting their time and yours.
6. Not Staying Plugged In
Network marketing is an event driven business. Do not be the lone wolf. Attend every meeting and event no matter what. Once people "fade out" of the system and events, they're normally out of the business in less than 30-days.
7. Dabbling with Your Business
People treat their business like an unwanted step child. Most people dabble with their business, because they have very little money invested in their business.
If you treat this like a hobby, you will lose money or make hobby type income. Act as if you have one million dollars invested in your network marketing business.
Treat it like a business and it will pay your accordingly.
8. Confusing Busy Work with Productive Work
Everyone you talk to is busy. I am. So are you. Being busy will not grow your business. You must learn to work smart. Spend ALL of your business hours on income producing activities: retailing and recruiting. We get paid to talk to people. Everything else you do is busywork.
9. Managing Your Team
What most people in our industry do is sponsor 2 to 5 people and then sit back and try to manage them. That is a costly mistake. Each person on your team is their own CEO. Your job is to sign people up, give them their getting started training, wish them luck, and then go and sign up more people. You are no one's employer or boss. It's not your job to motivate or babysit your team. Lead from the front and work with the willing.
10. Using Hype, High-Pressure & Deception
If you are doing any of those three things, please stop it immediately. People doing that give our industry a bad name. There is no reason to ever use hype or pressure or deception. Be honest with people and treat everyone as well as you would treat a loved one.
There you have it folks. Those are 10 simple MLM mistakes to avoid at all costs. Which one is your favorite and why? Feel free to leave a comment below and let me know what you think. Thanks.
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