Saturday, October 11, 2008

Why people fail in Network Marketing? 5 simple reasons

It's known that 97% of people fail in Network Marketing. It's actually one of the main reasons some people use to damage the image of the industry. But we don't deny it. We fight it and try to make it to the 3%. We try to understand the reasons so we don't make the same mistakes everyone else is making. So, why do people fail in Network Marketing and what can we do?

There are many sources that explain the failure in MLM. Ranging from 1 to 10 or more, leaders give reasons that I summarize in five because of their similar nature:

1. Lack of education and training : we could say that everything can be resumed in this one because we should learn the basic principles of the next reasons in this area. It includes the things that we don't understand at the beginning of our careers, like the need to change mentalities (from employee to business owner) and all that comes with that: treating our business like a business, the importance of daily motivation, the need of a marketing plan, the different strategies we can use, etc.

2. Lack of money: Yes, we all want to make money. I bet that's why you signed up, right? (I know I did). Part of that business mentality means that we need a budget, especially for marketing since is the most important activity.

3. Lack of productivity: Some leaders mention activity, but there are many Network Marketers out there filling their days with activity that doesn't make them money. Productivity is what we need to succeed and defeat failure.

4. Lack of realistic expectations: If someone told you this was easy, I'm sorry. It's simple, but it doesn't mean is easy. It takes work and dedication. And even though it IS possible to have immediate success, not many people have the skills to do that. For most of us, simple humans and busy moms, it's going to take effort and patience. And that has to do with understanding exponential growth (as part of the training, reason#1)

5. Lack of marketing: Now this is the big one. Again, we go back to training because we should focus more in learning how to market and more importantly, WHAT to market, since the beginning of our careers. And not only learn but do, so we can really "earn as we learn". Marketing is at the core of our business. Without it, we have nothing. With good marketing tools and system (yes, we still need one) we'll never run out of prospects. Even better, qualified prospects, the ones that actually want to work with us.

Do you want to know more?

The 7 Great Lies of Network Marketing

We are successful Network Marketing Moms.


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