Why Do People Fail In Network Marketing
58Failure in network marketing is inevitable for many, but why when so many people are getting wealthy in network marketing is this so. Having been around network marketing myself off and on for several years I have seen way more people fail than succeed. After reading several books, training, and even failing myself on more than a few occasions, I believe to know the answer. And let me just say to anyone who does old school network marketing - your tactics are outdated. Why do network marketing companies still teach people to go out and approach all of their friends and family members? This is a recipe for disaster. Let me just say your friends and family members are possibly going to buy your products out of loyalty and trust, but don't count on them to build your business. What I am saying is spend your time only sharing your products with your friends and family members, don't waste your time on sharing your business. They have no interest and will only let you down in the end. Unless you have a family member who expresses a genuine interest in network marketing - stay away at least from a business perspective.
The 2nd reason for failure in network marketing is lack of business experience or high expectations. Most people are used to working for a paycheck and have been programmed to only work when they are getting paid. The wealthy don't work with that mentality in mind and many business owners don't operate like that. If you are recruiting people who have never been business owners, you are going to have to tell them to hang on to their day job, and to train them that network marketing is a business not a job. Even though I spent most of my early years self employed when I got into network marketing seriously, I had been an employee for almost 5 or 6 years. It took some reprogramming for me to do this business. The best book to reprogram anybody from the addiction to a paycheck is, "Rich Dad, Poor Dad", by Robert Kiyosaki. You must reprogram your belief system to be successful in network marketing, or any business for that matter. Network marketing is surely not a get rich quick scheme it takes many months of hard work to begin to see the fruits of your labor. Just keep in mind that most people who are earning over $100,000 a year in their professions spent 7 to 10 years of educational training beyond high school to do so. Many doctors don't even begin earning a paycheck until they are $300,000 - $500,000 in debt, if they weren't fortunate enough to come from a wealthy family.
The 3rd reason for failure in network marketing is lack of financial resources. Even if you do go after all of your friends and family members to join your business, how do you plan to market your business afterwards? Fortunately, the internet has made it more affordable to do marketing than ever before. But if you and your down line don't have a steady stream of prospects to approach you will not be able to build your business. I know of top MLM guys who would lead you to believe that they started with nothing to make their millions, and spend many thousands per month on advertising their business. This is a business folks and to treat it any differently is a recipe for disaster. You must market, advertise, and promote your business to be successful in network marketing. There is a reason that Coca Cola still spends 50% of their income every year on advertising (And they are well known). If you don't have a lot of money to begin with that is ok, but just remember your business will grow much slower than those that have the capital to really market their business.
The 4th reason for failure in network marketing is when distributors don't take direction from their upline. If your sponsor has been successful in network marketing, by all means take direction. This business is all about duplication. If you try to re-invent the wheel you are setting yourself up for failure. Listen to your sponsor, they should be hopeful for your success. If they are not approachable, or won't spend time helping you build your business, than either find somebody in the company who will, or switch companies. No product in the world will replace valuable training, an approachable upline, and a duplicatable system. Besides, if the products were not replaceable, your company wouldn't need you.
The final reason for failure in network marketing is quitting. We have all heard the saying, "If at first you don't succeed, try, try again". Most network marketers fail simply because they don't stick around long enough to see any return on investment. Again, this is a business, not a JOB. Treat it like a business and don't ever quit and you should be successful. One of the most successful network marketer's on the planet Mark Yarnell recently wrote a book on the profession, where he states that rarely anyone who sticks with network marketing will not become successful. Statistically speaking 85% of all network marketers who don't quit become wealthy over time.
