Why people fail in network marketing business?
Do you real want to know why people fail in network marketing business and what you can do to avoid failure in network marketing business?
Network marketing is a viable business that actually works. Yet, so many people fail in network marketing industry. Network marketing is an extraordinary profession that has changed the lives of many people in a big way.
I keep receiving criticism from those who have experienced failure in network marketing business. They of blame the industry instead of seeing how their actions or shortcomings played a role in their failure
Nowadays, network marketing is indeed a very exciting industry. More than any other business, it benefits a rich career and opportunities for many people around the world. It has been described as the best platform to retire. However, network marketing is not a cup of tea for everyone. If you are one of those people who have been in the industry for some time, then you have to reach out to those who say, “It doesn’t work.”
Did you know that only 5% of network marketers achieve financial success in their business? By now, you are probably wondering why? So, have a cup of coffee and relax as I have come up with 12 essential reasons why people fail in network marketing
After reading this post, you will learn how to succeed in network marketing
So before I dive into today’s training, it is important to know that a lot of work needs to be done to do any industry.
Let me tell you 12 Main Reasons why people fail in network marketing and How you can avoid them
The fact is that only 4 out of 10 network marketers will experience significant revenue in their business And only 1 in 10,000 network marketers will participate in a business worth at least 1 million naira. These numbers made me think. After doing my own research and diligent practice from my personal experience, I realized that there are generally 12 and more reasons why people fail in network marketing business. I mean why people don’t make much money and just leave the business.
Why people fail in network marketing business: No potential customers List
Prospects is the heart and soul of network marketing. Without prospects, you have no one to sponsor your business. Most network marketers fail because they do not have prospects and do not make a list of potential customers.
A customers list of 100 names right away? It just comes to your mind when someone asks, “Which of your family and friends do you think might be interested in your business?” Update this list religiously every day so you can connect with these prospects, make appointments, and present them with business. If you don’t have a list of prospects, create one now.
Never get overwhelmed about your warm list. You will get better result if you create a list of cold market. But you must ensure they are qualified people that could become your future team mates in future. You can use whatSapp broadcast, phone contact, email list etc. The most important thing is that you must have a list. Money is in the list!
Why people fail in network marketing business: Very low commitment
So you’ve invested a hundred or so dollars to get into this network marketing business and you think the entry fee is just the amount you paid to register, right? Wrong. The payment you made was only an initial investment. To be successful in network marketing (as is the case with any other business), you need more than money.
Most network marketers fail because they do not take the time to participate in the business and do not spend extra money on improving themselves, smoothing out their prospects and building their teams.
In short, they lack commitment to the business.
Most of us have a laid back attitude when it comes to marketing. Or some of us consider business a part-time job rather than a full-time job. To grow rapidly in a business. It needs the attention of its owner. This also applies to network marketing. Many networks quit because they have little or no business income, but the question is, have they paid 100%?
Income driven goal
Most of us get involved in network marketing for one root cause (making big money). A lot network marketers fail because they are based on too much revenue. They are worried and want to start making big money right now. They see capacity as money, not as team members. The quality of network marketing is that you cannot succeed without the help of others.
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Lack of excitement
Many employees are unhappy with their jobs because they are not emotionally satisfied. When he wakes up in the morning, instead of confirming it, he “cursed it” and it will be the best day ever. Many people have quit their jobs due to participating in network marketing and are pathetic in their jobs.
Once you start your journey as a network, you need to constantly remind yourself of the business involved. You have to be passionate about your goals, you have to avoid the energy that others feel. Remember why you will be your commitment. Think about it every morning, as it will increase your excitement. This will keep you in the game when you face challenges.
Why people fail in network marketing business Lack of self motivation
Why people fail in network marketing business: Lack of self-motivation
When you first got on a bike or drove a car, you were scared, right? The first time you fell off a motorcycle, or your car crashed, your thoughts started, “I don’t think I can do this.”
However, with constant practice, you got the hang of it and now it seems like a natural skill. Network marketing is like this; You will not succeed now. There will be bumps on the road and you will fall down, but do not be discouraged and do not give up. Remember, winners never win and winners never give up!
As with any major achievement in life, it takes equal effort or hard work to achieve the reward, especially at the beginning of any business.
If you want to get 6 figures in your business, you have to put in whatever it takes to reach this economic goal. If you don’t have that kind of mindset and drive, you won’t succeed in your business.
Why people fail in network marketing business: No written goals
If you do not write your goals, you will soon forget them. With all the distractions in life, it is easy to forget. When you first connect with your network marketing company, you should have a goal. It can be your own home, to fit your dream car, or something else! To help you remember these goals on a daily basis, you must have a dream board.
The dream board can be any board (cork board, magnetic board, on which you can paint pictures) depicting your dreams. Find bright, colorful images that make you feel great, excited or excited. Place this dream board on the edge of your bed so that you can wake up in the morning. Just remember what you are doing.
Taking a “no” personally
It is often said that if you get at least a thousand points in your network marketing business, you will succeed. How many times have you approached someone to sign up and the possibility did not say.
Your instinctive reaction may be “Frightened, I worked with my tail to take this breath and now he’s not saying that?” Don’t take it personally, because the person is not talking about business opportunities and is not telling you. Also, most of the time “no” can only mean “not now”. If not, then move on to the next person. Don’t make it an easy obstacle to achieve your dreams.
Poor posture or branding shows a person’s lack of self-confidence and poor self-image. You need have a good personal brand for people to see potential I your opportunity. I am not saying fake it before you make it. Be your real self.
Most network marketers forget that people first see how you feel. If you want to be a professional network marketer, look like a professional and trust yourself, your company’s products and company.
Why people fail in network marketing business: Salesman approach
Network marketers are not salesmen. The salesman’s job is to get sales, earn commissions, move on to the next sale and let the company’s customer service be free from any hassle. On the other hand, a network marketer doesn’t just sell. It needs to make its own duplication, so that its users can learn to sell if they want.
Most network marketers focus on getting as many people as possible to sign up instead of creating their own duplication. Always remember that network marketing is not a matter of multiplication, it is a matter of repetition. It’s about taking advantage of their time and effort instead.
Network marketing is not a matter of multiplication, it is a matter of imitation.
10 Wrong expectations
Sometimes expectations are misrepresented when people start in network marketing. If you start someone with false, unrealistic expectations, they will feel like a failure if those claims and expectations are not met.
On the other hand, if you start someone with the right and reasonable expectations, they won’t feel like a failure or they have lost.
Starting people with reasonable expectations from day one is critical to one’s success, especially when they start.
11 Don’t believe it can happen
Success in your business and network marketing in itself is the key to building a successful business. If you do not strongly believe in the products of the industry or your company, it is very unlikely that you will be able to build a team or make a sale. Hence, business opportunity is among Network marketing failure reasons
And if you are in an environment where no one supports your dreams for your life and business. You need to change your environment. It is even more important that you raise your level of trust.
Your confidence and conviction should be stronger than others’ beliefs. You have to trust yourself, even if the people around you do not trust it.
12 Why people fail in network marketing business: Lack of proper training
There are a lot of network companies out there and some have very good training but unfortunately, some are not. If your company does not have the proper training for you, look for network marketing professionals from whom you can learn.
Even if you have an experienced brick and mortar business or you have sales experience, you will probably learn very quickly that network marketing is different from the traditional business there. Until you learn required skill for success in network marketing you will fall victim of above reasons Why people fail in network marketing
I have given you 12 main Network marketing failure reasons, so you can avoid these failures. What do you think is the # 1 reason network marketers fail? Let us know in the comments below.