Submitted by: Gurpinder Gill
Multi level marketing companies are expanding internationally at a very rapid rate. Thus, most of us have come across a family member, friend, colleague, or even stranger that has tried to join a company through their team. In most cases, we first attend company presentations. During these presentations, we are introduced to the company’s products, compensation plan, and most importantly… Income statements, top net-workers of the company, Incentives and Bonuses.
With the display of incentives and bonuses such as paid vacations, cash bonuses, cars, etc, we tend to buy in to this very appealing lifestyle. Top marketers of the company make guest speeches and display their success stories and income statements that are usually in hundreds of thousands of dollars. Who would not want this lifestyle…where you work whenever you want and with whom you want?
Now, why do most people fail in network marketing companies? The question cannot be answered in one sentence because there are various reasons.
1. Not Treating the business like a Business: People get over-excited with the incentives the company is offering and decide to join. In reality, more than half of the people who join do not even have the mind set of starting and running a business. Once joined, they don’t take advantage of the training tools, marketing techniques, and free training presentations.
Tip: Training tools provided by the company are like a blueprint for success in your business. If they have worked for others, why not for you. Educate yourself. Learn from your sponsor. Learn from your mistakes and do not give up after two or three people have decided to bring you down. It is very normal with network marketing because of its reputation. Those who decided to drop out usually claim the company is a scam.
2. Lack of truth in company presentations: People join and think the money will flow in. This is because the company presentations make life seem so simple as a network marketer. No one actually mentions the amount of work and dedication it goes in to building a business. They only talk about the expensive cars, big houses, and paid cruises. Nobody talks about the number of times they failed before achieving success.
Tip: Research the top mlm marketers of the company and see how long they have been in the business. How long did it actually take them to make a certain amount of money or achieve a certain level of success! In addition to that, examine the company`s income disclosure…what are the average earnings of a network marketer with this company.
In short and simple form, some common mistakes new network marketers make and thus fail include:
– Not treating the business like a business
– Not educating themselves with company training tools
– Not attending company meetings and presentations
– Not talking to people about their business opportunity
– Expecting their sponsor will do all the recruitment for them
– Procrastinating
– Not marketing their business through their own social media networks – Look desperate to make sales
– Do not have enough knowledge about the products they are promoting
– Dont continually educate themselves with the latest marketing techniques available to assist their them with their business
-Do not have the business mindset….most people do not understand why they want to succeed in the business….most people simply join for the possible results that may come upon success. However, having a reason to business is a very big secret to success in business. The reason is why you will compel yourself to put in hard work, dedication, and commitment in to your business.
About the Author: The reasons for failing in network marketing are endless, but these are perhaps the top mistakes new network marketers make. I hope this article was useful to all. I was once a part of a MLM company, and thus am speaking from my mistakes as a naive marketer. I wish I knew these things then. Sponsors also make a big difference; some are more supportive versus others, and will guide you every step of the way. Others, not so much because they probably didnt educate themselves as of yet. Check out my Website for more:
blogforbusinessonline.com/ggill/
Source:
isnare.com
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