Tuesday, June 29, 2010

Why People Fail in Network Marketing

Over 90% of the people who join network marketing companies will fail. Many will fail over and over. Here are some of the reasons. Evaluate your own network marketing career. Make the necessary changes and you will achieve high levels of success! Here are main reasons why people fail in network marketing:

1. Select the wrong company - company goes out of business. Before you invest your time and money, make sure you have selected a company that is financially strong, well managed, has all the necessary infrastructure to handle momentum growth, and has a long-term plan that is beneficial to the distributors.

2. Select the wrong upline - no training or support. Make sure you are working with an upline group that has been successful, has the time to work with you personally, has proven training and marketing programs in place that you can use.

3. No purpose for being in business - if the "why?" is strong enough, the "how" is not as important.

4. No written goals - you must determine your goals, write them on a piece of paper, develop a plan of action, schedule daily activities that will take you to your goals.

5. Focused on making money - money is important, but your focus should be on helping others succeed. Zig Ziglar once said that "you can have everything you want, if you just help enough other people get what they want." Go out to make friends and help them become successful and you will also be successful.

6. Treat their business like a hobby - you must give your business consistent hours every day. If you treat it like a hobby (do things whenever you have some spare time), you will get paid like a hobby. If you treat it like a business (plan your work and work your plan daily), you will get paid like a BIG business!

7. Don't contact enough people - your job is to be a messenger. Take the message about your company, products, and opportunity out to as many people as is humanly possible each day. Don't worry about those who are not interested. You are just sifting for those who are. If you were to contact just one new person every day (six days a week), you would make 312 new contacts per year. If you just sponsored 10% of those, you would have 31 new distributors each year. What if they just duplicated what you did. WOW!

8. Blame - they blame their upline, the company, the compensation plan, and the products for their failure. This is YOUR business and YOUR responsibility. If you have chosen the right company and upline, then your success or failure falls squarely on your shoulders.

9. Impatience - most people get too impatient and quit with success just around the corner. This is a business and it takes time to build. If you were building a traditional business, it would take 3 to 5 years before you were actually making any money. In network marketing, you can do this in a matter of months. Be patient and never quit.

10. Takes NO personally - people are going to tell you NO. It's not the right time in their life for what you are offering. They are not rejecting you, but rather the opportunity or products. Don't take it personally, just stay in touch with the person, so when the time is right, you will be there.