Network Marketing is a fickle business, where a few people are wildly successful, some others generate a modest income, but the majority of people fail dismally and never even make one sale.
Now why is it that the majority of people who try their hand at Network Marketing fail? I believe there are a number of reasons for this, and I would like to outline some of the main causes for the average persons failure.
1. Lack Of Team Support
I believe one of the biggest reasons people fail in Network Marketing is due to a lack of team support. Unfortunately, in many cases, once a person has signed up to a particular business, that is the last they hear from their sponsor, so they effectively have to do it on their own.
A lot of the time, the new Network Marketer is handed a manual, and a pile of product and sent on their way, with no real idea about what to do next.
However with good team support and leadership, the new Network Marketer has a far greater chance of succeeding because he has someone to encourage him, as well as people he can fall back on to help answer the questions that he or his prospects might have.
2. Lack of Belief in Product
To succeed in Network Marketing, I believe you must have a belief in the product that you are promoting. This is one of those obvious points, but it is one many people get wrong.
The first Network Marketing company I worked with, I fell in love with the concept & the opportunity, but I wasn’t all that excited about the product, which was vitamins.
Now for many people, vitamins are the perfect vehicle, but for me, it just didn’t push my buttons. So needless to say, I didn’t do too well.
You must believe in the product you are promoting, because it will come through when you talk to people about it. You will also be more motivated to learn all you can about your product line, which will of course help you when you come to promote it.
3. Lack of Belief in Business Model
Unless you truly believe in the Network Marketing model, you shouldn’t get involved.
Network Marketing is a vehicle that can help you achieve a significant residual income while you help other to do the same thing.
Many people have a negative opinion of Network Marketing, because they see it as pyramid selling, and believe the only people who make any money are the people at the top. The truth is, people at all levels of the business can make some serious money. The people who are most successful, are the people who believe in the system and help others to become successful also.
4. Know What You Are Selling
Did you know that Network Marketing is not about selling Vitamins, Cleaners or Vacuum Cleaners? What we are promoting is not the physical product, although that usually is what helps us to get initial interest from a prospect.
What we promote as a Network Marketer is the ‘Opportunity to make money’.
The whole concept of Network Marketing is to build a network of businesses. and it is to your benefit to help your clients and prospects succeed in their business.
At the end of the day, it is not the product that will make you money, it is promoting the Business.
5. Lack of Belief in Self
A lack of belief in yourself, is another reason many people fail in MLM. Their self-image tells them that they can not sell. They don’t truly believe that they have what it takes to be successful, or for that matter they don’t feel they have a right to succeed.
The truth is we all have a right to be successful, and whether a person wants to admit it or not, we are all in sales. Whether we are a school teacher, a computer engineer, or an accountant, we are all in sales. Everyday we are trying to sell our ideas, thoughts and opinions to others. You could say that the words sales and influence are interchangeable.