As I mentioned when I wrote my first blog entry, I have made
sooooooooooooooooooooo many mistakes in my initial start, that it nearly led to my demise of ever surviving in this industry. My
purpose for creating this blog was to share with others, the mistakes that I have made to help you prevent doing the same.
One of the biggest challenges about this industry is that the sponsors who tend to be our source of information in this business are either so excited about signing us up that they don't tell us the "whole truth" about what's required to survive and thrive, or they just don't know what this industry requires for themselves, and due to their
naivete and lack of experience, we suffer with them and eventually everyone associated with them gets discouraged and loses interest in the business altogether, unless they desperately find a mentor to guide them.
I have been a victim to both, but I have also been the cause for others to experience both. So to repay my debt back to our networking society, I will share with you the top 10 reasons why people fail in network marketing.
Reason #1: Lack of Not Having a System
Always remember that
this is a business of duplication. I can not emphasize this enough. One of the major reasons that I failed initially was because I was excellent at getting people into the business, but I didn't know what to do with them once they joined. I found them floundering and looking at me with eyes of desperation saying "I want to get going but what do I do?" Be sure that you do whatever you can to
learn the system THAT IS ALREADY LAID OUT..............It is very important to follow the system and avoid trying to create your own (which is #2).
If you don't have a system, you will find that you are building a team very fast, but you are earning a one time paycheck without the potential of establishing any residual income.
The objective of building a network marketing business is to create residual income. If you don't have a system for your team to follow, then the duplication will erode and your business will eventually die.
Reason #2: Trying to Re-invent the wheel
I will say that this was another major fallacy for me. Because of my education and headstrong personality, I immediately came up with my own preferred way of doing things because the system they had in place wasn't to my liking. The problem with that was, although I desired to do things differently, it wasn't
duplicatable for my team. Although i
didn't' like the initial system, it was simple enough for a 5
th grader to follow, therefore, the need to leave it as is will benefit your business more than you ever know. (Remember.......K.I.S.S.....Keep it simple stupid!)
Reason #3: Begging people into the business
Oh My Gosh.............If I could prevent any of you from desperately trying to build your business "the wrong way", I would have you read this paragraph five times to get it. I know we all want to bring a new face to the meeting to show our
up line that we are doing something. We also want the glory of seeing a new member in our back office.....not to mention the check we will
receive or the bonus earned by getting one more prospect converted to a team member. However, if you find yourself begging people into the business for all of the wrong reasons mentioned above, and not because they truly desire to join or build a business, you are setting yourself up for failure.
Some people may argue with me and say "just sign them up", but guys, when you bring someone into the business, you are also there to mentor them into becoming successful.
One of the challenges I had was that I wanted more for others than they wanted for themselves and when I would try to get them to do any of the activities that would lead to their success, they would fight at the opportunity of activity.
I found myself getting very frustrated with them, and in the end, because some of them were close friends, some of our friendships were destroyed because they ultimately blamed me for failing, and I knew that they didn't have what it took anyway to become successful in "this business".....maybe they would have been good in something else, but they never really wanted to put much effort into this business anyway.
Save yourself the headache NOW............If someone doesn't have the enthusiasm to get involved after seeing your opportunity.........don't press the issue. Take heed of their lack of enthusiasm and how you have to pump them up just to get in and realize that you will have to do the same to keep them in............YOU DO NOT WANT EVERYONE AS YOUR BUSINESS PARTNERS, NO MATTER HOW MUCH MONEY YOU CAN MAKE UP-FRONT! IT COULD COST YOU MORE IN THE LONG RUN AS YOU MAY EVENTUALLY GET DISCOURAGED DUE TO THEIR LACK OF PRODUCTION............
DON'T DO IT!!!!!!!!!!!
Reason #4: Quitting your day job toooooooooo sooooooooon!!!!
Okay, now lets tap into a harsh reality for a moment..........I know when you first signed up, you had a vision for all the success you would have with your business in a short amount of time. However, you failed to understand the time it really takes to establish a team that will generate CONSISTENT INCOME. Yeah, I know, you may have made a large amount of money in a short amount of time, but understand that it is the RESIDUAL that you need to build.
Because I was a Realtor when I first got started in my business, and the economy had begun to shift anyway, I thought that I should just shift my energy and
focus only on my business . Well, what I didn't realize is that :
#1. My Day job would generate leads from people that would be curious to know "what else" I was doing on the side to make extra money (especially with the collapse of the
Real Estate Economy)
#2. My Day job would generate extra income that would take care of my bills, while my part-time network marketing job would be supplementary income. That way, I wouldn't be desperate to build my
down line to make that extra money to pay my bills, and ultimately end up doing all the wrong things out of frustration because my power bill was on the brink of getting cut off if I didn't recruit someone.
My point is, when you are desperate, it shows and it can often hinder your performance and build unnecessary frustration. I know we are all told that we need a "WHY", but this is not a good form of a "WHY". Your why should be something that you can work towards but not a means of survival. If you do this out of needing the basics of life, you will find that you aren't having fun in your business and people will pick up on that and have no interest in what your doing whatsoever...........
DESPERATION CAUSES US TO DO DUMB THINGS, AND THOSE DUMB THINGS CAN COST US SERIOUSLY IN THE LONG RUN..............THEREFORE, DON'T QUIT YOUR DAY JOB JUST YET!!!!!
KEEP YOUR DAY JOB for now, until you can afford to pursue this business Full-time. When will that be you ask, When your residual checks are larger than your monthly pay checks.
Reason #5: Setting unrealistic expectations
When I first joined, I was on such a role, that I assumed I would be making 6 figures within 6 months....Call them lofty goals or plain
ol' stupid.......but my ambition would have me to believe this was so possible. Although it has been heard of for people to make this kind of progress, I found that this lofty goal would put more pressure on myself and my business
unnecessarily.
Although I am a big fan of ambition, and I will attest to being that person that will get out here and do whatever it takes to reach my goals, I still need to be honest and say that having a balance and setting realistic and attainable goals are more essential than most other things.
My lofty goals ultimately led to my doing all other things wrong, such as:
1. Quiting my day job too soon
2. Begging people into the business instead of picking solid business partners
3. Getting frustrated in the business, not acknowledging my small steps of progress
4. Blaming my team mates for not accomplishing their goals, so I can say that I've accomplished mine.
5. Lack of enjoyment of my business and taking things too seriously, giving others a message that I wasn't having fun in my "so-called" fun business that makes me extra money.
As you can see, setting unrealistic expectations can lead to many wrong outcomes and can be the demise to what would have been a fun and exciting opportunity for you and those that you share your business with. Doing things the wrong way in general, can become more work than its worth.
Our purpose for getting involved with our industries is to make extra money, but also to put the rat race behind us and do things that we enjoy doing. Although you will have to put forth some effort and work ethic to be successful, it is very important to ENJOY YOUR BUSINESS. If you aren't displaying an example of Fun, then why would anyone else want to join another "job", and invest money doing so?
I have shared with you the first 5 reasons why people fail in network marketing and to avoid overkill of information, I want to let these first five marinate and share the next five with you on another day.
To conclude this message, I will recap with the Do's of the Don'ts.............
#1: Do Follow the system that is already established for you and your business. Avoid doing too much talking and too much explaining. Instead, let the systems in place do the talking for you, allowing your example to
show your team HOW TO BECOME SYSTEM DEPENDENT RATHER THAN PEOPLE DEPENDENT.
#2: Avoid re-inventing the wheel and do away with the need to be "creative" UNLESS you are introducing NEW DUPLICATABLE Internet Marketing Systems that will help your team build their business.......................(To Learn How to do this, Read my free e-book; The 7 Lies of Network Marketing)
#3: Avoid Begging people into the business..............Instead, learn how to work with those that are looking for you by clicking here
#4: Don't quit your day job as of yet............Instead, seek ways that will bring in multiple streams of income in addition to your network marketing business, and allow yourself to be guaranteed success............
#5: Set realistic and attainable goals that will support your success.