If you’re reading this post you’re probably one of the millions of entrepreneurs who are struggling to make money in a network marketing business!
Don’t feel bad. It’s not fatal and the doctor is here to make it all better.
In my previous post entitled, Network Marketing Is For Losers, I talked about the fact that 97% of people who start a network marketing business fail.
Actually FAILURE is a good thing…..if you learn from it!
All successful people were great failures at some point in their lives. But they had the core values of belief, commitment, and persistance to LEARN from their mistakes (failures!).
Thomas Edison tried 10,000 different materials for the light bulb filament before he found the right one! He said, “Every time a I tested a material that didn’t work I knew I was one step closer to discovering one that did!”
1. Treating Their Business Like A Hobby!
Most new MLMers treat their “little” business like it was a hobby on the side. Hobbies cost you money! Big earners in this industry treat their business like it is a MILLION dollar money making machine!
2. Don’t Treat Their Business Like A Job!
Almost all people who fail in MLM make their business low priority on their list of important things to do. If they have time left over during the week that’s when they do their business. Successful networkers treat their business like it was their job! They plan and make specific time to “work” their business just like it was a job where they had to be at a certain place at a certain time. Commit specific time to building your business. Make it a high priority!
3. Don’t Have A Written Business Plan
Success in business whether it’s a traditional business or a network marketing business, requires planning, discipline, commitment, and execution. As an MLMer you are the CEO, CFO, VP of Sales & Marketing, and the other department heads all-in-one! A good business plan addresses every aspect of business.
4. Don’t Take Consistent Action
A great way to fail at MLM is by being inconsistent with your business activity! If you only have an hour a week to devote to working your business then make sure you give one hour of effort EVERY WEEK! Don’t start and stop when it comes to your business. Going days or weeks without working your business is a recipe for failure. Consistency over a long time is more important than short irregular bursts.
5. Lead With The Product Or Comp Plan When Recruiting!
Fact: people don’t give a crap about your super duper best-ever product or your comp plan that pays out 18 different ways. Want to know what they care about? They care about if your the kind of person that can lead and teach them how to make some money. Are you a leader? Are you someone they will believe in and follow? Do you offer more value to people than they expect? People will join you in your business if they believe in you!
6. They “Chase” People!
Unfortunately, most people fail in MLM because they are taught by their uplines the wrong way to build a business from the get-go! They’re told to make a list of everyone they know and then go contact everyone on that list! The real truth is that people who know you the best will believe you the least! You don’t have “business” credibility with these people! That’s just human nature. Even Jesus couldn’t perform healings or miracles in Nazareth because the people there knew him as the “carpenters son”! Don’t chase people, ”attract” them to you by implementing the principles of MAGNETIC SPONSORING! ]
7. They Quit After A Few Rejections!
A typical MLM newbie will be rejected by the first 3 or 5 people they approach about their product or business. After the the fears about their inability to do their business are confirmed, they QUIT! As toddlers did we quit trying to walk after we fell time after time? Did you quit learning to ride your bike after you crashed a few times? NO YOU DIDN’T DID YOU? Being a successful Network Marketer is a SKILL that you can learn just like walking or riding a bike! Colonel Sanders, of Kentucky Fried Chicken fame, approached 1,000 restaurant owners who turned down his chicken recipe before he got his first “yes”! And you know the rest of his story. Not everyone is going to join your team. However it only takes a few good ones to make you rich. Stay the course. Remember your dream. NEVER EVER GIVE UP!
Become a person of value,
The Value Marketing Coach