Why People Fail In Network Marketing? 3 Reasons You Need To Know.
Okay, guys here it is, 3 reasons why I’ve failed and will continue to fail in Network Marketing.
The first reason why people fail in Network Marketing. Mindset.
Ever hear the words “Get Rich Quick scheme”? How many people have asked you that very that dreaded question: Is this one of those get rich quick schemes?
Have you ever asked somebody that question yourself?
The facts are that even though they may not admit it at first, many people get involved in Network Marketing with the mindset that this is a get rich quick business.
First of all, they treat this as a hobby, not a business. They do it when they feel like it. They think that there’s an instant gratification like they get with a hobby. As they tend to forget that there’s a lot of hard work and discipline involved in running a business and the pay off does not come overnight, in the contrary like any typical store from business, the rewards come after many years of hard work and dedication. And let’s not forget about setting business hours to work and focus on the business only. You can ask many failed Network Marketers if they set store hours and they’ll look at you like if you had 2 heads.
Here’s the worst part, after they quit Network Marketing, you can ask them: Why did you quit? They’ll tell you: Oh those things don’t work, that was one of those get rich quick schemes.
The second reason why people fail in Network Marketing.
H.O.W. Most people aren’t Honest, Open minded and Willing.
“H” Honest. I’m not talking about being honest with others. Since many of the most honest people in the world can fail at Network Marketing. That’s because they’re not honest with themselves. They come up with every excuse to not focus on their business they let everything else distract them other than the task at hand.
Then they’ll be the first to say that this stuff doesn’t work when in all reality it’s them that not putting in the work that is necessary to run a successful Network Marketing Business. Then they’ll also say, I worked so hard at it and it still didn’t work.
And here’s where we come to the “O” of H.O.W. Open Minded.
Yes, they might have worked hard, but they worked hard doing it their way. They never ran a successful Network Marketing business, but now they know how to do it all. This is where the term “Teachable” comes to play.
Most people are not teachable, they have access to leaders, mentors and free training from the company that they are affiliated with. Successful people and strategies that work, yet they decide that they have a new way to invent the wheel. This business is challenging enough, why not just duplicate what’s been done by so many ahead of you? Especially when duplication is one of the major keys to Network Marketing Success.
“W” Willingness. The willingness to learn, then apply and grow.
One of the greatest gifts I’ve received from being in this profession is what I have learned. If you are willing to become the person that you need to become to be a successful Network Marketing Professional you will have no regrets.
However, that comes through the continues learning all the many skills, disciplines and habits you will need. No matter what they are. Ranging from basic people skills, character building, and advanced mindset development skills. All followed by immediate action and application of these new skills. Next, you will show others what you have learned ensuring growth, not only as a Network Marketing Professional but also as a leader of good virtue, impeccable skills, and amazing influence.
The third reason why people fail in Network Marketing. They quit.
This is an accumulation of all of the above which has compounded over time.
Now that initial excitement, passion, and determination have all faded away until eventually it’s all gone. They just give up and quit altogether.
Since they didn’t get the quick results that they wanted and it turned out to be much more difficult than that they expected it to be they feel that this is the best option for them.
However, it is not. It can be the worst decision that they can make if they were serious about becoming a Network Marketing Professional. The bottom line is that they are now giving up on their dream. Now it’s back living a mediocre life, working the grind of the 9 to 5, being told what to do and when to do it and accepting it.
Why? All because they quit, not realizing that when they quit on Network Marketing they gave up on so many other meaningful things.
No Passion, No Purpose, and No Results. One more reason why people fail in Network Marketing.
Right place, right time, wrong company, product or service.
Have you ever heard of the term, be a product of the product?
So many people get involved in Network Marketing for the wrong reason. They go to or are invited to see a presentation online. And unfortunately, so many people promote the money-making (“Get Rich Quick”) aspect of the business rather than the value and benefits of the product or service.
This leads the prospect or new business associate on the wrong path with the wrong ideas and an overall misunderstanding of what Network Marketing is really all about.
Now with this get rich quick mentality and no real connection to the product or service. Therefore no real passion for the product, service or company.
So if there is an auto-ship and their initial efforts have not produced enough income to cover that auto-ship after a few months the associate will find no value an what the are doing and usually walk away feeling frustrated and bitter about Network Marketing in general. Which is not a good representation of our profession. Anytime Network Marketing comes up in conversation their comments will be very negative because of their experience.
Now that you know the reasons why so many people fail in Network Marketing, you now have some key patterns or even habits for you to look out for. Not only within yourself but also in your team members and what to avoid with prospects and new business partners.
Knowing this will not only of benefit to you and your team, it will also build up the reputation of Network Marketing and the profession overall.