Why people fail at network marketing
Well, this is the third or fourth time I’ve written about this subject. I think that’s way too much, but I was out reading other people’s blogs today and I came across a post that had the “5 top reasons people fail at network marketing.”
I’m not revisiting this topic because I think that this particular blogger was incorrect in their reasoning. I revisiting this because I think that there is a much simpler explanation than any list of top reasons top reasons for failing.
I wrote an ebook that had 30 or maybe 40 reasons why people fail in network marketing. I do believe that they were all valid reasons. All of those reasons do contribute to people failing at MLM.
I’ve also changed my mind on the definition of failure
I don’t think that there are very many people who actually fail at network marketing. At least not as I define failure. I don’t think that failing and quitting are the same thing.
If you’ve gone out and actually run a network marketing business properly and still have no results, then you have failed.
If you’ve gone out and talked to 2 people per day about owning a business, you have shown your company’s business presentation to two people per day and you have followed up with two of the people that you showed the business plan to per day, and you’ve done this 5 days per week and done it for 3 years, then you can lay claim to having failed at network marketing.
Anything less than that and you didn’t really try to build a business. At least you didn’t do it properly and you just quit the business. Which is fine, if you just want to give up. I’m not here to judge your efforts or you for that matter. If you don’t want to do that much work for the chance to have a financially free life, then that’s okay with me. Is it okay with you?
The only thing that I would ask of you that give up, is to not blame the business model.
Back to the point at hand.
Why do people quit the business?
I came up with a lot of reasons why.
Things like no business experience. Most people have no experience running a business. They just don’t know what to do to be a success.
If your sponsor has no idea of what to do to run a business properly how are they supposed to lead you to success?
Not having enough money to invest in your business. This can be because you just don’t have to money or it could be because you are spending any extra money you would have had, on the company’s auto-ship products.
Hey, you got into business to make money, not to create another monthly bill for yourself!
This is the number one reason why the company tells you to start in your warm market. I call your warm market, the place where network marketers go to fail. Most people are not prepared for the greetings that they are going to get from their friends, relatives, co-workers and neighbors.
Like I said, I came up with a lot of reasons why people quit network marketing.
I came to the realization that, although these reasons were valid, it really just boiled down to one thing.
The one, true reason why people quit network marketing?
Because they aren’t making any money doing it!
How long can anyone last, in any business, if they aren’t making money? Or worse, how long can they last if they are actually losing money, every month?
If you aren’t recruiting enough people, selling the products in sufficient quantities or some combination of the two, to offset your ongoing expenses, how long can you last?
This probably explains why 75% of network marketers quit every 90 days. They run out of money to invest in their businesses.
Or they are just going farther into debt.
That’s the dark under belly of this business that no one likes to talk about.
I’m here today to say that the first and most important thing that any sponsor can do for their recruits is to get them into profit as fast as possible.
Exactly how to get someone into profit will vary from company to company and from sponsor to sponsor.
If you don’t help people to get into profit you are creating a revolving door on your business.
One final word on this:
It is going to be very difficult for anyone to come up with a reason to quit the business if they are making money doing it!
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