It’s well known that most people fail in multi level marketing. The rate of failure is very high. A recent study I read stated that about 90% of multi level marketers either fail to make a profit or quit after three months.
For a long time, I wondered why I was not getting the results I wanted in Network Marketing. I had marketing and business experience. But I was not able to build a team or sell my products.
I found there were two main reasons why I failed to create a successful multi level marketing business.
1. Too many opportunities. When I got into multi level marketing, I found myself promoting more than one opportunity. I was a sucker for the next “big thing.” Every time I heard about an opportunity, I signed up.
I finally realized that I wasn’t looking for the next “big thing.” I was trying to avoid failure. I would work hard at one opportunity for a few weeks and when I didn’t see results, I‘d say the system didn’t work or blame the products. I convinced myself that once I found the right system and the right products, I would be successful. But it was me with the problem. Not the system.
I wanted to blame the multi level marketing system which had proven to be successful for many people as the problem so when my friends and family asked why I wasn’t successful they wouldn’t look at me as a failure.
I owned a franchise and was a real estate developer for several years so I knew it takes three to five years for a business to be profitable. But like many, I was mistaken that network marketing could provide wealth even when I didn’t put in the work.
2. I didn’t have a list. If you’re in multi level marketing and you don’t have a list you will never be successful. I didn’t want to ask my friends and family to join my business. I thought I could use my marketing background to buy leads and advertise to get traffic to my website.
I learned quickly that multi level marketing is about building relationships.
You can’t get people to join your opportunity by sending them to a lead capture page or website. Yes, you may get people to sign up here and there, but it will not be consistent. Nor will this method provide you with a steady income.
When people join your network marketing business they become your partners. People only partner with people they like, know and trust. It takes times to get people to like, know and trust you. You already have relationships with your friends and family. Until you become successful, they are more likely than strangers to join your business opportunity.
If you aspire to be in the network marketing industry and are considering joining a multi level marketing company, I strongly suggest you find a company with a proven track record. A company whose products and services you will use yourself. It is much easier to promote produces and services that you use.
I encourage you to stick with one opportunity. In the multi level marketing industry, you can invest a small amount of money, work part time for three to five years and within that time earn a full time income. Traditional business opportunities don’t offer these advantages.
Start with your list. Remember your friends and family already like, know and trust you. Even if they don’t join your business they may be able to give you referrals. It’s easier to sell to a soft lead then a cold lead.
Lastly, the key to being successful in any business is to get started so find a multi level marketing opportunity, ignore every other and get to work.
Your Success Partner,
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