Nobody ever asks me how to fail in network marketing but I see a lot of people doing exactly what leads to failure in network marketing. So, let’s take a moment and see what causes people to fail in network marketing when others are clearly succeeding in the same business.
Lack Of Business Level Commitment You spent a few hundred dollars or so joining some network marketing business and you think that this “entry fee” is all it takes. Reality Check: What you paid was simply part of your start-up cost. To succeed in network marketing (as with any other business), you will be spending more money and you will be spending more than just money.
One of the biggest reasons people fail in network marketing is because they simply don’t make time to tend to their business and they don’t invest additional money in personal development, learning to streamline their prospecting system, and building their team.
Most people enter network marketing with an employee mindset. Some of us treat the business as a spare-time job rather than a full-time or even part-time business. For any business to grow exponentially (network marketing or traditional business) it needs the undivided attention of its owner. A lot of new networkers quit because they have little or no income coming from the business, but they never really make a business level commitment to their own success.
Once you have made a business level commitment, even if you are building your business part-time, there are some steps you are absolutely going to have to take if you don’t want to be the next person to fail in network marketing.
Be Prepared To Spend Some Time This will include learning. You will need to learn about your company’s products or services. You will need to learn about your compensation plan. You will need to learn how to properly prospect and present. You will be spending time on personal development. I once heard it as “Become the person you need to be in order to earn the income you say you want.” The biggest investment you will make will truly be in yourself. You should be making a point of reading, listening to audios, and watching videos of of those who have built successful network marketing businesses. If you have the opportunity to be personally mentored by a true leader, take that opportunity!
Don’t Just Focus On Money I get that you joined your network marketing company because you want to make money. That’s one of the great things about network marketing. We can actually create outstanding income when we do it right. One of the ways we do it right is to show people how our products and/or services can help them solve a problem. Years ago, one of the most successful people I knew at the time told me, “Brian, I don’t think about the money. I focus on helping my prospects solve a problem. When I do that, the money just shows up.” It changed the way I approached talking to prospects, and It helped me more than double my income in that same year.
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