Even after devoted efforts for months, people fail in network marketing. Let’s find out why.
Since 2007 I have been working and devising updated tools and techniques for network marketers to vouch for a smooth ride towards their goal. Even after trying hard for it, many beginners in network marketing fail to make it a successful venture or quit due to multiple reasons.
There may be multiple factors behind the failure of a network marketer. Here are the 5 big reasons of failure explained in detail:
1. Unrealistic expectations
Please don’t be mistaken, it’s not a lottery, or convenient shopping experience, or a hobby that needs a weekly nurturing to grow. By investing less of their time and expecting extravagant results is what they are mistaking at.
Even if you start a new business, office or shop, usually it is considered that it will take at least 1-2 years’ time. But with #NetworkMarketing, people are too impatient to even wait for 3-6 months. They simply seem to expect unrealistic results, which are too far from reality.
2. Zero Entry Cost
The biggest strength of this business is also its biggest drawback, i.e. the cost to start this business is almost negligible. You simply shop a few products and you become a customer, which you would have bought anyway for your daily consumption. Now, if you like the products, you become a distributor and the chain begin to multiply.
Remember, you are still far from owning the business. Shopping can never make you an owner. Due to zero investment and zero commitment, they never do enough to expand their business, rather decide to quit after a period of time.
3. Lack of focus
95% of the people start network marketing as a part-time business. The reason is that they want to spend least of their time and expect maximum results. Network marketing comes much after profession, family, social life, etc., and becomes hard to flourish.
If you want your children to bear the fruits from the seed you are soaking today, don’t you think it needs immense effort, attention and nourishment like any other profession or entrepreneurship? Yes it does, but most who fail in network marketing skip this basic approach.
4. Zero Exit cost
It costs you nothing in terms of money if you want to quit this business anytime. Again a demotivating factor for those who do not want to invest much of their time, rather want to quit. Basically, it offers an easy escape to get rid of your business without any cost-penalty.
5. Unwilling to accept change
People are not willing to adapt the methods and systems of network marketing. They try to implement the same methods they know, irrespective of what this business requires. This negligence leads to major fall back and hinders the growth.
When I started out this business in 2007, working with a Multi-national Automobile Company the approach I implemented could not be the same while working in network marketing. Instead, it requires an all new approach to expand this business, for which many are not ready but I was. And that’s exactly what makes all the difference.
In fact in #NetworkMarketing, companies do not have any training set that is given to new associates. All they have is an ‘Upline’, a group of successful network marketers who could make it big. So they have a good example to showcase, and motivate others that if they could do it, you can do it too.
But that’s not all, it requires mindset, personality, emotional mastery, skill set, tool set to be successful in network marketing or any other business.
The tragedy is that leaders today are not result oriented, they are only concerned about increasing the count of programs they are conducting. They don’t want to invest on their skill set, which is the biggest reason behind the failure.
Over the years, and especially after social media has arrived, Network marketing has drastically changed in the past few months, which you need to learn about and grow with. New tools and techniques have revamped the possibilities and scenario of the business. Now, you have the power and influence of social media, online training programs and so much more.
You may also like: 5 Proven Methods to Motivate Your Network Marketing Team
Start to upgrade your approach, tools and mindset. The new-age leader should have all these qualities.
Stay open to dynamic changes of the trade, keep learning, and you will make your mark like no one else could ever make.
Your Success Partner,