When it comes to Network Marketing, a lot of newbies make common mistakes that prevent them from making it in MLM. These mistakes lead to a lot of frustration and the eventual conclusion that Network Marketing doesn’t work or is not for them.
In this article, we are going to cover some of the common mistakes that newbies make in order to help you get a better chance of succeeding in this industry.
Why Do Most People Fail With Network Marketing?
Network Marketing or MLM, as it is sometimes called, has a lot of nuances that you need to understand if you are to make the most of it and actually succeed. Though it is a business, the model does not necessarily follow the traditional business layout.
In fact, the reason that MLM is so popular and has the potential to give you great results within a relatively short space of time is that it is a business in a box with a low start-up cost but a huge. It is the industry that is responsible for creating a lot of millionaires all around the world.
One of the things that is responsible for a business’ success or failure is the business systems. You need to have systems in place to ensure that every part of your business runs as smoothly as possible. With Network Marketing you get the product and business system all set up for you and all you need to do is follow them.
Most people fail in Network Marketing due to the fact that they want to reinvent the wheel instead of following the system laid out for them by the company. If you are part of a good company, the system that they give you to use for promotion has probably been tested for effectiveness and all the unnecessary parts of it removed.
The best companies will also give you tools to promote online and offline as well as a roadmap for how to do it effectively. If you follow the script, your chances of success are increased. Finally, you should never give up. Have a long term approach and you will be able to weather the challenges that do come along with the business.
Common Mistakes Newbie Network Marketers Make
Now, let’s look at the main reasons why people fail in Network Marketing. I will note straight away that these are in no specific order.
Promoting Multiple MLM Companies
The first mistake I will talk about is the one where people promote multiple companies at the same time. This is a big no-no. Building multiple businesses at the same time is never a good investment of your time. You can only succeed to build multiple mediocre businesses.
A mentor of mine told me once that people should associate you with something. What are you known for? The most successful network marketers brand themselves around the company they are promoting. That means that their social media is branded in such a way that everyone knows what they are about.
Their posts are mainly about the company they are promoting. You cannot do this if you are involved in more than one company. If people see you with this company today and then promoting another one tomorrow, they will not likely join your business.
Not Being Honest and Over Hyping an Opportunity
A major mistake that I see often is when people over hype an opportunity or product in a way that leads to disappointment when expectations are not met. You may succeed in getting the initial sale or getting someone to join but you will not be able to keep them in the business.
This will have a negative impact in the mid to long term besides the immediate gains. It also negatively impacts your reputation in the market and once you have a bad name, it is hard to get back from that.
Not Being Teachable
You need to be coachable. The best of the best in the business have mentors and follow their advice. Having a mentality that says I know it all will only lead to you spinning your wheels in one place without any significant progress.
You need to look for those who are at a level you want to be in your business and then follow their guidance. You do not need to reinvent the wheel. This is why we have created a training course called online marketing for network marketers this training is a great resource if you want to learn technics that we use in growing our MLM business.
Not Being Consistent
In this business, consistency is key. You need to go out each and every day making sure that you take the necessary steps needed to succeed. There is a saying that goes “inch by inch, it’s a synch but it’s hard by the yard”. In other words, don’t try to swallow an elephant in one go. Cut little pieces and in time, you will make great progress. The baby steps you take each day will put you far ahead in the long term.
Doing it Alone
Don’t be a lone wolf. This will not get you anywhere at all. Network Marketing and in order to get far, you need to work. I know it’s cliché but indeed, Together Everyone Achieves More. The big successes in Network Marketing are the best team players.
Not Targeting the Right Prospect
Don’t waste your efforts targeting everyone. This business isn’t for everyone. Target those people who are the best fit for your business. It is a good idea to learn different ways of targeted marketing such as using paid Facebook and Google Ads.
Selling Features Instead of Benefits
A rookie mistake with a lot of people in Network Marketing or any other sphere of sales, for that matter, is selling people on the features of a product instead of the benefits. Instead of telling someone that the car you are selling them won multiple awards in Europe, tell them instead that the safety features will protect their families in the case of an accident or that the car comes with a specialized seat belt made specifically for baby eats or to secure their pet in the car.
People care a lot less about what a product is than how it will benefit them and the ones they love. Remember this.
Not Following the System
Not following the system is another reason that people fail in MLM. The best companies invest a lot of money in creating a marketing system that will get results for the end-user. Don’t try and reinvest the wheel.
Use the system that the company provides and follow that religiously. When you have mastered it, you may think of adding on some unique ways of methods that complement the system.
Not Continually Learning
Always keep learning. Invest in yourself. Read books and take tutorials from people who have succeeded in MLM. Continue to develop and grow in your understanding of the industry. This responsibility lies squarely on your shoulders and no one else’s.
Lastly, never give up. MLM is hard and because it is, a lot of people give up too soon. Give yourself at least a year of consistent effort in your business and see if you will not reap the benefits. In other words, be in it for the long term.
Don’t just go a few months and give up. Be consistent and, sooner rather than later, you will see results. The best of the best in your industry have gone through the worst trials and overcome them. Now they are at the top of the hill for everyone to see.
Network Marketing is one of the best ways that can take you from where you are to living the life of your dreams. Avoid the mistakes that we’ve mentioned in this article and you’ll be well on your way to being a success in this industry.
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