7 Reasons Why Mose People FAIL in their Network Marketing Business

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Published: 03rd April 2015
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1Are you struggling in your network marketing business?

Are things not working out the way you hoped or the way you were promised they would?

Have you run out of people to talk to and need more?

Well you are not aloneÖ

These are common themes as to why so many people fail in their network marketing business.

The Attraction of a Network Marketing Business

A good network marketing business gives an individual the opportunity that they have always dreamed of.
We see gurus and all these success stories, have tried thousands of different techniques in search of the secret, spend hundreds of dollars on extra leads, and buy every book we find, yet most find themselves sulking and dwelling in how their network marketing business just hasnít taken off.

I am going to go over the 7 main reasons people fail in their network marketing business and what you can do to get over that hump.

You are in sales and marketing

When we invite people to join our network marketing business, we ourselves need to realize that we are in a sales and marketing business.

It is an unfortunate reality to many when they finally come to the realization that by signing up for a network marketing business they have signed up for a sales and marketing opportunity

The Problem:

Ö. The majority of people have no marketing or sales background

Ö. Most people donít even realize thatís what they are actually doing until months of struggle and financially dipping into the red.

No matter what your product or service THE PRODUCT WILL NOT SELL ITSELF

You need an easy way to guide these people into sales and marketing superstars.

So be aware of the industry you are in when trying to grow your network marketing business.

#1 The first major reason people struggle in their network marketing business is:

The have joined the wrong company for the wrong reasons. Many people that get involved in a network marketing business sign up for emotional reasons.

-People buy things or sign up typically because of emotions. Realizing this could discourage you or it could help make you aware of the reason your business hasnít grown

Some bait people use to get you in are things like:

The spillover opportunity
ĒJoin under me and youíll benefit from all the hardwork I doĒ Now for some this is true but unless you take responsibility in your network marketing business you arenít going anywhere.

Superstar endorsements
-Our company is going to the moon because some superstar endorsement. This is still your personal network marketing business and unless this person is speaking on your behalf youíre going to need to grow it yourself

Low cost entry
-The low entry and promise of easy money entices people but typically it can entice the wrong type of people.
Your network marketing business can be attractive to lazy people that arenít truly willing to put in some work, especially evident in companies that do not involve auto ship or the opportunity of residual income

Friend or family favor
-A family member or friend joined as a favor. They wanted to help out.
80% of people join from a warm market but a lot of people simply join not caring about the compensation plan, company or product

Go back in and pencil out a business plan and a marketing plan for your network marketing company business products and services. If you cant do that chances are you probably joined for emotional reasons.

#2 The second reason most people donít make any money with their network marketing business is:

The compensation plan has NO ROOM for a MARKETING BUDGET
People will eventually run out of people they know. You will run out of people to expose the opportunity to in a warm market that know, like and trust them.

The easiest way to solve this problem is through advertising and marketing.

This has a cost.

Unless your compensation plan has the opportunity to give you $100 to enroll people into your network marketing business; $200, $300 options etc. you donít have the right marketing plan.
If your network marketing business does; then you have the opportunity to take it to the moon because you can afford to market and advertise.

#3 The third reason people arenít successful with their network marketing business:

They have a lack of recruiting and marketing skills.

Recruiting is sponsoring.

Recruiting is knowing what to say and how to say it.

There is a particular skill in knowing what to say and how to say it. Hard selling doesnít work like it used to because there are just too many options and people just donít have to put up with it anymore

In sales today it isnít about selling or pitching it is simply about presenting. Instead of trying to sell someone on your network marketing business you must learn to present it in a way that they sell themselves.

Let your product or service be an answer to someoneís problem or issue they are having.

People join your network marketing business because of YOU. They learn to know you, like you and trust you. You are the leader that will help them fight whatever predicament they have come across.

#4 The fourth:

People have No Cash Flow

It has been stated that if the average American had 500 more dollars in their bank account that 70% of those whom commit bankruptcy wouldnít have to and that they would even be able to emerge from debt.

Jim Rohn relates this to Too much month at the end of the money

Unless you can show people on your team how to get into cash flow immediately, not 60 not 90 days but within 30 days then many will quit, because of a lack of a plan to action. If you can they will stay in your business FOREVER.

Learn to create and market FUNDED PROPOSALS so you get paid even when people donít join your team.

E.g. being an affiliate of a lead system were you get paid simply by referring the product or service to someone else.

#5 And the fifth:

High Attrition Rate

Would people buy your product in the open market if there was no opportunity or promise to get paid doing so.

If you wouldnít buy the product or service without the compensation plan; chances are you are going to have a high attrition rate. Meaning having more people leave your business than people joining.

#6 And one of the most important reasons why people donít succeed in their network marketing business:

Lack of Leads

The name of the game in your network marketing business is the more you tell the more you sell.

The more people you can expose to your opportunity and the more you can direct to your system then the more money you will make.

#7 Lastly:

A Crappy system or No System at all

If your business isnít duplicatable then you will not have a life. If you are in management mode you will be doing way more work then what you got into your network marketing business for.

You will end up spending your life on calls without a good system

The goal is having a system to sponsor tens of people a month without you having to personally talk to anyone.

Be the best you can be in your network marketing business

These are all things that I have learned through personal experience and from interviews from the top income earners in multiple network marketing business and also the leaders of in the internet marketing niche.

Something to note is that what works in internet marketing are also the same things that work in network marketing; vice versa.

Remember, people do not buy a compensation plan they buy you. People are looking to be led.
If you are interested in working with me personally watch

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