7 Reasons People Fail In Network Marketing
When you first join a network marketing business it can be rather exciting and intimidating at the same time. People often get-go into network marketing with expectations of financial freedom.
Me personally I wanted to be more comfortable and not have to just rely only on a job as my only income. For me, it’s about expanding my income and growing my portfolio.
People have all of these ideas in their minds about what network marketing is and what it can do for them. When they don’t succeed right away it’s a huge letdown and there ready to throw in the towel.
What Is The Percentage of People Who Fail Network Marketing?
The amount of people who fail network marketing is pretty high. I believe it’s around 98% fail and 70% quit within the first three months. Very few people make it in network marketing.
It’s a sad reality because it is a legitimate profession to be in that can really change lives if done the right way.
Is It Because Network Marketing Is A Scam?
Network marketing is not a scam it is a legitimate profession and business model. But that depends on a few things, you do need to be aware of scams out there disguised as network marketing.
Network marketing there are products or services involved, and a real system in place. With pyramid schemes they are illegal and they rob people of their money.
There’s usually no product or service involved, you’re expected to recruit people for money. It’s just about the money and sucking and leeching off people dry.
What Is Network Marketing?
Network marketing is basically where a company has a product or service and instead of spending a tremendous amount on advertising they use word of mouth marketing.
They have independent distributors who sell the company’s goods and services. This can be done in many ways, either face to face, over the phone, through marketing tools and in any way possible.
The distributors have the option to recruit other distributors and build a team and earn a commission.
Who Is Network Marketing For?
I think networking is best for those who may want to be an entrepreneur but may not have millions or thousands of dollars to start with and to open up a business.
If you do like the idea of sales and earning commissions over wages then this business is definitely for you. If you like the idea of being your own boss then this business is definitely for.
What Are Some Of The Benefits Of Network Marketing?
Some of the benefits that do come with network marketing are that everything is on your terms. The tax benefit, time freedom and choosing when you want to work is a huge reason people get involved in network marketing.
With network marketing your not sitting in a cubicle all day with a bunch of paperwork to go through. It’s not like a regular 9-5, which is what a lot of people may be used to.
If you put in the time and effort and not just work hard but work smart in network marketing you will succeed.
People do oftentimes get to sort of roadblock in network marketing here is way some reasons why…
7 Reasons People Fail In Network Marketing
Lack of Commitment
Lack of commitment can oftentimes lead to failure in any area of life. When you start out in network marketing with a lack of commitment it’s really no different you will fail.
Also, you do have those people who might have been committed in the beginning but then they fall off the right path do to a lack of focus. It’s really about how committed you are.
Targeting The Wrong Market
Having a targeted audience to promote your business to is very important to your success in network marketing. Often times people get stuck into this constant cycle of chasing after people and doing meets with people that don’t give a damn about their business.
When you find smart ways to promote your business to the right people you wouldn’t have to waste your time talking to all the wrong people.
I think that talking to the wrong people is a big reason network marketers fail.
If your going to be in this business consistency is key in how you approach things. If you are not consistent then your business wouldn’t grow, and in order for your business to grow and become successful, you need focus.
Often times people treat their network marketing business as a hobby, so they only work at it when they feel like it. Their business ends up suffering and they don’t progress in their business they way the would like.
Lack Of Direction
When you start a networking marketing business usually your upline is supposed to help you along the way. If you can take direction well you can get off to a good start.
A lot of the time most people don’t really know what they are doing in the beginning so they just do what their upline tells them to do. Bad direction is also a reason I believe a lot of people fail in network marketing.
Sometimes the direction you get from your inner circle is not enough for you to be successful.
Bad Communication Skills
Let’s face it people don’t know how to communicate sometimes. I know for me personally, in the beginning, it was hard for me to communicate with prospects but that was due to a lack of knowledge and experience.
In any business, you need to know how to communicate and get all of your points across. People may not always receive it the best way but as long as your honest and know what you want you’ll do well.
Their Heart Isn’t Into It
Sometimes people’s heart isn’t into it. They sometimes only joined a network marketing business because their friends or family members did. Or because they were pressured into doing so.
They have to really want to do it and have an interest in doing network marketing in order to really be successful at it. People end up dropping out after the first few months because they can’t handle it.
Lack of Patience
A lack of patience sometimes can contribute to why people fail in network marketing. People want instant results and to make money right away and that doesn’t always happen for a lot of people.
Some people are able to get results and make money right away it may not be a lot of money but they are able to see some money coming in. I know for a lot of people including myself that isn’t the case.
This business does require patience and a willingness to understand you may not make money right away so don’t going quitting your job. It is a process.
Is there a way to combat the number of people failing in network marketing?
Absolutely! There is a better way you can do it by leveraging a system using the internet.
In the modern age that we live in you should have some type of online presence when your doing network marketing. You don’t want to be behind using outdated network marketing methods to grow your business.
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