The reason most people fail in network marketing is pretty simple to figure out. Many have asked me why I believe people fail and here are my 4 top reasons for failure in a $120 Billion Dollar Industry.
Lack of Money
People simply aren't willing to make a financial commitment to their business. If you don't have a budget your business will suffer. Thankfully network marketing is way cheaper to support and get off the ground than a traditional business, but if you can't afford the bare minimum for at least a few months, while you are building your business, probably best to not join and go get a job.
Lack of True effective action or any action at all
I read a report recently where 1200 network marketers were interviewed. In the survey they found that millionaire networkers were making 50 phone calls per day, successful networkers were making around 20 phone calls per day, and average networkers were making less than 10. If you're aren't prospecting you have virtually no chance to make any money in network marketing as outside of retailing that is the only way we get paid.
Not having a steady flow of people to talk to You're either cold calling, purchasing leads, contacting your warm market, or using attraction marketing to get targeted prospects to speak to daily. If you don't have people to talk to - you can't really build a business. Working with a leader who knows how to generate leads consistently is important to your success.
Lack of training and underdeveloped skills You must develop some skill-set to do network marketing, fortunately if you can make the dials and get over your fear of rejection, use 3rd part tools and not try to close your prospects you are 80% there. Nobody likes to be closed here, that may work for timeshare sales or car sales, but it won't get you very far in network marketing, especially since we are dependent upon others taking action to duplicate US. The other skill-set you need to develop will come in time through leadership, and personal development to become a bigger better more attractive business person. Your business will always grow in accordance to how much you grow. Network Marketing should be easy and fun, but people are people, so you do need to develop some skills to be successful in network marketing. Starting out you need to simply just talk to people and use 3rd party tools to do the heavy lifting for you
- SOME WILL, SOME WON'T, SO WHAT - WHO'S NEXT.
