If you talk with several people about your network marketing business, you have heard from time to time a person say “I heard these things don’t work” or “I was told by someone that they lost a lot of money in this type of business”.
Now it is true that many people get involved in network marketing, and fail. They make nothing. But let’s be honest about something. If they have given up in a short time because they had got no results, then the only failure in it was themselves. The successful will find a way to succeed, and the non successful will find an excuse.
So today, I want to share with you why so many fail in network marketing, and how you can avoid the same mistakes they make. I believe after you have read this entire blog, you will fully understand why they fail, and with that you can avoid the same path of destruction in your own business.
The Painful Reality
The painful reality of why so many people fail in network marketing, is the fact they do not speak to nearly enough people about their business. They are told “No” by their best friend and a cousin, and quickly go into believing they made a mistake in trying. That can be the fall of several people, trapping them into basically pulling out and letting their dreams fade away into dust.
Of every successful person in network marketing, the one thing they all have in common, is they talk to a massive amount of people. Either directly or indirectly, they know the magic is in the reach of people. How to reach those massive amounts of people is a lesson of it’s own and I share tons of ways to do so on this blog.
Check out this statistic on network marketers and the amount of people they speak to:
easily increase the number of prospects you speak to everyday by watching this video
Are You Saying To Much To Your Prospect?
If not speaking to enough people is not a large enough reason why so many network marketers fail, then adding another factor to it will explain the increase and frustration of so many.
That is of course is they say too much to the very few people they do prospect. Or they tend to tell too much to the large amount of people they prospect, and that will kill the momentum of the large number of prospects.
Successful network marketers say very little to a prospect and are able to keep their interest in “finding out” what is is they were told about. Simply asking a person if they are open to looking at a presentation is all that’s needed. There is no need to go into details and explain anything about the opportunity. They said they were open so focus the energy towards the presentation.
Let the tools do the work. Let your company’s presentation do the talking and exciting the prospects. By you trying to do it, you will find you get way less show ups when you call, and a lot of rejection.
Simply put, say less to more people.
See how this #1 recruiter got massive amounts of people to join his business
They Need To Learn More
A huge mistake many network marketers face, is they want to learn about prospecting for too long, resulting in taking no action at all. By wanting to know the answer to any question you can think that a prospect may ask, will result in you delaying calling prospects in case they ask that question.
It is important to know what you are talking about, but it’s also okay to not know the answer to a specific question. It is best to go about calling prospects more than to wait until you “feel ready” to do it. Because the truth is, you will never feel like you are ready until you actually begin doing the prospecting.
I have witnessed team members wait over a year to speak to anyone about their business because they thought of another question or something else they are not sure what the answer is. The best thing to do is proceed with prospecting, and if a question does come about and you do not know the answer, tell the prospect you do not know for sure and will ask someone about it. I have never had a person tell me they did not want to join because they came up with a question I did not know the right answer for. As a matter of fact, it made it seem more real and helped the prospect to realize, you can have success while still learning, just like myself.
Why So Many Fail In Network Marketing Overview
The basic point of why so many fail in network marketing is actually simple to understand. First off, most do not speak to enough people required to even get one sale or customer. When they do speak to people they usually say too much, and blow it. Then they either wait to speak to more until they learn every reply to every question that could possibly be thrown at them, or they never speak to anyone because they feel unready for it.
Bottom line, the first signup will be the hardest to get most likely. In the beginning, people do not join as fast as they will each time you get another new signup. It begins to build on itself and your downline or those you bring in, begin getting results. But getting to that point is where most people quit, and then blame the industry instead of their own actions (or lack of action).
So if you are thinking about getting into a new MLM business, or just trying to get the one you have now off to a moving start, avoid the mistakes mentioned above and you should surely see some success begin dribbling in.
If you got some value from this, please leave a comment and let me know. Feel free to share this with your team, or people who need to know why the failure rate is what it is.
P.S If you wish to have a system that will close new reps for you, then you may find this particular platform the right choice to build a MLM business with. I use it and I get new MLM signups every week without even speaking to them first. Try it out.