So you’re thinking about joining an MLM business. You’re enticed by the idea of being your own boss, of owning your own enterprise, and you’ve found a company that offers a product that you’re truly excited about. What you’re not prepared for, however, is all the negative remarks and criticism you receive when do research on MLM or when you hear stories from those who have failed at their own network marketing endeavor. Instead of taking their word for it, let’s put some thought into this and ask the important question: why do people fail at their MLM business?
In the video clip below, the Bluesman of MLM seeks to uncover the truth about the MLM industry and its participants. What are the reasons that people fail? Watch below for some insight into this ponderance.
Why do People Fail?
Among all of the people that join a network marketing company, only few rise to the top to succeed. It must be luck. Or timing. Or could it be that they treated their business like a full-time job, they worked hard, they learned new skills and got creative with their marketing campaigns? If we can understand the reasons why some people fail and some succeed, we’ll be able to avoid pitfalls and negative attitudes. But why do people fail and what are the reasons for this failure?
It’s a Mountain, Not a Molehill
The first reason that people have trouble with MLM is because they need to adjust their mindset. MLM is a business and it needs to be treated like a business. Microsoft wasn’t built on luck or hope; it wasn’t built because the founders listened to the nagging, discouraging thoughts that lurked in their minds; and it didn’t become an empire overnight. Think of new companies like budding plants. A lot of factors need to be in sync in order for that plant to grow: they need a lot of nurture, sunlight, and the perfect amount of water in order to sprout. MLM industry leaders say the same; their business didn’t shoot up from the dirt without any input. They didn’t become successful by sitting and not doing.
Here’s the good news: hard work can be fun, especially if we’re passionate about the product we’re selling. And because we put in time and effort to build a company, the rewards will be all the better for it, because we earned them. More good news: the overhead costs of joining an MLM company are typically low. But remember, as the Bluesman of MLM says, don’t treat the business based on the amount of money spent upfront, treat it like a million dollar business. High expectations should yield hard work, not low output.
The Bridge to Success
The second reason that people fail at MLM is because they don’t put the time into generating new leads, they rely on their pre-determined list of friends and relatives to grow their business. It takes time and practice to learn the skills required to communicate effectively and to be able to recognize a target market and go after it.
Think of the required skill set as the bridge to success. The more we learn the skills, the closer we are to crossing the bridge and reaching our goals. Prospecting, recruiting, building contact lists, communication and presentation skills are all important skills that will move us along on the bridge.
Change your mindset, change your game. If we continually listen to those that have failed, or quit their MLM business, we’ll constantly be looking for pitfalls and expecting ourselves to succumb to failure. Instead let’s shed some new light on the perspective: MLM is filled with possibilities, and like everything in life, the harder we work, the more we’ll achieve. Ask yourself the question: why do people fail at MLM? Why do people succeed and what can I do to rise above?