Network Marketing. Direct selling. MLM. What
strikes a chord when you hear these expressions? Forceful, pushy sales reps? A
relative or companion you need to stay away from on the grounds that he can't
quit discussing his new business and all the great items his family adores?
The Network Marketing industry has allowed a large number of people to encounter what it resembles to work for themselves
without the surprising expenses customarily connected with standard physical
organizations.
Simultaneously, it isn't without its
depreciators. Top of the rundown is an oft-cited measurement that 95% of
Network Marketing falls flat and just 5% succeed. Type in "95%
disappointment rate arranges advertisers" in Google and you'll understand.
This measurement is regularly credited to the US Private company Organization.
Be that as it may, when I last checked the SBA site's FAQs, what it said was:
"66% of new business foundations get by at any rate two years, and 44
percent get by at any rate four years, as per an ongoing report. These outcomes
were comparable for various enterprises."
So
is this 95% figure a myth to convince you that the odds are stacked against the
network marketing newbie from the start?
And
if there is some basis for the claim that an overwhelming majority fail at
network marketing, what are the possible causes?
More importantly, what does this mean for you if you are considering an
opportunity with a network marketing company?
Judging
from the testimonials of those who have been disillusioned by the industry,
there are several possible reasons why an individual may fail:
1. He's with the wrong company. He's not wild about the products. When
people ask him what's great about the products, he can't quite explain it. The
compensation plan is not working for him. The monthly quota is not sustainable
in his present financial situation and is draining his resources. He finds
himself saddled with products he cannot finish consuming or cannot sell. He is
not getting the up line support he needs.
2. The company's Heavy Hitters practice the old-school philosophy of
Recruit-Recruit-Recruit, i.e. marketing by numbers. And he just happens to hate
selling and prospecting and cold calling. His network is limited. Soon he runs
out of leads. No leads mean no customers, and no customers mean no down
lines.
3. It's all about the money, and only about the money. He thinks network
marketing is his quick ticket to a life of leisure in a beach house in the Caribbean, with minimal effort on his part.
4. He doesn't treat his network marketing business as a real business. It's
like a part-time hobby which he fits in around his day job. But he expects real
results, and preferably a paycheck next month.
5. He has no long-term vision of what he wants to achieve with his
business. No mission statement. No 5- or 10-year plan. No SMART goals.
6. He lacks persistence (gives up before he sees results).
7. He is not willing to put in consistent effort over a period of time.
Is there a superior method to work together
with the goal
that you can make it to the top and really have a fabulous time
while arriving?
Indeed, however just in the event that you
change your
a frame of mind and quit fooling around about
your system advertising
business.
To start with, inquire as to whether this is
the correct vehicle for you. Not every person appreciates conversing with
individuals they don't have the foggiest idea. A few of us are normal
salespersons; some are definitely not. You have to know yourself and what your
qualities and inclinations are. You can't change your character to accommodate
your business since that is the center of what your identity is; you simply
need to figure out how to function with it.
Presently, on the off chance that you are
certain to network advertising is for you, or you are in any event open to
figuring out how to do it well, the subsequent stage is to choose which
organization to adjust yourself to. With such huge numbers of Network Marketing
organizations out there, how would you know which one is an ideal choice for
you? This calls for due constancy and a lot of legwork.
Best Practices for Serious Network Marketers
Network
marketing is a people business, not a sales business. It is about building
relationships and winning trust, not about recruiting numbers to boost your
down line. It's not even about the products. In the words of a network marketing
expert, Michael Doughy, "People join people. They don't join a company."
Michael is of the view that at least 85% of the population HATES being sold to.
Now if he is right, then the traditional heavy-hitting methods won't work; they
will only frighten off and alienate these people, leaving you with just 15% to
work with. Why would you start your business with the statistics against you?
Do
it the better way: put People First and Profits Second. Be generous with your
time and information. Don't worry about how and if it will lead to more sales
or more recruits. It will take longer to see results, but your efforts will pay
off. When people come to trust you and admire you so much that they want to
join your company because of you, you will have succeeded. Think about this.
You will have people coming to you without you having to chase or push anyone.
These people are keen to find out more about your business because you have
helped them in the past. They are attracted to you and the way you have been
building a relationship with them.
Now
think about it the other way. If your security is in numbers and your focus is
only on products or opportunity, where would you stand when your company
collapses or another company comes up with a superior product? On the other
hand, if people follow you, then if things don't work out with your company,
you can always move on to a new one and take your team with you. Now that is
true security!
Raise
your standards. Seek excellence, not short term financial gain. Want to build a
business that lasts? Then invest in personal excellence. Do more. Give more. Be
more. Work harder. Work smarter. Over-deliver. And do all this with integrity
and the interests of others at heart. Make it a point to learn something new
every day. Read books, listen to audio CDs, attend teleseminars by those who
have succeeded. Learn about success, self-improvement, positive thinking,
networking, sales, and marketing, developing people, building relationships.
Find a mentor. Be a mentor to someone else. Keep paying it forward. Keep a
journal so you can look back on your journey and marvel at all you've achieved.
Out of that consistent effort will flow new ways of thinking and seeing and
relating, ways that will add to your personal and business success and keep you
fresh and excited and positive about your life.
They
say the battle is won or lost in the mind. Shape your mind so that your
attitudes and actions will be consistent with success. Then, teach your down
lines how they can do the same. In time to come, you will find that your down
lines will start writing their own success stories by modeling themselves on
you and spreading the word about you. That is the true spirit of duplication,
having a system that works just as well with one person as with a thousand.
That is the true power of network marketing.
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