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Why People Fail In Network Marketing/MLM
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Network marketing/MLM isn't for everybody. While some people swear by MLM/network marketing, others simply swear! Regardless of how YOU feel, however, let’s take a moment to clear the air. ALL major business organizations, regardless of what product or service they sell... are Multi-Level Marketing organizations! Virtually ALL types of organizations, from sales organizations, to the military, to athletic teams, to the federal government itself are inherently "multi-level." They HAVE to be in order to preserve a chain of command and a smooth flow of duties and responsibilities. You see, there are several levels of responsibility, and that certainly sounds "multi-level" to ME! Why do so many people fail in network marketing and why do so many still struggle to "make it"? This industry is filled with tons of hype and B.S. about how you can make a bunch of money by sitting on the couch or on a beach somewhere, but it isn't that easy now is it. ;) By the time you get to the end of this article you will be left in no doubt as to why people fail in network marketing, what it takes to succeed in network marketing, and whether this business is for you. Moving on... To begin with, the concept behind network marketing is simple. Sharing - through product or business philosophy - is the basis of network marketing. Network marketing is a multi-billion pound industry involving millions of independent business people around the globe. Network marketing is a 'BIG' small business, which offers everyone, with or without business experience, the opportunity to start and run a home-based business. It is the last frontier where 'the little guy', (people like you and me) can make it BIG. NETWORK MARKETING Vs TRADITIONAL MARKETING The traditional way of marketing products is to move them from a manufacturer through a network of middlemen. National Wholesalers, regional wholesalers, Cash & Carry warehouses, retailers, - the 'middlemen' - all add their 'valueless' percentage to the price of the product. By the time the product or service reaches you, the end user, you're not only paying for the product, but a percentage of the price for each and every middleman in the network. In network marketing there are no middlemen. Instead of paying them, a network marketing company will pay you for whatever amount of product you cause to be 'moved'. As a sole individual operating alone, the amount of product or service provision you could 'move' from your own efforts, would be relatively small. In network marketing however, the amount you 'caused' to be moved indirectly could be HUGE. Here then is the essence of a network marketing compensation plan. For not only will you be compensated for the product or service provision you personally cause to be moved from your own direct efforts, you will also receive indirect compensation for the product or service provision that your 'organisation' 'causes' to be moved. YOUR 'ORGANISATION' To be successful in network marketing you will need to build an 'organisation'. That is to say you will need to 'share' the benefits of both the products/service provision and the business opportunity with others. In network marketing this is referred to as your 'downline'. The 'serious' money to be had in network marketing is to be had from what is termed as 'over-ride' commissions from the 'movement' of product or service provision from the 'downline' your 'sponsor' will help you to build. (In network marketing it is the responsibility of your introducing 'sponsor' to help you build your 'downline'.) All you need to do initially to build a 'downline' is to 'share' with others the information about the products or service provision and the business opportunity on offer. Theoretically, if after 'sharing' the information with others and you subsequently attracted just five SERIOUS individuals who decided to join you in your network marketing business - for illustration purposes only - your 'downline' could equate to the following after five levels of geometric growth: You You sponsor just 5 SERIOUS people into your business. Your level 1 = 5 They duplicate your efforts and each sponsor 5 SERIOUS people. Your level 2 = 25 These 16 duplicate your efforts and each sponsor 5 SERIOUS people. Your level 3 = 125 These 125 duplicate your efforts and each sponsor 5 SERIOUS people. A little arithmetic will tell you that's theoretically a total of 3,905 people on your fifth level. AN UNLIMITED INCOME POTENTIAL Imagine the power of a business-building plan that would pay you an agreed 'over-ride' commission on each product or service provision 'moved' by each and every one of those 3,905 potential distributors in your downline. Network marketing then is about a LOT of people 'moving' a little product. The more people you introduce, the greater your income potential. Notice that I said SERIOUS people. You may find that you have to introduce 20, 30 or even 50 new distributors before you find a person who Gets SERIOUS about the business. If you want to toss aside the potential earnings on offer as being ridiculous or impossible - DON'T. I personally have met people who are earning $5,000 to $50,000 per month (yes per month) from network marketing for part-time effort. Though the majority of networkers earn hundreds rather than many thousands per month, (most working part-time) it must be understood then that if you are to make serious income, you must put in serious effort. No free lunches here! The professionals in Network Marketing (those that earn HUGE incomes) recognise that to become successful you must "go through the numbers". That is, sort through lots and lots of people until you find those people who get SERIOUS about the business. Here's an example of "going through the numbers": You may have heard of Bill Britt, one of the most successful network marketing distributors ever. Some years ago, 20/20 did a feature story on the network marketing company he worked with. They spent 19 minutes interviewing distributors who had failed and showed the garages full of products they couldn't sell. During the last minute of the show, Mr. Britt was interviewed in front of his palatial home. He was asked, "Mr. Britt, this business has obviously worked for you. What's your secret?" He replied, "There is no secret. I simply showed the plan to 1200 people. 900 said, 'No.' and only 300 signed up. Out of those 300, only 85 did anything at all. Out of those 85 only 35 were serious, and out of those 35, 11 made me a millionaire." Like all successful networkers Bill worked through the numbers. ANY business is a numbers game, plain and simple! Ever heard of Colonel sanders? No? Then I'm sure you WILL have heard of KFC... as in Kentucky Fried Chicken! Did you know that Colonel Sanders the founder of KFC approached over 1,600 prospective outlets for his now famous recipe before getting to a single "yes". Now that's what I call persistance! As Calvin Coolidge US president once said: "Nothing in the world can take the place of persistance. Talent will not - Nothing is as more common than the unsuccessful man with talent. Genius will not - The unrewarded Genius is almost a proverb. Education will not - The world is full of educated derelicts. Persistance and persistance alone is Omnipotent." So, you don't need to be talented, you don't need to be a genius, and you don't need to be *educated to succeed in this Industry. All you need to be is persistant. * (Though I suppose it would help if you could read and write.) Moving swiftly on... There are two prongs to earning in Network marketing. First, is, of course, building a ´down line´. But remember, a large organization of people who do NOTHING other than sponsoring others, earns NOTHING! Second is, BALANCE and CONSISTENCY. Spend some time building your organization yes, but also spend time PROMOTING your products/services to others and use the products/services yourself! HOW DO YOU CONVINCE PEOPLE TO JOIN YOUR BUSINESS? The simple answer is you DON'T. You don't want those who need to be convinced. You want those who convince themselves. If they are TRULY looking for a way to become successful (assuming the network marketing company you are working with is offering a QUALITY product or service) then they'll come to you to go after it. The key to achieving success in network marketing is NOT to be had by convincing people, but by helping those (SERIOUS) people who want to become successful themselves. Neither do you want to attract those who "NEED" the opportunity you are offering. You need to attract those who "WANT" the opportunity you are offering. Our society is full of "Needers". The "Wanters" are about as rare as hens teeth! There's an old saying in network marketing: "Amateur Networkers sort for needers. Professionals sort for leaders". And THAT is precisely what you should be looking for...Leaders. Those who get SERIOUS about the business. The single most important factor of building a large organization is the quality of the people you sponsor. What type of people do you think will build your business faster ... Needers or Leaders? The biggest Reason why people FAIL in Network Marketing is NOT because they don't want residual income, it's because they're NOT prepared to put in the necessary effort to "go through the numbers". No one is going to say "No. I don't want extra $5000 per month in residual income." They say NO to what they have to do to get it! WHERE DO I FIND PEOPLE TO JOIN ME IN MY BUSINESS Who do you know who would welcome an extra stream of income? Friends, family, people you come into contact with every day would be a good starting point. (If the opportunity you're offering is so darn good why WOULDN'T you want to share it with your friends and family hmmm??) As it has been estimated that 20% of the working population - MILLIONS of people - would be interested in starting their own business, the marketplace in the USA alone is truly enormous. When you take into account that many network marketing companies operate on a GLOBAL basis the potential for growth is quite staggering. With a recent MORI poll indicating that 50% of 16 - 25 year olds were interested in starting their own business, the marketplace is actually growing! One of the most important things to recognise is that the most precious resource available to you is in the new blood - the millions of business opportunity seekers who are not presently involved in networking. For it is there that you will find the success stories of tomorrow for your downline organisation. CHOOSE THE RIGHT COMPANY In any successful business it is the quality of the product or service that is being offered that is the single most important aspect for its success. The most lucrative compensation plan in the world will NOT provide you with an on-going residual income if the product or service doesn't provide tangible value and benefits for yourself and your customers. Provide a product or service that people need, want, coupled with a business opportunity they are willing to tell their friends about, and you can build yourself a business empire in network marketing! TIPS FOR THE TOP? Tip# 1/ If you're already involved in a network marketing program and you're being 'sold' primarily on the benefits of the compensation plan with the product or service being offered as a secondary consideration, then read the above paragraph again and MOVE to a company whose products or services 'move'. Tip# 2/ Ask yourself this important question: Is the network marketing programme I'm considering joining one that I'm willing to share with my friends and family? The comment "I don't want my friends and family to know what I'm doing, l want to become successful FIRST - then I'll introduce them!!" is almost legendary in network marketing. (A comment oftimes made by failed networkers who had no real belief in the company or the products they were promoting in the first place!) If you immediately feel comfortable with the prospect of letting your neighbors, your friends and your family know about the network programm you're considering joining, have belief in the company and its products/service provision, have confidence in your introducing sponsor, then you have probably chosen the right company to work with. Tip# 3/ Don't be impatient by expecting things to happen overnight! Building a moderately productive downline in any network marketing programm takes TIME - many months not many weeks. Tip# 4/ Read tip 3 again and avoid like the plague any company which suggests otherwise or does not require you to invest in the development of a distributor base. If your prospective sponsor in the network marketing program you're being invited to join doesn't stipulate that it takes TIME to build a significantly productive downline then it's not a business your being invited to join but a game - and one you're bound to lose! Tip# 5/ If you want to dine with the classes - deal in products or services wanted by the masses! TO SUM UP Network marketing isn't for everybody. While some people swear by network marketing, others simply swear! (Read tip No. 2 again to find out why). To succeed in network marketing you will need determination, commitment, persistance, enthusiasm and most importantly - a burning desire for success. If you believe you have those qualities get back to the person who provided you with the details of their network marketing opportunity today. Watch this TREMENDOUSLY Enlightening video from Robert Kiyosaki, author of "Rich Dad, Poor Dad" and you'll never look at the world through the eyes of a "wage slave" ever again. Here's the link: http://www.123system.com/kiyosaki/ Have you heard?... * 70% of all North Americans say they're carrying so much debt, that their home life is unhappy. * #1 resolution this year is getting out of debt - overtaking weight loss for the first time. * Personal bankruptcies totaled 1.7 million, and is climbing. * The average North American spends $1.05 for every $1 earned. * 95% of Americans will retire broke and at or below the poverty level. * Primary causes behind bankruptcies: job loss, family break-up, and medical reasons. If you have tried Network Marketing before and failed, you probably chose the wrong company, the wrong sponsor, or the wrong product. You now have a choice... You can either keep on doing what you've always been doing in which case you will keep on getting what you've always got OR you can get back to the person who provided you with the details of their network marketing opportunity today. Your call. Yours in success, Kevin Quigley. P.S. If you've enjoyed this article, please be sure to forward it to a friend. About the Author: Kevin Quigley is a Leading Independent Distributor for the Internationally acclaimed Direct Sales Group - MyWorldPLUS. Free to join, Independent Distributors wanted Worldwide. For more details Watch the Movie here: http://bizzyman.MyWorldMovie.com/?SOURCE=artaps Or visit: http://www.kevinquigley.homestead.com/ You have my full permission to feature/distribute this article provided it is published in its entirety. |
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This blog does not match any question.Comments (16)
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| Your article was great, but I wasn't going to comment until I got to #5 "If you want to dine with the classes - deal in products or services wanted by the masses!". That says it all. If you have a following that your interest exclusive product or service will appease, then you are fine. If you do, then you limit your earning potential.
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| Kevin, Very good article, gives you plain facts about Network marketing. To me the main reason people don't make it in Network marketing is because it requires a lot of the time self improvement and lets face it. Some people don't like to change. It requires commitment and a get going attitude and a positive attitude, successful people in Network marketing are leaders, and trainers that someone would follow and do what is required of them. Another reason why they don't succeed is they just plain quit sometimes right before success around the corner. Even after all that Network Marketing is bigger then ever more and more people are seeing that it really is the better way to make money. Thanks for the Article Kevin by the way most of your links did not work sorry Dave www.essanteworldwide/funpopbiz. The Power to live...The Power to Change |
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| My First Website http://nathanramsey2.googlepages.com/freeresponsiveglobaladvertising |
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| Hi Kevin
Kevin this is a great article and I am sharing it with prospective downline members to my opportunities. I would rather have less downline members and a higher percentage of motivated people. I have found it easy to build big downlines, but now I am making it harder for people to join so I only get really motivated members. Kevin reading this article is one of the tasks I set prospective downline members. I also ask them to read; How To Achieve Success With TSC 2000 Europe? http://www.tattslotto.love-au.com/ My favorite communities and traffic programs http://www.networking.love-au.com/ |
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| Excellent article Kevin, with plenty of good advice
. I think I'm lucky, in that the business I have joined has integrity. We are advised that it will take time, and to help your affiliates to build their networks. There is plenty of help available, unlike many of these businesses, which only want your money. WolfWood MyInstantBiz |
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| A good Network Marketing opportunity must absolutely offer a valuable product or service. However it is of equal importance that the business is duplicatable, and has a truly rewarding compensation plan. All three of these aspects are equally important. |
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| No matter in what busines you are, if you want to be successfull you have to work hard,yhe main advantage with mlm is they did the thinking for you, if you duplicate all the time an d teach your downline to do the same, you can make substantial amounts of money. |
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| Very good detai provided and thanks for the same.
Everyone is for money and will be happy when it is FREE. http://www.zhakkas.com/affiliates/idevaffi |
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| Your tips to most of people who are already making business is really a good guide, I with a not so good English can understand them (I guess) You probably have a very successful business , is it possible that you guide people step by step on something that they will earn . http://cash-4-all.blogspot.com easy-internet-money.info loan-money-invest.info sex-4u.info |
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| Network market is the best in history for homebasebusinesses. It like Paul Ghetto he has a rather have 1 percent of hundred people efforts that 100 percent of mines...I know this day I can say I make more money residual that me what part on weekend job 16 hours...If i get sick I still will alway have a check. I love mlm ...I am going into another one as long it doesn't relate what I am already doing. I have passion for my business, I love what i am selling. I love changing people life. I don;t focus on the money it is going to come anyway... People will join with you if they know that you care...Not what you have to sell them.. MLM change my family life and I give it all to my business. www.rr.acnrep.com
Roslyn J Beaumont 774-826-7904 www.rr.acnrep.com |
