1. They don’t have a clear vision and a plan for how to get to their goals
Having a clear vision of want you want to achieve is essential in any business, as that allows you to establish what you need to earn and then reverse-engineer your business to deliver it. The beauty of network marketing is that reverse engineering is generally so simple. A prescribed marketing plan allows you to work out what size and structure your business needs to be to give you a set level of income.Without a crystal-clear vision of the future you want, it is very difficult to plan and build the business to give it to you.
2. Network marketers tend to over-complicate things
Business is simple – it is us that complicate it. Network marketing is even more simple as so many have succeeded using a system that works. Just like in traditional business, a straightforward systemised approach is always the best wayThe basics, the fundamentals, of a good network marketing business are incredibly simple:1. Talk to people (connect with people on the phone, online, in person)2. Share information with them (company presentation, audio, video, in person)3. Start them as customers or business partners or get referrals from themIt is those who stick to these basics and do not try to reinvent the wheel that will succeed. Remember: KISS – Keep It Simple Stupid!
3. They don’t undertake training and courses in marketing and business building
Many people in MLM spend a lot of time learning all about the product or service that they offer but they do not invest the time and money to learn how to market themselves and how to build a business that works. Again, as in other businesses it is essential to learn how to monetise an area of expertise. So with MLM it is essential to learn the basic principles of marketing and business skills – just simply “loving the product” is not always enough!
4. They don’t do income producing activities
It is very easy to fool ourselves that we are working hard on our network marketing business when we are designing our third new flyer in 6 months, or spamming random messages to random people on Facebook, but people often do these things when they are putting off doing the things that will genuinely build their business and produce income.This is not unique to MLM of course! Throughout my career I have seen people struggle in business because they get bogged down in “stuff” rather than concentrating on monetising their expertise and producing income.A good rule is to constantly ask yourself the question posed by Olympic rowing champion, Ben Hunt-Davis: “Will it make the boat go faster?”
5. They don’t build a relationship with their prospects
As with all business, but perhaps more so with network marketing, people buy from people that they like! That’s another fundamental… People will buy from you if they believe, often on a subconscious level, that you have taken the time to understand them, their pain points and their desires, their goals and their aspirations. And that can only happen if you have taken them time to get to know them and form a relationship. The endless spamming on social media and in the physical world that many amateur network marketers can be guilty of does very little for their own business and actually does considerable harm to the image of the industry as a whole.So those are just a few of the reasons, as I see them, why network marketers can fail, even if they are with a good, sound, creditable company. This list is by no means exclusive – there are many others reasons that I could cite – and I would not even say that these are necessarily my top 5.