In this post I am going to share with you exactly why people fail in network marketing and how you can make sure that you avoid these pitfalls and go on to become one of the incredible success stories that this industry creates.
There is no question that the failure rate in network marketing is high. But before I get into the exact reasons why this is, it is important for you to look at this topic in the proper light and keep it in context.
The reality is that the failure rate is actually not any higher in network marketing than it is in any other type of business. It simply appears this way because network marketing is such a popular and well-known business model.
More people have joined this industry and attempted to build a business than any other industry.
Everyone Knows Someone Who Tried Network Marketing
We all know at least 3 -5 people who have tried to build a network marketing business; if not a whole lot more.
I would wager that in fact it would actually be very hard to find someone who has not at the very least considered joining a network marketing company.
And because so many people have tried this business the failure rate has become a direct correlation to society in general.
The fact is that in society and life in general only a small percentage of people ever achieve success at anything worthwhile.
The rest of society simply is content to survive but never thrive. They are content to work their job for 40 years and than retire.
The cream rises to the top in everything worthwhile in life. Only the people with ambition and a determination to achieve greatness in any area of life go ahead and do so.
How Many People Join a Gym & Quit?
I always compare this business to getting into shape. Most everyone in our society has joined a gym at least once in their life. (if not countless times).
But guess what? Most of the population is out of shape. Why is this?
Why is the failure rate of getting in shape so high? Does going to the gym to get in shape not work? Why do so many people fail at it?
The answer is clear…
Of course going to the gym works (and so does network marketing).
The reason people don’t get into shape is simply because most people quit, they do not have the ambition, determination and commitment required to get into shape.
They do not want to put in the work that is required.
Being Comfortable is the Enemy of Success
Deep down they are content with how their life is. They are comfortable with the way things are. They would rather suffer the pain of not being in shape than the pain of doing what it takes to get into shape.
The same thing happens with network marketing or any other business opportunity for that matter. Most people simply do not want it bad enough.
It’s a tough pill to swallow for most people that their failure is their fault, it’s a hard reality but it is a fact.
OK I know that was some tough love. Believe me when I say it was not meant to point any fingers at anyone.
I can relate to all of what I just said. It was not until I realized that my success or lack of it was my own fault that I was finally able to buckle down and do what was required to start making things happen.
And you can do the exact same thing.
Success in network marketing is very possible for you. In fact I firmly believe it presents the greatest opportunity for everyday people to be able to create success. I do not believe there is a simpler business model on the planet.
The only way you can fail in this industry is if you quit.
Anyone who has desire, ambition, commitment and dedication can become a success in this industry, if they wish to! Yes it can take some time to figure it out. It can take some time to learn what is required. But if you wish to and you stick around you will make it happen.
Alright my Rant is Over!
Let’s take a deep dive into the top 8 reasons why people fail in network marketing and how you can avoid these mistakes and start creating the lifestyle of your dreams.
Reason #1 – They Don’t Treat it Like a Business
One of the big reasons why people fail in network marketing is they simply do not treat it like a business.
In fact they don’t even give their new business as much attention as they would a part-time hobby.
They join and figure what the heck, it only cost a couple hundred bucks to get started, I spend more than that on a good night on the town, what do I have to lose, I might as well give it a try.
They go ahead and tell a few of their closest friends and family members about it, those people say no to the opportunity and that is it the new entrepreneur is done.
They get discouraged, stop working the business and quit.
Whereas if they treated it like a real business there would be no stopping them.
If you spent thousands and thousands of dollars on either starting a traditional bricks and mortar business from the ground up or buying a franchise you would treat it like a business must be treated.
You would put the time in. You would do the work. You would not give up when a few people did not buy your product. You would be all in.
This is exactly what is required to become a success in network marketing.
Reason #2 – False Expectations
Most people come into network marketing with the wrong mindset. They have false expectations.
They believe success will be easy. They believe it will happen fast. Basically they believe it is a way to get-rich-quick. (reality check, get-rich-quick does not exist!)
As a result when reality sets in that it will take work, dedication and commitment they give up.
When they realize they are going to experience frustrations and have ups and downs on their journey to success they throw in the towel. They are out.
The fact is network marketing is one of the best opportunities on the planet for people to create wealth. And yes it can be done much quicker than most other businesses.
However it is going to take 12 – 48 months of dedicated and concentrated effort.
You have to put in the work if you want the results in anything in life, it is just the way it is!
Reason #3 – They Don’t Believe Success is Possible
There is a large percentage of the population that believe only the “special” people are able to achieve great success in life.
They don’t really believe that success is possible for them, and as a result they allow this subconscious self-defeating belief prevent them from ever even trying to do anything great with their lives.
The fact is that people from all walks of life have created great success in network marketing.
I can guarantee there is someone (if not many people) who was in the exact same situation as you are in and was able to become a massive success in this industry.
If they can do it you can too. If it’s been done before it can be done again.
However, if you have this self-defeating belief you are really going to have to dive deep into personal development and start reprogramming your subconscious mind to believe that success is possible for you.
All leaders in network marketing are committed to personal development, that is a clue!
Reason #4 – No Training
A major problem that I see occurring with people in network marketing and a big reason why people fail is they either do not take the time to get trained on how to build the business; or the team they join does not provide training.
This industry is 100% unique unto itself. There is no other business like it. The skills you acquired throughout your life are not the skills you need to be successful here.
You have to forget what you think you know about this business. You have to start with a clean slate and you need to learn the unique skills required to become successful.
Do not think you know it all. A big ego typically results in a small paycheck.
Take the time to go through your team training and training like what you will find on this blog.
Learn how to build the business correctly before you start trying to do so.
Now let me give you a little warning. Do not get stuck in analysis paralysis. Do not stay in learning mode for too long. Learn quickly and than get into action!
Many people trick themselves into thinking they are building the business when in fact they are simply reading blogs and watching videos on how to become successful. You must quickly get into action.
Reason #5 – They Reinvent the Wheel
You must be coachable. This goes hand in hand with what I said in reason #4, do not think you know it all.
Do not try to get all fancy and reinvent the wheel.
Success leaves clues. If you want to be successful find someone who has done what you want to do and simply do what they did.
Do not think you are the expert or know more than the people who have already become a success.
Do not try to come up with some “new” way of doing it. Be coachable, do what has already been proven to work.
Focus your efforts there and great things will happen for you.
Reason #6 – Fear
Fear = False Expectations Appearing Real
Fear has held countless people back from creating the life of their dreams. Do not allow fear to stop you from living the life you deserve.
Many people in this industry never achieve greatness because they are afraid of what other people will think of them.
They are afraid to ask people to look at an opportunity that can change their life.
Understand that yes many people are going to tell you that the opportunity is not for them. That is simply part of the deal. But also understand these people are not saying no to you. They are not rejecting you.
Your job is not to convince people to join your business opportunity or to buy your product.
Your job is to simply see if they are open to looking at it. If they are, just give them a link to a video presentation or website and let that tool do all of the selling for you.
There is nothing to fear about asking if someone is open to looking at an opportunity that can help them.
So do not let fear hold you back. Face the fear and do the activity anyway.
What you will quickly find is that the thing you were afraid of doing was nothing to be afraid of at all. It was just something you made up in your mind.
Reason #7 – No Ambition
This is a tough one and a major reason why people fail. Unfortunately there is nothing myself or anyone else can do for someone who does not have ambition.
The fact is that many people who join network marketing do so because they got excited for a minute; but that excitement quickly fades and they would rather go back to the comfort of their day to day lives.
Ambition is something that a person has or they don’t have. It is something a person has to figure out on their own. You can not give someone ambition.
Motivation is a different thing.
A person who has an ambition to succeed may lack motivation from time to time and that is OK and happens to most people.
Engaging in daily personal development is my recommendation to help you stay motivated and on track to reach your goals.
Reason #8 – They Don’t Talk to Enough People
Many people fail in network marketing because they do not fully grasp that their success in a numbers game.
The more people you approach to see if they are open to taking a look at an opportunity the more people will join or buy your products.
Most people talk to at most 10 – 30 people about their opportunity and that is it they are done.
Recruiting is the name of the game here. It is what we do. It is what you will do your whole career. It is not a one time thing or something you do for a short while and than just sit back and do nothing.
You need to set a goal of meeting a certain amount of people per day. I recommend a min of 5.
You will also need to set a goal of how many people you will approach per day to see if they are open to looking at your business opportunity. I recommend at least 3 people per day.
Now back in the old days this was do-able, but very difficult.
However nowadays with the internet and social media this is a snap; very simple goals to accomplish.
It is such a simple thing to do that it blows my mind that more people do not commit to doing it for 12 – 48 months in order to completely revolutionize their lives.
You can learn how to become very good at recruiting on these posts:
There you have it my friend, my top 8 reasons why people fail in network marketing and how to make sure you avoid these traps and go on to achieve massive life altering success!
Cheers to YOUR Success
P.S. As you learned recruiting is a major part of building a successful business. To help you become great at this important skill set I have created a Free Prospecting Boot Camp. Get started today. Sign up is on the side of the blog or at the bottom on a smartphone.
P.P.S. Let me know what you think of this post and whether it helped you in the comments below.