Why do network marketers fail? People fail in network marketing for different reasons. Allegedly, network marketing has a failure rate of about 97%. Network marketing is primarily about creating relationships. Part of life involves connecting with people. From childhood through adulthood, you engaged in relationships. You developed these relationships on a personal and professional level. So there should be no excuse.
A reason why people fail in network marketing is certainly not because of their sponsor. It has nothing to do with their comp plan or products and services. So what are the reasons or excuses behind the failure rate? If people are succeeding, then the business works. Having failed in a few businesses, I feel qualified to give my two cents on why people fail. Here are my reasons why network marketers fail in MLM.
Reason #1. Lack of consistency.
If you are marketing your business off and on, you will never succeed in network marketing. This business requires commitment to diligence. You may not be able to build your business every single day, but you should be consistent. If you look into the activities of the so called “97ers”, you will find that 97% of the time they are doing nothing. You have to do something to move forward. It’s that simple. So, a lack of consistency is a reason why people fail in network marketing.
Reason #2 Only talking to friends and family.
Only talking to friends and family will keep you broke. This is because most friends and family are broke. Not financially, but mentally. Most of our loved ones do not have an interest in starting their own business. In addition, they do not care about how great your company is. Especially if you are just starting out and not yet making any money. Earning a top earner salary requires you to expand your circle of influence beyond your friends and family.
Reason #3 No Time.
Many distributors want to build their business but they don’t have the time. This was my problem also. Working 5-6 days a week can be tiring on the body and mind. You come home to cook dinner and do homework with the kids. After all this work is done, particularly if you are a single parent, the last thing you want to do is build a business. In order for you to become successful you need to find the time. Use some of your lunch break. If possible, ask your boss if you can leave early here and there. You could also leverage the internet with a marketing lead generation system to assist you to build your business. Bottom line, you have to find the time somehow, to make network marketing work.
Reason #4 No money to buy product.
I assume that in every company, there is a monthly product commitment required. The commitment is necessary to keep your business centers open for qualification. If your company offers a consumable product, you need to buy some for personal use, retailing and sampling. Not having money to buy products will cause you to fail. You must invest in your business.
In conclusion, these are the reasons why network marketers fail. There are other reasons however, the ones listed are pretty common. Be consistent and communicate with people other than your friends and family. Allocate some time to build your business, even if it’s on your lunch break. Find ways to buy product to consume, retail and make money.
About the author:
Calvin Moss is home business professional. He is lives in New York City with his wife and daughter. Calvin Moss can be found on social media such as Facebook, Twitter and Instagram.