In today’s article, I want to share 10 things that hold you back in network marketing. These are common things that many people in our industry struggle with. Now of course, you will naturally be good with some of these things and you will struggle with other things on the list. No one is perfect or good at everything. We can all improve. I hope you will evaluate yourself in each one of these ten areas to see where you stand.
10 Things That Hold You Back in Network Marketing
Let’s get this party started.
# 1: Your Ego
Many people join our industry with an ego. This might be because (1) they earn a large income in their regular career, (2) they have lots of college degrees or fancy titles, or (3) they have lots of life or business experience and think they know it all.
Regardless of what you have done in a previous career, network marketing is different. You must keep your ego in check and HUMBLE yourself enough to listen to someone who has gone before you and achieved the success you desire.
This is exceedingly difficult for most people to do. It’s something I struggled with for many years myself.
Keep your ego in check. Be a sponge. Learn everything you can and never have the mindset that you know it all or have arrived.
Your ego can make you believe some pretty interesting things. Sometimes it’s that you deserve more because of who or what you are. Sometimes it’s that you can make anything work, even if it’s not your specialty (cough like selling your company cough). This isn’t usually an issue… but when important business decisions are involved, your ego can cost you.
If you’re looking at a big decision, you need to see all sides of it and see it calmly. We’re good at justifying our actions and choices after the fact, so it’s vital we’re sure before we decide on a direction. Often, this means asking your advisory board or other trusted advisor for input. But sometimes you just need to take a minute — or a day — to really let the situation sink in.
Making rushed or emotional decisions can rebound 10-fold on you, especially if your wounded pride is in there. Your ego might be telling you not to back down in a situation, but the pertinent course of action would be to resolve things rather than escalate them. Think about the consequences before you commit finances or resources to appease your ego. You need to think about the impact beyond today. ~ Akrona.io
# 2: Your Expectations
Many people join our industry with false expectations. Most people join our industry out of desperation. They need a financial miracle and they are looking for a quick fix.
Like any business, it takes time to build a successful business, typically several years. This business is not the lottery or a get rich quick type of thing.
If you have big expectations, but you don’t have the skills and you don’t put in the work, you will end up disappointed.
Considering you are building your business part-time, here’s a good estimated timeline for success.
- 1 year to learn the ropes and make a small profit
- 2 years working part-time consistently with one company to make $1,000 to $3,000 per month
- 3-5 years working part-time consistently with one company to create a full-time, livable income
- 5-7 years working part-time with one company to generate a six-figure income
Personally, I think this is a great deal, especially since you are doing the business part-time while you work your day job.
# 3: Your Attitude or Mindset
This business is at least 80% attitude and mindset and about 20% skills. Even if you possess the skills it takes to succeed in network marketing, you will never do the work, or do it consistently for a sustained period of time, if your attitude and mindset are off.
This is where personal development comes into play. Your business will only grow as much as you do so make sure you spend time daily to grow yourself as a person.
# 4: Your Belief
You need belief in four things to succeed in this industry.
- Belief in the products
- Belief in the company
- Belief in the industry
- Belief in yourself
It’s easy to build belief in your company’s products if you use them yourself.
To build up your belief in the company, learn more about the company’s leadership team. Visit the corporate office. Talk with the CEO. Attend the company’s annual convention.
To build up your belief in the industry, attend industry events. Read books about network marketing. Watch videos and listen to training programs about network marketing.
Finally, you must believe in yourself. This is easier for some people than others. You must overcome your confidence and worthiness issues if that is something you struggle with. Consider talking with your coach, a pastor, or even a psychologist if needed. Until you believe in yourself you will never achieve the massive success you desire.
# 5: Your Skills
Even if you had a PhD and applied for a job at McDonald’s, you would be required to complete their training. You would need to learn their systems and master a few basic skills. Network marketing is no different. You must master a few basic skills such as prospecting, inviting, following up, closing the sale, promoting events, selling products, and launching new reps.
This won’t happen overnight. However, within 12 to 24-months of being persistent and consistent, on a part-time basis, you can learn and master the basic network marketing skills.
# 6: Your Activity
Stopping and starting are the kiss of death in this business. Show me your calendar and I can 100% predict the level of income you are making in your business, especially if you are new to the business.
What you lack in skills you can make up for in numbers. The person who makes the most amount of money in our industry is the person who makes the most exposures and gets the most No’s.
# 7: Your Time Management
If you can’t build your business part-time, you will never be able to do it full-time. Time management is one of the most important skills to master in your network marketing business.
You need to plan your work and work your plan. Create a work schedule for the week every Sunday night and make sure you have the self-discipline to follow it: no matter what.
Treat your business at least as seriously as you do your job.
If motivation is the spark, discipline is the fuel.
Discipline is what gets you up out of bed every day, even when you aren’t feeling particularly motivated. It’s what helps you chip away at your dreams every single day, little by little, until you accomplish them.
Poor discipline is one of the major causes of poor time management because if you aren’t disciplined, you won’t be able to resist temptations to waste time.
The thing to understand about discipline is that it is built up over time. You don’t get it overnight. You have to spend weeks, months, and years taking action and doing what needs to be done.
As you build up discipline in one part of your life (such as establishing a morning routine), it becomes easier for you and frees up energy that you can harness to practice discipline in another part of your life. ~ Legiit.com
# 8: Your Focus
Focus is key. You must keep the main thing the main thing. This means you avoid shiny objects and you only promote ONE network marketing company. You can’t chase two rabbits and catch one. Every successful rep I’ve met is extremely focused. Every struggling rep I’ve met is not focused. You get what you focus on so choose wisely.
# 9: Your Fears
Everyone has fears. That’s what makes you human. Most people either fear (1) success, (2) rejection or (3) failure. Please understand that most of the things you fear will never materialize. The best way to overcome your fears is to take all out massive action. Action cures fear!
# 10: Your Decision
The most common thing that holds people back in network marketing is NEVER making a decision to go ALL IN and do whatever it takes for as long as it takes.
Most people have the mindset that they will dabble with it or try it out for a period of time and see how it goes. Success never works that way.
If you want to succeed in anything in life, you must decide. You must burn your bridges and be 100% all in. Once you make that decision, everything else falls in place.
Success never goes on sale. You must pay the full price.
Final Thoughts
In conclusion, these are 10 things that hold you back in network marketing. Of course, these aren’t the ONLY things, but I do believe they are the most common things.
What are your thoughts about the things that hold people back in network marketing? Do you agree or disagree with me? Leave a comment below to let me know what you think holds you back in network marketing. I look forward to hearing from you.
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Chuck Holmes
20+ Year Network Marketing Professional
Top Earner & Top Recruiter
Email: mrchuckholmes@gmail.com
P.S. Learn how to grow a successful network marketing business. Secret tips, training, and practical ideas. Free training delivered by email.
Great post Chuck. I agree on all of these. #1 & #2 (ego and expectations) are the top things I see that knock out at least 80% of the people coming in. Sometimes it’s due to the way people present the opportunity. It’s important to let them know coming in that it’s work and it’s a real business, not something that’s going to happen all by itself. Anyway, great article (as usual).