In the network marketing, home business and make money online industries, we have a huge problem that I call the Shiny Object Syndrome.
This is when people switch from company-to-company or opportunity-to-opportunity every three to six months (or less) because they aren’t getting the results they desire in their current business.
They don’t get the results they want with one business (or with their MLM Company) so they QUIT and join a different business opportunity hoping that things will be easier and better. When they don’t achieve the success they desire in their new opportunity right away, they jump ship again.
Many home business owners repeat this Shiny Object Syndrome process for YEARS. I’m guilty of doing this myself for nearly a decade, and I am embarrassed by it.
Learn from my mistakes. Even worse, I know some distributors who have been in the industry more than 20-years and have worked with close to 100 companies!
How can you expect to achieve success in any business model when you are constantly jumping around like that? I don’t think it’s possible. At some point, you have to buckle down and commit to one company, or one opportunity!
When you keep switching companies or opportunities, you lose momentum. You have to keep starting over. Even worse, you lose your credibility with the people you know, and rightfully so.
People simply won’t take you seriously when you are promoting a new opportunity every week. I know I wouldn’t take someone seriously if they called me every few months with something new. Would you?
The Internet Ruined Everything
I love the internet. I really do. It has changed my life and business for the better. It’s also really damaged the home business industry.
The major problem with the internet is information overload. There is so much false and contradicting information online. There is so much hype. People don’t know who to trust or what to do.
The Shiny Object Syndrome is alive and well on the internet.
You see ads like:
- “Follow Our System and Make $10k Your First Month!”
- “Get Started for $500, Do Nothing, and Watch the Money Roll In!”
- “Work 10 Minutes a Day and Make Six Figures Your First Year!”
- “Ground Floor Opportunity! Get In Before Everyone Else and Make It Big!”
- “Homeless Man Earned $200k in His First Month!”
I could go on and on here, but I’m sure you’ve seen tons of ads like this online.
Most people receive SEVERAL emails per day with the next greatest business opportunity. The ink on their signature of their distributor agreement hasn’t even dried yet and they’re off to the next company. Have you had people on your team like this?
I can’t speak for you, but I get pitched online at least 20 to 50 times per day by email. Combine that with how many people call me trying to recruit me and it’s even worse. Throw in Facebook and it’s a trifecta of shiny objects.
Back in the day, before the internet, people had limited access to information.This was a good and bad thing. Now, anyone can search online for five minutes and be completely bombarded with business opportunities and shiny objects.
I think the major problem with the internet is that it feeds on so many people’s desire to get something for nothing.
That’s why Shiny Objects are so rampant online. Because people want something for nothing! People want quick, easy money without doing the work. They want it free and they want it now. God forbid you actually have to work to make money.
People place HYPE based and FEAR based ads online because they work! I’d never respond to that type of ad, but many folks do.
Other Posts You Might Enjoy:
- The Problems with Recruiting MLM Reps on the Internet
- The Internet Isn’t a System For Your MLM Business
- Top 10 Internet MLM Marketing Tips
- Four Ways the Internet Has Changed the MLM Industry
- Sample Website or Blog Business Plan
Wisdom About Business
When you study the most successful people in the network marketing industry (or any other industry), you will quickly discover that they buckled down and stuck with one company (or business model) for several years before they made it big.
They made a decision that they would succeed, they persisted and they kept moving forward UNTIL they made it. They made a ton of mistakes along the way, but they learned from each mistake. They took all out massive action and did what most people aren’t willing to do.
Lessons Learned from the Shiny Object Syndrome
I think there are some valuable lessons to learn from the Shiny Object Syndrome.
# 1 Building a profitable business of any type is not easy to do.
Most businesses fail! Statistics vary by source, but it’s common for 8 out of 10 businesses to close down within their first five years. The home business Industry has similar statistics. Most businesses that do make it big take several YEARS to become successful.
It requires lots of hard work and persistence to build a successful business of any kind. It also requires mental toughness. It takes a big vision to keep you going during the difficult times. The bottom line is that no business is fast, free or easy.
# 2 You must learn to think like an entrepreneur.
Entrepreneurs think differently than employees. Employees value security. Entrepreneurs value opportunity. Employees earn a linear income and trade time for money. Entrepreneurs build an asset that continues to pay them in the years to come.
You must realize that your product or service is not your real business. Your job as a business owner is to make the cash register ring. You must focus on marketing, lead generation, and working on your business, not in it.
# 3 Most business take a year or two to make a profit.
No matter what type of business you start, it will probably take you a year or two just to make a profit. In the beginning of any new business, you will work hard for very little money. More than likely, you will work for less than minimum wage. This is a fact. However, as you grow your business, you can eventually make a lot of money without doing a lot of work.
# 4 The grass is greener where you water it.
While other opportunities might look amazing from a distance, you will quickly discover that no opportunity is easy or perfect. The grass really is greener where you water it. Pick the opportunity you want to have your problems with.
# 5 You must go through a learning curve.
Whenever you start a new business or job, you must go through a learning curve. You have to learn the specialized skills of that business. This will not happen overnight. Depending on the business model, it might take you a few years to really master your skills. It’s important to be a student of your business.
I once heard that it takes 10,000 hours to become an expert at something. If you are working your business 20-hours per week, it would take you 500 weeks, or about 10-years to become a network marketing expert.
# 6 Just get started and keep learning.
One of my most important lessons is simply to get started and don’t quit. You will never have all the answers or know everything you need to know BEFORE you succeed in a business. Just make it a point to keep learning and get a little bit better every single day. Do that and the Slight Edge concept will kick in. Before you know it, within a few short years, you will be so good at what you do.
My Hope for You
My hope is that starting today, you will make the decision to build a profitable network marketing business or online business with your current opportunity. If you aren’t happy with your current opportunity, by all means find a new one. Pick an opportunity you are willing to have your problems with and stick with it. No company is perfect.
Once you’re in a company you love, make it a point to stick with that one company at least two years before you even consider looking at another company or business opportunity. Put on your blinders and never look back. Remember, it takes time to build a successful business of any kind, normally three to five years. Focus is key.
Keep your vision in front of you at all times. Realize you will have ups and downs. Success is never a straight line. Things never go exactly as planned. Be flexible, make minor adjustments along the way, but stay the course!
And remember, your success is up to you, not someone else. Man up or woman up and take 100% responsibility for your business.The grass is greener where you water it!
What are your thoughts about the Shiny Object Syndrome in the home business industry? Leave a comment below to tell me what you think. I look forward to hearing from you.