Today, I want to share what I believe is the one common mistake that hurts most network marketers. New network marketers make a lot of mistakes in their business, mostly because they don’t have any business experience.
Most people who get involved in MLM have NEVER owned a business before. So, they don’t naturally have the skill-set and mind-set it takes to succeed in business. They are clueless when it comes to sales, marketing, advertising, leadership, running and growing a business, cash flow management, and so forth.
Of course, this applies to every type of new business owner, not just network marketers (even though no one ever likes to mention that). Most new business owners (in every industry) have to go through a steep learning curve before they can become successful in their business.
What’s great is that network marketers (and business owners) can develop the right skills if they come up with a game plan, find a mentor, stay persistent, and work on their personal development. However, very few network marketers will ever stick around long enough to do that.
Now that we’ve got that out of the way, here’s the one common mistake that hurts most network marketers.
As I see it, the one common mistake that hurts most network marketers is jumping from business opportunity to business opportunity every three to twelve months.
Here’s what typically happens.
Allen joins a MLM for the first time. He is excited about the opportunity to work from home, earn residual income, become his own boss and eventually quit his job!
For the first 30 to 90 days he is enthusiastic about the business. He does everything this upline or sponsor tells him to do. If he’s persistent, he sponsors a few people and builds a small team of customers and distributors.
By the end of the his third month, he’s only making a $50 to $100 commission check (if that). So, Allen becomes frustrated and loses faith in his upline and company.
So, what does he do now?
He quits the business and chases the next shiny object that is presented to him.
He repeats the same things with his next business and gets the same results that he did with his first business.
Within a few more months he becomes jaded and quits his new business to look for the next greatest thing.
And if he’s like most distributors, he repeats this process for a period of YEARS, before he becomes totally disillusioned with the industry (and entrepreneurship).
After a few years, he has no friends left, he is broke and he feels that he was scammed! So, he goes out and creates a blog telling everyone how the MLM Industry is a scam!
Sadly, all of this could have been prevented. Had Allen followed some simple advice, he could have avoided this costly mistake, and the pain and frustration that goes with it.
Here’s is what Allen should have done (and what you should do).
First and foremost, Allen should have found a company with a product or service he was passionate about.
After all, it’s much easier to promote something that you love!
Next, Allen should have realized that all businesses take a year or two just to get profitable!
Furthermore, Allen should have made the decision to stick with ONE company for at least five years. Let’s face it, it takes most entrepreneurs (and network marketers) three to five years, just to build a $3k per month or higher income, especially if you are working a business part-time.
Had Allen had a mentor, he would have realized that the grass is not greener on the other side, it’s greener where you water it!
Finally, Allen should have realized that building a successful business is a different mindset that being an employee. With a business, you get paid based upon the results you produce, not the amount of hours you work.
Had Allen known these things up front, he could have avoided the one common mistake that hurts most network marketers: jumping around and giving up to soon.
So, if you are a new network marketer, or have new network marketers on your team, I hope you will apply these lessons in your business, and teach your team to do the same.
What are your thoughts on this subject? What do you think is the most common mistake that network marketers make? Leave a comment below and let us know.