Today, I’m going to share three challenges network marketers deal with, and teach you what to do about it.
Of course, this is just my opinion. By all means, we can agree to disagree.
Let me tell you right up-front that MLM is tough. It’s the hardest thing I’ve ever done and I’ve owned several types of businesses.
It’s definitely not for everyone. And you know what? That’s okay.
We are each on our own journey in life. Ultimately, you need to find something you are passionate about that aligns with your skills, personality, goals and values.
However, I do believe that if you can succeed in network marketing, it truly is the best business model in existence. What else offers these types of things?
- Leverage without employees or capital
- Low start-up costs, normally less than $100
- No territories
- No employees
- Low monthly overhead
- No inventory required
- Work anywhere in the world
- Free mentor and training
- No office space needed
- No R&D needed
- Lots of personal development
- RESIDUAL INCOME.
It’s a dream business… for some folks. It’s a nightmare for others…
There’s a steep learning curve. Most people coming into our industry have never owned a business of any kind before. Nor, do they know much about sales, marketing, leadership or lead generation. As a result, they struggle in their network marketing business.
Until they can master some basic fundamentals the business will be very hard to succeed with.
Anyone CAN master these skills. Most people just won’t make the commitment to do it.
The Three Most Common Challenges Network Marketers Deal With
Listed below are the three most common challenges network marketers deal with, as I see it, along with some suggested solutions.
# 1 Lack of Leads
Leads are the lifeblood of any business.
Without a steady flow of new leads for your network marketing business, you will be out of business in no time.
Most people in our industry have no clue what to do after they exhaust their warm market. As a result, they get frustrated and quit.
My advice would be to study marketing and lead generation and master that skill. It isn’t all that hard to do.
There are plenty of YouTube videos about marketing and lead generation. There are plenty of books about it. You can even go to marketing and lead generation conferences…
If you seek the knowledge, you will find it. However, it’s up to you to seek it out.
You won’t just magically wake up one day and be the Grand Master of Lead Generation. It took me about two years of full-time study and about ten thousand dollars to really figure it out.
Once you have an endless flow of new leads, the business is much easier to do. It actually becomes fun. I can promise you that.
# 2 No Follow-Up System
The money is in the follow-up. You’ve probably heard that before.
Most people in our industry are taught the “some will, some won’t, so what, next!” concept. I think that’s a recipe for disaster.
If you’re only looking for people who are actively looking for what you are offering them TODAY, the business will be tough.
You need to know upfront that most people are going to tell you no initially. Most people who do join your team, or become a customer, will need minimum 7 to 20 exposures before they do join or buy.
That’s why you need a follow-up system that stays in touch with people.
I personally use an auto-responder to automate this process for me. It’s my # 1 business tool. I believe every network marketer should use an auto-responder, even if they are building their business offline.
I also believe that you need to stay in touch with ALL of your leads at least once every 90 days until they buy or die.
It would really help you if you could develop a simple follow-up system for your network marketing business. You can do this with a CRM (customer relationship) program, an address book, Excel Spreadsheet, or by using a simple index card system.
Just pick something that works for you and do that. The system is the solution!
# 3 Lack of Persistence
We live in a crazy world where most people expect instant gratification. They want it and they want it now.
No. They want it yesterday.
That’s one of the major reasons the divorce rate is so high in our country. Everyone expects marriage will be easy. As soon as it gets tough, they quit.
Fad diets are so popular for the same reason. God forbid you have to eat right and exercise and make healthy lifestyle choices go get in shape. Instead, just give me the secret pill while I stuff down some fast food.
From personal experience, I’ve found that nothing worth accomplishing is fast, free or easy. Persistence is a virtue.
Anyone can start something, and most people do, but to become successful you need to be a finisher.
What does this mean? It means that you stay the course even after the honeymoon phase is over and you are no longer excited about your network marketing business.
It means you take the long-term view with your business. It means you do something every single day to move your business forward, even when you don’t feel like it.
Especially when you don’t feel like it!
Persistence is vitally important. Look at anyone who is ultra-successful at what they do and you will see they were very persistent for many years.
Most successful people struggled for YEARS before they had their breakthrough and succeeded on a grand scale. There’s no such thing as overnight success, unless you consider five to ten years overnight.
Others Reasons People Struggle in MLM
- Not being coachable – In this business, it makes sense to follow the lead of a respected mentor. Why reinvent the wheel? You need to be open-minded and humble yourself. Find someone who has done what you want to achieve in the business, and follow their lead.
- Lazy or unmotivated – This business has a way of weeding out the lazy and unmotivated people rather quickly. Sadly, most people are not truly motivated or overly ambitious. That’s okay. To each their own.
- Lack of skills – You need to work on your skills. These skills include people skills, leadership, prospecting, communicating, teaching and more. Yes, this business is a numbers game, BUT, you can reduce the numbers you need to work through by mastering your skills. Be a student of your business and a student of the profession. Commit to lifelong learning and learn everything you can about network marketing.
There you have it folks. These are the common challenges network marketers deal with, as I see it.
What do you think? Do you agree or disagree? Leave a comment below to share your thoughts. I look forward to hearing from you. Have a great day.