Having spent more than a decade in the network marketing industry now, I’ve done a lot of things right and just as many things wrong.
I want to share some valuable tips I learned during the past 12+ years, so you don’t have to make the same mistakes I did.
Most of these lessons were learned through trial and error.
The other lessons were learned from my mentors.
For the purpose of this article, I want to share the top 10 most common mistakes made in network marketing.
Some of these things are common sense and other things are a little bit more complex.
They are listed in no particular order.
Let’s get started.
# 1 Lying to or Hyping Up Your Prospects
Never, ever lie to your prospects.
Don’t mislead them when you approach them.
Never make them think you are offering them a job.
Never lie about how much money you make in the business.
Be honest with your prospects at all times, no matter what.
Never tell them what you think they want to hear.
Do the right thing even if it means you lose some of your prospects.
# 2 Promoting Multiple MLM Companies at the Same Time
Don’t promote two different MLM Companies at the same time.
For most people this is not a very good option (there might be a few rare cases where it works).
Your prospects and team members will be confused if you promote two different companies at once.
Instead, find a good company you are passionate about and focus on that company.
I’m not saying you can’t have other income streams.
But let your other income streams be something different from a second MLM Company.
# 3 Switching Companies Often
Don’t be the person that jumps from company to company every few months.
Don’t be a MLM Junkie.
Find a company you are passionate about and stick with it for the long haul: at least five to ten years.
You will be glad that you did.
When you jump around you lose credibility and you lose momentum.
Trust me, I’ve been there and done that.
It’s hard starting over.
It’s hard to rebuild the momentum.
Know right now that there is no shiny object or easy company.
Building a successful business of any kind is hard work!
# 4 Buying Leads
In most cases, buying leads is a waste of time and money.
Yes, there are a few distributors in our industry who build their business with purchased leads, but for most folks it isn’t a very good option (unless you have good phone skills and love rejection).
Instead, you should learn how to generate your own leads.
It will be money well spent.
Without a constant flow of new leads your business is doomed.
# 5 Not Working the Numbers
Selling is a numbers game.
So is MLM.
At the end of the day you have to share your products and business opportunity with hundreds of people, maybe even thousands of people, in order to find your customers, distributors and leaders.
If you don’t work the numbers, you will fail.
Not everyone you talk to will be interested in what you have to offer, but if you talk to enough people you will find enough interested people.
Make a commitment to talk to 2, 3, 5, 10 or even more people every day, no matter what.
Do that for a few short years and you will have a huge team.
Learn more about working the numbers.
# 6 Trying to be a Lone Wolf
This is another common mistake that I see a lot of network marketers make.
Don’t reinvent the wheel.
Follow your up-line’s lead.
Follow their system.
By all means, use your ingenuity, talents and abilities to build your network marketing business.
But if you ever have a problem and need help, consult with your up-line.
You don’t have to figure everything out on your own.
Remember, your up-line works for you, not the other way around.
This business is meant to be a team sport, not a one person operation.
# 7 Trying to Recruit the Wrong People
Don’t make the mistake of trying to recruit the people who NEED the business opportunity.
Broke, unemployed, and disgruntled people are not your best prospects.
They don’t want the business opportunity (or any opportunity) and they couldn’t afford it anyway.
Rather than prospecting your unemployed Uncle Bill, it would be a much wiser idea to prospect successful people, such as successful entrepreneurs, sales people, business folks, realtors and other people who have already achieved success in life.
You want people who are accustomed to merit based pay and commissioned based pay.
These are your best prospects anyway.
These are the folks who are always looking for new money making ideas and income streams.
Learn more about your ideal prospects.
# 8 Not Helping Your Team Succeed
As you sponsor people into the business, you need to take some time to help them get started right.
Not everyone will let you help them, but work with the willing.
Teach your new members the ropes, so they know what to do and can be functional on their own.
Don’t be so busy mass recruiting people that people quit just as fast as you sponsor them.
There is nothing wrong with recruiting a lot of people AS LONG AS you take the time to help them get started right.
Once you have FIVE serious people, spend most of your time working in depth.
# 9 Treating Your Business Like a Hobby
Most network marketers who join the industry don’t treat their business like a real business.
Most of these folks have never owned a business before so they don’t even know that means.
If you ever want to be successful in network marketing, you need to schedule business hours and work your business every day.
If you only work an hour a week, or take a couple weeks off, don’t expect much to happen in your business.
I like to tell people to treat their business like they do their job.
Show up every day, be consistent and work hard (even if you don’t feel like it) and good things will happen.
You get out what you put in.
# 10 Not Being Product Focused
The sooner you realize this lesson the better.
You NEED to be product focused.
Most folks are not interested in joining a MLM Company, but many of these same folks will become paying customers if they like the products.
Lead with the products and you will convert more people into customers and distributors and create more volume in your business.
Find loyal product users.
This will lead to repeat orders and many of these folks will eventually become good distributors.
If you just talk about your business opportunity you won’t do very well.
In summary, these are the top 10 mistakes made in network marketing as I see it.
Do yourself a favor and evaluate yourself in each area, so you can make improvements in your business.
You will be glad that you did.
What are your thoughts?
What do you think are most common mistakes in network marketing?
To share your thoughts just leave a comment.
I look forward to hearing from you.