7 Ways You Are Ruining Your Network Marketing Career


1. Listening to the wrong people

Would you ask for parenting advice from someone who has never had a child? What about a health consultation from someone without a medical degree? Just as well, you should not be asking for business advice from people who have never owned a business.

A common mistake by people who are new to network marketing is when they consult their close family and friends who have no business knowledge about their new business and listen to these people when they express their negative, unfounded opinions about network marketing. Of course, your loved ones do not want to harm you with their advice, but it is important to ask yourself if they are qualified to lecture you about your business.

Do not make decisions about your financial future based solely on what your family and friends think of your career choices. Instead, turn to those who have known success in running a business, especially those in network marketing.

 

2. Starting with the wrong expectations

Repeat after me: Network marketing is not a get-rich-quick scheme. Network marketing is not a get-rich-quick scheme.

Keep in mind that it takes at least a year for any business to become profitable. Network marketing, just like any business, takes hard work, perseverance, and the right mindset. Do not make the mistake of thinking that, because you aren’t able to make money out of your network marketing business in the first couple of months, you are no good at it or are being ripped off by the company you are representing and should therefore quit.

Take the time and effort to learn from your upline and get better every day, and you will become successful.

 

3. Choosing the wrong network marketing company

The first thing you have to be careful with, of course, is ensuring that the company you are about to represent is a legitimate network marketing company and not a pyramid scheme. Then you have to find a company that you are genuinely interested in making an investment. This means the products are very useful and of excellent quality, and the company is one with a respectable reputation and has been around at least five years—the amount of time it is generally considered that a company is already stable and profitable.

 

4. Sugarcoating and outright lying to your prospects

Never, ever lie to your prospects. Do not mislead them into thinking they are entering something other than what you present. Do not promise them instant riches and exaggerate how much you are making in your business. Never invite someone to do something when you are planning on tricking them into attending a business opportunity meeting instead. This not only gives you a bad name, but the company you represent and the network marketing industry as well. Always do the right thing and be honest, even if it means losing some of your prospects. The ones who will still be interested are also more likely to be the right people for the business.

 

5. Focusing only on signing as many referrals as possible

So you managed to sign a hundred direct downlines personally. WOW, THAT’S AMAZING! Right? Not if they all quit within their first 2-3 months. Remember: Network marketing is about a lot of people doing a little, not a few people doing a lot. Instead of going on a referral rampage in order to sign as many people as ever to the business, focus on getting a few really good people and teach them the ropes, so that they in turn can find their own downlines and teach them the ropes, and so on and so forth. That’s how you let your business truly grow.

 

6. Depending on money to solve all challenges

Once you start really earning in your business, you will also start finding yourself with growing disposable income. When you have a lot of money, it is easy to fall to the temptation of simply throwing your money at hurdles that cross your path and hope that will make them instantly go away. They won’t. You must find proactive solutions to your challenges that are also economical to ensure that you continue to have good cash flow. Track every dollar you spend and ensure that each one is spent wisely.

 

7. Giving up

The final mistake is very simple. Most people give up way too early (most likely due to having the wrong expectations) and fail to see their plan through. Once they realise there is actually work involved in running a network marketing business, they move on to the next shiny object that promises quick riches, not understanding that there is no such thing in this world—unless you’re next in line for a great inheritance or suddenly win the national lottery, and even then you still need to pull out some smarts and work hard to maintain or grow your fortune. Just ask any wealthy person. Success takes time and dedication. That’s what makes it all the more worth it.

 

 

References:

http://www.networkmarketinghq.co.uk/training/the-5-biggest-mistakes-new-network-marketers-make-and-what-to-do-about-it/

http://onlinemlmcommunity.com/top-10-mistakes-in-network-marketing/

 

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4 Comments Add yours

  1. sureshvidja says:

    That’s good knowledge for each and every networker. …….

    1. Thanks for the appreciation, Sureshvidja! 🙂

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