7 Reasons Why You’re Failing at Network Marketing

Here’s the facts… most network marketers are spending more money on their businesses than they are making from their businesses. It’s sad, but true. What’s even more sad is that many of them have no idea WHY they are not having the success they’re striving for. This article is going to explain the top 7 reasons why the failure rate for network marketers is about 95% and how you can put yourself in that coveted 5%:

Here are my top 7 reasons why you’re failing at network marketing:

1. You haven’t been properly trained on how to market your business.

Network marketing is comprised of two halves – networking and marketing. For some reason, the industry tends to focus on the networking part, but the marketing part is just as critical. Many people have no idea how to market, so failure is a high probability. You can market your business using the traditional offline methods, or use the “new school” methods of Internet network marketing… or combine them! The important thing is to get some marketing training and start  learning this very important skill.

2. You’re an opportunity hopper.

There is always a new company launching that is promising to make you rich if you get in on “the ground floor.” The problem is that if you never stick with one company your business will never have a chance to grow. Imagine that you were planting a garden and you started with tomato seeds on day one. Next week, you decide the seeds aren’t growing fast enough and you heard that strawberries are better anyway, so you dig up your tomato seeds and plant strawberries instead. Then, the next week, someone tells you that it’s easier to grow cucumbers so you change your mind again, dig up the strawberry patch, and plant cucumber seeds. Guess what you have at the end of the month – dirt! Your business is no different. Let the seeds grow – commit to your company and stick with it.

3. You’re not giving it enough time.

It took me about 3 full months before I made my first dime online (that’s where I started, in case you didn’t know). I got a $10 check in the mail and I was over the moon with joy because, for me, that was proof that I could actually make money online. BUT I had worked tirelessly, day and night, to get that measly $10. For many people, that wouldn’t have been enough to keep them going. Many people work hard for a month or two and then give up saying that it just doesn’t work or that it’s not worth it. Like any business, it takes time and work. You’ve got to commit in order to begin seeing results. I always recommend starting with the mindset that quitting isn’t even an option you can entertain for at least 12-24 months. Don’t even think about it! Focus, commit, and take consistent action towards building your business and you’ll be surprised by what you accomplish in that time frame.

4. You’re not generating enough leads.

In many ways. this business is a numbers game. So, you need to keep a steady stream of leads coming into your business in order to translate that into a steady stream of new team members you can sponsor. This goes back to #1 – knowing how to market your business. Getting a steady stream is tough in the beginning (trust me, I know) but the goal should be to get to where you have at least 20 leads per day. Make that your goal and work your butt off to achieve it.

5. You’re not following up with your prospects.

This is crucial! Most network marketer don’t follow up. I know this first hand because I’ve actually talked to some prospects that told me they looked at my primary business first with someone else but never heard from them again… then went online in search of more information, and found me! You can follow up in a variety of ways too – a phone call, an in-person meeting, an email, a text message, or a greeting card. Phone calls are best because actually talking to people is critical to building your business.

6. You don’t have your own website.

Using the company supplied website is not a good strategy for success. Most of the company supplied network marketing websites are not that good and fail to have a lead capture page with a proper sales funnel. It’s much better to have your own website or blog that you can fully control and drive website traffic to. Plus, having your own website hosted on your own domain makes you look more professional and helps to brand you as a leader.

7. You’re not capturing your website visitors information.

If you’ve got your own website, you’ve got to capture your website visitors information (name, email, and preferably their phone number). This will help you increase the number of leads you have to work with towards building your business and it will build your list so that you can build those relationships over time. You can market to your list and build another revenue stream… or the circumstances for someone on your list can change at anytime and they may join your business on complete autopilot (sweet!).

There you have it! My top 7 reasons why you’re failing at network marketing. How do you succeed? Devote yourself to continued training (marketing, the network marketing industry, and personal development is best) and stop hopping around from one opportunity to the next. Commit to your company and don’t even think about quitting unless you’ve given it your all for at least 12-24 months. You need to learn how to generate at least 20 leads a day and you need to follow up with them! Finally, you need a website and you need to be sure that you’re capturing your website visitors info so you can keep in touch with them.

I’d love your feedback! Did I miss anything? Do you agree or disagree? Leave me a comment and let me know!