You may have thought at some point in your life about becoming a network marketer. Perhaps, you were invited to the business. Whatever your initial response at being involved with network marketing. This has probably crossed your mind…why do people fail in network marketing? Well, I have a more specific burning question. Why do South Africans fail in network marketing?
There are countless reasons leading to this failure, I believe. Some of the reasons I can think of are as follows:
• High expectations
• Skill sets
Now, let’s delve in detail with regards to the points above. You see, most people join the network marketing industry for one reason: To make money; not just any money…huge money! People, when they join are too income driven. This is the mistake! That will lead to failure for most aspiring network marketers; when they set their sights solely on the financial gains. Once in, then they find that this is not the case. To achieve the level of financial freedom in network marketing requires a set of skills.
Know your product or service, this is crucial. Lack thereof, will bring about detrimental results. Here is a scenario: I ask you about your product or service…your reply: I suppose it’s good, at least that’s what I heard…Dah! You have got to give me more than that. I want to know your experience. I want to see your conviction and belief in this opportunity you are presenting. I do not want to see you fumble and not knowing how to answer questions. There, you have lost a potential team member because of lack of confidence. Thus, confidence leads to effective communication.
• Effective communication
If you can speak effectively so that the message you are trying to get across is heard by the next person. Then you have won half of the battle. No one wants to listen to someone who fumbles in their speech. Master the art of communication then see how it becomes easy to present your business to prospects.
• Presenting the opportunity
The key to inviting is the ability to share the business opportunity to prospects and not hound them. Refrain, from going around looking for every Tom, Dick and Harry bombarding them about your business. The goal of inviting is to educate people on what you do and give more information to those who require it. When people feel that you value them; they begin to understand what you do, then see your business grow. For some people the idea of giving live presentations make them quake in their boots, remember, this also comes with confidence. This too gets easier with time, until you wonder if you were ever scared to begin with.
• Follow up
Remember, most people do not join right away. You must be consistent and persistent in what you say. Please! Do not annoy but do what you say you are going to do and do it great.
• Training and mentoring
Now, you have this new team member that took interest at what you were so persistently and consistently presenting. For the team to grow, you must train and mentor the new team member to know what you know so that they can do the same when time comes. The master of duplication; the secret has been unravelled.
• Time Management
Set specific goals, without clear goals there is nothing to work toward to. On the same breath, make a schedule for efficient work ethic and stick to it. As a network marketer, setting clear business goals makes it easy to measure progress because you always have an endpoint in mind. It helps with organising your time, thus develop a schedule that suits your needs. Consequently, leading to focus so that you can make the most out of your time.
• Personal Development
Most network marketers fail because they do not want to invest additional money in improving themselves. To classify and simplify their prospecting system, and to build their team. I have touched on duplication. Do not shy away in acquiring new skills this will lead in growth of your network marketing business. There is always something to learn; the moment you tell yourself that you know it all. That is the day you will find that you did not know anything to start with. Invest in your knowledge in growing your business, it is always important to stay at the top of your game.
Having a plan in a form of goal setting, starting from small to big and from daily to weekly, to monthly…and keeping a schedule will help tremendously in being consistent. Understand that business is like a roller-coaster sometimes it is up and sometimes it is down. This can affect you positively or negatively depending on which end. During the down times, you must continue to be consistent with working on your business and keep following through on your plan. See where you are going wrong and change that. At this time, it is easy to give up because you are in a funk and probably feel hopeless. That is when a mentor, team member who has been in the road you are travelling now, can lift your spirits and help you keep the momentum and continue to be consistent.
Prospecting is the heart and soul of network marketing. This is the cold truth, without prospecting and eventually duplicating, you will not make money because you will not have anyone to sponsor in your business. Most network marketers fail because they do not want to recruit, and they do not make the effort to reach or find prospect. When you know that all it takes is to be well-informed enough to guide and train the next person thorough, for them to guide and train the next…and so on. That is all it takes.
People fail in network marketing in South Africa because they have not learnt the art of network marketing. To avoid failure, one must learn not to be a salesperson and not to be pushy and barrage their friends and family. Build trust with people and then share what you do, not in a forceful manner. Learn not to take every ‘No’ personally, sometimes ‘No’ means I am not ready maybe another time. Move on to the next person. In network marketing you will get more No’s that Yes’s…be prepared! It is not a smooth sailing boat, this business. Remember, quitters never win, and winners never quit!
Once you have knowledge of what you are getting yourself into then it becomes easy to overcome the hurdles on the way. This makes it easier to commit to the business when face with these hurdles in your network marketing business.
Commitment, I believe is one of the many reasons people fail in network marketing. To achieve the level of commitment you must be consistent. Know your WHY! Treat your network marketing business as you would any other business. It is not a hobby, treat it like one then you will reap the rewards of what you have put forth…
When starting in network marketing leave the employee mindset. For a business to expand, it needs the undivided attention of its owner. Then, why treat your network marketing business differently?
Network marketers fail because there is no support structure. They do not get the support they need from their sponsors. This makes hard for someone new and relies heavily on their sponsor for guidance and mentorship.
Once you start your journey as a network marketer, remind yourself constantly as to why you joined the business to begin with. You must find ways to keep your initial zeal and excitement. You must exude the enthusiasm that you want others to feel. Remember your WHY, it will fuel your determination. This is what will keep you in the of network marketing.
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