Since I am so passionate about our industry of Network Marketing, and tired of people dropping out and blaming it on the industry, rather than taking responsibility, I am going to be doing a series of posts on why people fail in MLM. There are so many reasons people fail. Reasons ranging from not choosing the right company to basically not being willing to pay the price for success.
But for me, these are the top 5 major reasons people fail in network marketing.
1) Not having a business mindset or professional mindset and Treating it as a hobby
2) Not being patient and approaching this with a lottery mentality
3) Not following your company’s system
4) Not willing to do the personal development and the work it entails to get to where you want
5) Giving up too easily.
Lets take the first. Not having a business mindset or treating it like a hobby.
Lets face it, most of the people who are attracted to network marketing approach it with a get rich quick mentality, or a lottery mentality. They do not treat this profession of ours, like a profession, or a business. Its all about mindset. A professional is “a person who is engaged in a certain activity, or occupation, for gain or compensation as means of livelihood; such as a permanent career, not as an amateur or pastime“.
A professional does any activity with his/her passion and mind. An amateur does this for fun, as a past time. If you are currently working your business as a past time, or when its convenient, it will show in your paycheck, that’s if you get any at all!
A professional has the following characteristics:
- Expert and specialized knowledge in field which one is practising professionally.
- Excellent manual/practical and literary skills in relation to profession.
- High quality work in (examples):
- A high standard of professional ethics, behaviour and work activities while carrying out one’s profession
- Reasonable work morale and motivation. Having interest and desire to do a job well as holding positive attitude towards the profession are important elements in attaining a high level of professionalism.
- Appropriate treatment of relationships with colleagues.
A professional is an expert who is a master in a specific field.
Now, apply all of the above to network marketing, and you might have an idea of what I’m talking about. A professional strives to be an expert in his or her field. Experts become experts by study and practice. How many books/CD’s etc have you studied on Network Marketing or growing your mindset?
A professional is committed to excellence. Are you? Are you committed to excellence in this profession? Are you excellent at prospecting, inviting, follow up and team building? If not, are you willing to pay the price to upgrade your skills? A professional has high work morale and motivation. As a network marketer, do you possess this? Do you control your motivation? Or are you easily affected when things do not go the way you want, i.e you face a rejection?
A profesisonal treats colleagues with the highest ethical standards. Do you resort to underhanded techniques to attract prospects? Do you tell your team members the truth?
Lastly, a professional is an expert who is a MASTER in a specific field….how dedicated are you to becoming a network marketing master? How dedicated are you to working on your mindset, prospecting, learning, presenting, etc? How dedicated are you to learning?
Most people do not treat this business of ours like professionals, and they have a lottery mentality. They expect things to just “happen”. Some people feel they can just sign up two people and go to sleep, and begin earning six figure incomes….it doesn’t work that way. You need to be ALL-IN. You need to be dedicated to being a master. And not treat this as an amateur. You might not be able to do this full time due to where you are in life right now, but during the times you dedicate to working your MLM business, you go all out, and you treat this with the highest level of respect and mastery possible.
I will continue with the other reasons why people fail in MLM with my next post. Please share if you liked this or got any sort of value from this!
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Adewale Adebusoye’s MLM and Internet Marketing Blog
Follow me on Instagram: @adebusoye
Email: ade(at)adebusoye (dot)com