Network Marketing Success Secrets — 5 Reasons People Fail in Network Marketing (and how to avoid them)
In this article I share some network marketing success secrets; the five reasons why people fail in network marketing and how you can avoid them. Most people have no idea about what REALLY causes someone to fail in their business, and by learning these network marketing success secrets you will be armed with the knowledge of how to recognize and avoid these common pitfalls.
To help you get the most out of this article, I’ve created a free Mini Course for you called the Mindset Hacks of Top Earners. This five-part mini course breaks down the mindset hacks top earners use every day to grow their network, build a bigger team and create a lifestyle of freedom inside their network marketing business.
The reason I created this course is because I’ve found that 99% of the time it’s our MINDSET more than our skill set that holds us back and keeps us from creating results inside our business. You can have all the skills in the world, but without the right mindset you still won’t succeed. However, even as a beginner with limited skills, you can accomplish almost anything with the right mindset!
Get free instant access to my Mindset Hacks of Top Earners Mini Course by clicking here.
This is why I’m sharing these network marketing success secrets with you today:
There are a lot of preconceived notions as to WHY people fail in network marketing, and almost NONE of them are true!
Network Marketing Success Secrets | Reasons vs Excuses
If you ask someone why their network marketing business didn’t work they might tell you it’s because the product was too hard to sell. Because no one wanted to join their business. Because they didn’t know enough people. Because their market was already too saturated. Because they didn’t have enough support from their upline, or because they just weren’t very good at selling.
These are not reasons. They are excuses. And you know how I know that? Because if you look hard enough you will find someone who’s earning a 6- or 7-figure income after having overcome every single one of those excuses.
Where some see excuses and failure, others see opportunities and success. And failure in network marketing is never about who you know, or what you say, or the price of your products or whether you got in at the right time.
And I believe it’s time to set the record straight once and for all, and get to the bottom of why people REALLY fail in network marketing.
One of the best network marketing success secrets I can give you is…
This quote from Jim Rohn is one of my favorites, and hits the nail on the head for the first reason why people fail in network marketing.
Network Marketing Success Secrets | Failure Reason #1: Unrealistic Expectations
This reason is sneaky, and often causes people to quit and give up before they’ve ever gotten started.
And this reason is Unrealistic Expectations.
They think building this business will be fast and easy. And are quickly disappointed when they discover this is not the case.
Former PR Executive turned 7-Figure Network Marketing Leader and Author Romi Neustadt said it best: WHY would you think that building your own six or seven figure business would be easy?
Clearly there are too many people out there mistaking SIMPLE for EASY. Because yes, building a network marketing business IS simple. But easy, it is not.
And yes, building a lasting six or seven figure business in 4-6 years IS fast.
At least, it’s a heck of a lot faster than slaving away for 40 years in an unfulfilling job so you can retire on half of what was barely paying the bills in the first place.
But make no mistake — network marketing is called a 4-YEAR career, not a 4 month career or a 4 day career.
So… why do people come into this business with unrealistic expectations?
You can listen to my entire rant on this subject starting at the 6 minute 45 second mark of this week’s Freedom Factor Podcast episode. Listen to it at the top of this blog post, or click here to listen on iTunes.
Spoiler Alert: It’s all. our. fault.
The bottom line is, network marketing comes with a powerful promise, but it also has a price. And it’s time we start making people aware of both sides of the coin. Because guess what? The promise is WORTH the price!
Where else can you build a lifetime of wealth and freedom by working 10-15 hours a week for 4-6 years? Network marketing absolutely is the best vehicle for the average person to do that.
Here’s a bonus network marketing success secret for you:
Everything in life has a promise and a price. The key to growing your network marketing business effectively is to help people recognize the promise and the price of the life they’re currently living, and evaluate whether they’d like to exchange that for something different.
Find out what they’re missing in the life they’re currently living. Not what YOU think they’re missing… but what THEY think they’re missing. Listen. Really listen to what they’re saying and then offer up your business as a solution if it fits what they’re looking for.
Don’t interrogate them, but help them recognize the price and the promise of staying on their current trajectory. Find out what they want and then ask, “If you continue to do what you’re currently doing for the next 5 years, will you be closer or getting what you want, further away, or in the same place?”
“If I could show you how to invest 10 hours a week into something that could help you get what you want FASTER, without interfering with what you’re currently doing, would you be open to taking a look?”
It’s that simple!
Sometimes though, even when we KNOW things aren’t going to happen overnight, we still get frustrated when our business doesn’t grow as quickly as we’d like it to. Sometimes we still get stuck in a negative funk. That’s okay, but one of the greatest network marketing success secrets is that it’s not about never getting down… it’s about how long you stay there!
The strategies shared in the Mindset Hacks of Top Earners Mini Course will teach you how to develop the mindset required to become a top earner in your company and help you learn how to quickly get back into action so you can achieve the success you desire. You can get instant access to the mini course here.
Network Marketing Success Secrets | Failure Reason #2: Being Uncoachable
Ask Michael Jordan what his greatest skill was, and he’ll tell you: I was coachable.
He was a sponge, and aggressive to learn.
Being uncoachable is a common problem in network marketing, I think because many people who join our industry are already Type A personalities who like to be in charge!
But here’s the thing, in network marketing we are incredibly fortunate in that we don’t have to reinvent the wheel! And the fastest way to succeed is to find someone who’s already achieved the level of success you desire who is willing to share their strategies with you, then, duplicate what they did to create your own success!
I go deep into what being coachable really looks like in Lesson 2 of my Mindset Hacks of Top Earners Mini Course.
Network Marketing Success Secrets | Failure Reason #3: Not Treating Your Business Like a Business
I’ll just go ahead and raise my hand and say… this is why I struggled so much in my early years as a network marketer.
Network marketing is a part-time business, but it is NOT a some-time business.
The low barrier of entry, low monthly requirements, lack of accountability and “get rich quick” mentality are all factors that lead to people failing to treat their business with the commitment it deserves.
There’s a very simple network marketing success secret to help you start treating your business like the million-dollar-asset it is:
First, I want to write down the annual income you most desire to achieve in your business.
Not the income you want to have next month, or even next year. I mean ultimately. What’s your biggest, long-term income goal for your business?
Let’s say, for example, you want your network marketing business to pay you a million dollars a year. News flash… there are thousands and thousands of people inside our industry who are earning significantly more than that. It’s not a far-fetched goal!
Next, I want you to break down your annual income goal into monthly income. A million dollars a year is $83,333 per month.
Most top earners in network marketing spend about 15 hours a week working their business, which translates to about 60 hours a month.
So now, I want you to break down your monthly income goal into an hourly wage: $83,333 divided by 60 hours is an hourly rate of $1,388.
Let me ask you another question: Do you work your business as if it pays you $1,388?
I’m going to guess the answer is probably not!
Take a calendar and carve out 10-15 hours you can devote to your business each week.
Growing your network. Inviting people to take a look at your business. Presenting your business opportunity and helping those who choose to join you how to get off to a fast start.
If you’re building your business online, which I’m going to assume you are if you’re listening to this, then you’ll also want to spend part of this time marketing yourself and your business on social media.
So carve out your hours, then ask yourself: How would I act if I knew I would get paid $1,388 every hour that I work my business?
Then treat your business with that same level of reverence and commitment and work the hours on your calendar.
Network Marketing Success Secrets | Failure Reason #4: Limiting Beliefs
I’m too young. I’m too old. I do not have enough experience. No one wants to follow me. No one ones to listen to me. No one respects me. I am not a leader. I can’t do this. I don’t have a big enough network. I don’t know the right people. I don’t know what to say. I don’t… I can’t… I’m not.
Limiting beliefs will stop you in your tracks faster than anything else in this business. And that is because you can never ever out perform your own belief system. Whether you think you can or you think you can’t, you are right. So we best get busy figuring out how to think we can.
Network Marketing Success Secrets | Failure Reason #5: Fear
Fear is the number one stealer of dreams. It stops people more often than anything else, rendering them paralyzed and unable to do the things they know they need to do in order to reach their goals.
Fear ruins more dreams than anything else. It’s what keeps you staring at the phone… staring at your computer screen… engaging in “busy work”… getting caught up in drama…. anything to keep you from actually having to do the things you need to do in order to grow your business.
Fear and limiting beliefs are tied together strongly. The better you feel about yourself and your abilities, the less fear you will feel and the more willing you will be to take the actions that will lead to success. So in order to ditch fear, you must start with ditching your limiting beliefs about yourself!
Network Marketing Success Secrets | How to Get Rid of Fear + Limiting Beliefs
The only good thing about Limiting Beliefs and Fear is that we are not born with them. They are learned habits and thought patterns, and since they are learned they can also be unlearned by consciously going to work on reprogramming your mind for success.
This is an incredibly in depth topic. And it is vitally important. So for that reason all I’m going to do here is share my best resources for how to identify and get rid of your limiting beliefs about yourself. I’m going to link to each of these resources in the blog post and in the description in this podcast, so be sure to look there to access them easily.
The only way to truly release limiting beliefs and fear is through reprograming your mind and putting a new belief system in their place. You do this by creating a clear vision, through affirmations and through action.
Vision is simply having a crystal clear picture of where you are going, combined with the unshakeable belief that you will get there. I’ve done a few blog posts on vision over the years, but my best resource for vision is inside Lesson 1 of my free Mindset Hacks of Top Earners mini course.
Network Marketing Success Secrets | Mindset > Skill Set
Inside this mindset hacks mini course you’ll not only find training videos and downloadable resources on how to craft your vision, but also in lesson 3 I share resources on how to become more courageous and overcome fear as well.
In addition to the five mindset hacks found in that course, I also share a bonus strategy to help you grow your team faster than ever before. This one strategy, once we implemented it, helped my business partner and I grow our business from $150,000 to over $600,000 in one year, and helped us exceed $1 million the year after that.
Additional Resources That Will Help You
MLM Freedom Community – Learn More
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Secrets from Growing Up MLM – Learn More
My Mom became a network marketing professional when I was just 10 years old, and I joined the network marketing industry when I was 18 as a senior in high school! Over the years I’ve learned a lot of lessons I wish I’d known when I first got started, and I share them all with you here in this eBook!
FREE 4-Step Online Prospecting and Team Building Blueprint Webinar – Learn More
Discover the simple daily routine my Mom and I use to build a 6-figure business to help you enroll people every week and build a huge team online without bugging your friends and family. Inside this free webinar you’ll learn how to quickly find an unlimited supply of prospects online every day for free, what to say to them to make them instantly want to know more and how to convert your interested prospects into customers and team members without feeling pushy.
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