Why so many people failed? But thanks to the book written by Richard Poe, I fully understand how this industry works, and I found this article by Richard Petrillo's blog on why do people fail in their networking business.
Here is his top ten
#10. Why you will fail in Network Marketing!
You Don’t Have The Right Attitude For The Business! (also see #6)
Most people don’t have the positive long term attitude it takes to succeed in this business. Just because they invested only $500 to $1000 dollars to get started, somehow they don’t value their business as much as if they had invested $500,000 dollars. They don’t take the business seriously nor do they BELIEVE they can do it.
Whether your attitude needs adjusting or not, Mr. Hsu suggests that everyone read “The Power of Positive Thinking” by Norman Vincent Peale. I agree! I did a post on The Power Of Positive Thinking which you can read here.
#9. Why you will fail in Network Marketing!
You Will Pre-Judge Everyone!
The first lesson to learn in Network Marketing is… It’s not up to you to decide if your business opportunity is right for someone else. Those you think WILL do the business, WON’T, and those you think WON’T are usually the ones that DO and end up on your team.
It’s imperative to present your opportunity to everyone, especially to what I call your “Chicken List”. They are the successful business people who own and operate businesses already. They didn’t get to where they are today by pre-judging others.
Remember, it’s all about timing, what may not be right for someone the first time you share your opportunity with, could very well change 6 months down the road. So keep a list of names and dates and be sure to follow up with those NO’s at a later date.
#8 Why you will fail in Network Marketing!
You Believe You Already Know How To Do The Business – Just because you have had success in something else.
You may be a successful business owner but just because you’ve had success in a traditional business, it doesn’t mean you will be successful in Network Marketing. This is a whole different beast and it needs to be approached differently. People who have spent most of their lives in sales present the biggest challenge. They need to retrained because “Sales” & Network Marketing couldn’t be more opposite. (although they don’t think so)
Learn from and follow those who are successful in your business. Follow the person who makes the most money and do what they do. Success can only follow!
#7 Reason why you will fail in Network Marketing!
You Won’t Adjust Your Mindset and Make it A Priority!
Adjusting your mindset from the corporate world of 9 to 5, never having to take home your work, having the weekends off is completely different than owning your own business. Now that you own a business, it’s no longer a M-F – 9 to 5 J.O.B. Even if you work your new business part-time, it needs to be on your mind full time… 24/7. Are you self motivated? Do you make goals and are you good with getting things done without having to be told what to do next? What about time management? You have to adjust your mindset and realize there will be NO paycheck at the end of the week if you do not make your multi level marketing business a priority!
#6 Reason You Will Fail In Network Marketing!
You Won’t Stay Consistent – You’ll Treat This Business Like A Hobby!
Do a Little, Earn a Little – Do a Lot, Earn a Lot! You cannot treat Network Marketing like a hobby. This is a business and it must be treated as such. Staying consistent means working your business everyday, even if its only for an hour or two each day.
If you want to be successful you have to keep in mind that this is a long term process. Network Marketing is NOT a get rich quick business as many profess it to be. So many people jump into a Network Marketing company because they are told it’s easy and they can be making big money fast.
For some, sure it can happen that way but it’s not the norm. It takes a consistent commitment of sharing your business with people on a daily basis, and not for just a month or two. So many people dabble, treat their business like a hobby for a few months and don’t see the kind of results they expected, get discouraged and quit!
Which leads us straight into the #5 reason you will fail in Network Marketing!
#5 You Let the Emotional Roller-Coaster Take Over and Abandon Ship Too Easily!
Ah the Emotional Roller-Coaster! One day you’re flying high because you just brought in a new Rep or landed a new customer, and the next day it seems like you can’t give your product away. People look at you like you’re from Mars because you are doing a Network Marketing business. Oh you mean a “Pyramid Scheme”, you hear again for the umpteenth time.
There are ups and downs in every business, in life, and in general. Things don’t always go the way we want them to. Imagine if Steve Jobs would have abandoned ship after hearing that the personal computer was a bad idea and that it would never end up in every household? Where would we be today without our laptops, iPads and iPhones?
#4 Reason You Will Fail In Network Marketing!
You DO NOT and CANNOT Accept Rejection!
If you have a hard time with the word N.O. this may not be the business for you! Some people won’t even pick up the phone to share their business for the “FEAR OF REJECTION” This is a numbers game, plain and simple. You will have to go through 20 or 30 NO’s to get a YES!
If you are thick skinned and don’t take NO personally you will do very well. Providing you have the right outlook and attitude along with the other 9 steps listed here. If you can teach yourself and your team to make a game out of it, which I call the “GO FOR NO” game, your results will be far better.
Set a daily goal of NO’s to go for each and everyday. Start off with a goal of 3 NO’s per day, this way you are at least presenting your opportunity to 3 people everyday. You can raise it to 5 or 10 NO’s later; heck I have one team member who’s goal is 20 NO’s a day. I’ll bet you can imagine who has sponsored the most new Reps in our group!
#3 Reason You Will Fail In Network Marketing!
Toxic Dream Stealers Take Over!
You will let other peoples opinion become your reality by allowing their negativity to seep inside your brain!
I first heard the term Toxic Dream Stealers in Mr. Hsu’s training a few weeks back. We’ve all had people close to us throwing-up their negativity all over us at one time or another.
If you’ve been in Network Marketing for any length of time you know exactly what I am talking about. If you are new to the world of MLM then I can guarantee its right around the corner. You know those people who will say that you will never make any money in your new business. It’s a scam, it’s illegal, or only the guy at the top will make any money. You’re not a salesmen, what do you know about running a business… You name it. Nothing but NEGATIVITY comes out of their mouth!
Who are they to take away your dreams, hopes, and desires to become or achieve whatever you set out to do? Your goals, dreams, and desires are yours, not theirs! Don’t let other peoples opinions and negativity effect your life’s dreams! Move on and as far away from them as possible. If they are happy living their life surrounded by negative thoughts and actions, they can go right ahead and wallow in it.
It’s my guess that, 95% of Toxic Dream Stealers are the ones working 9 to 5 in a J.O.B. that they not only despise, but bitch and complain about on a daily basis. Not exactly the teammate you are looking for anyway!
#2 Reason You Will Fail In Network Marketing!
You are a Toxic Dream Stealer Yourself! You don’t believe!
Either you let others cast a shadow of doubt on your dreams or you never had the faith in yourself to begin with. That tiny amount of doubt will allow you to talk yourself right out it! It goes right back to the #10 reason you will fail… You don’t have the right attitude and you aren’t a student of the power of positive thinking!
And the #1 Reason You Will Fail In Network Marketing is…
(drumroll please!)
You don’t have a strong enough “WHY”! You don’t know the true reason for wanting to do the business.
A strong WHY is the means to the end. It’s what will get you up, moving, and motivated everyday to become successful. Your “WHY” gives you that burning desire to accomplish your mission.
For some people it’s as simple as making a little extra spending money each month to feed their hobby. Maybe you just want to make enough to take that lavish vacation every year, or to put your kids through college. Others want to be able to take care of their aging parents or to have enough to provide for their kids and grandkids so they can live a comfortable life.
I know a woman who is determined to help battered and abused women and children. She wants to provide a safe haven and shelters all over the country to get them back on their feet. If you ask her what her “WHY” is, she becomes very emotional and will begin to cry as she explains it. That’s a Strong “WHY”. It’s what pushes her everyday to do the things she needs to do in order to become successful in her Network Marketing Business!
If your “WHY” is strong enough, the “HOW TO” will be easy! Think about that for a moment. If your desire to achieve something, or your “WHY” is BIG enough, the “HOW TO” get there will be easy!
Knowing your “WHY” and it being strong enough, will help you apply it to the other 9 reasons listed above. Therefore keeping you from becoming a victim of… The Top Ten Reasons You Will Fail In Network Marketing!
(drumroll please!)
You don’t have a strong enough “WHY”! You don’t know the true reason for wanting to do the business.
A strong WHY is the means to the end. It’s what will get you up, moving, and motivated everyday to become successful. Your “WHY” gives you that burning desire to accomplish your mission.
For some people it’s as simple as making a little extra spending money each month to feed their hobby. Maybe you just want to make enough to take that lavish vacation every year, or to put your kids through college. Others want to be able to take care of their aging parents or to have enough to provide for their kids and grandkids so they can live a comfortable life.
I know a woman who is determined to help battered and abused women and children. She wants to provide a safe haven and shelters all over the country to get them back on their feet. If you ask her what her “WHY” is, she becomes very emotional and will begin to cry as she explains it. That’s a Strong “WHY”. It’s what pushes her everyday to do the things she needs to do in order to become successful in her Network Marketing Business!
If your “WHY” is strong enough, the “HOW TO” will be easy! Think about that for a moment. If your desire to achieve something, or your “WHY” is BIG enough, the “HOW TO” get there will be easy!
Knowing your “WHY” and it being strong enough, will help you apply it to the other 9 reasons listed above. Therefore keeping you from becoming a victim of… The Top Ten Reasons You Will Fail In Network Marketing!
