Network marketing is a solid business model that can make anyone a very wealthy person, regardless of age, experience, location, ethnicity, gender or education. Of course, there are many factors that attribute to the success or failure of a network marketing or direct selling business. Here are a few of the key reasons why people fail in this industry:
1) Poor training. Starting your own business can be scary. If the company doesn’t have a solid training system in place, new consultants may not get up and running with the best start. This isn’t a business that most can do alone, so providing a system for launching and supporting the consultant’s business is key. My company has won several awards from the DSA (Direct Selling Association) for offering state of the art sales tools and a multi-million dollar business management suite.
2) Unwillingness to be trained or coached. A company can have a tremendous business system, but if the new consultant is not willing to follow through with training or be coachable, then it’s likely the new consultant will fail. Even the most experienced network marketers should go through the company’s start-up training, so especially if you’re brand new to this industry…to be successful, you must go through the training and commit to being coached by your sponsor.
3) Quitting too early. This is very likely the biggest reason distributors fail in network marketing. Some people think they can just “dip their toe” in the business for 6 months and be making thousands of dollars practically overnight. This is NOT the case and if someone tells you that…RUN AWAY QUICKLY. Yes, there are rare situations where this has, can and will happen, but it is highly unlikely. Give it a year. If you’re not seeing a return on the work you’re putting into your new business after 12 months, then sure, throw in the towel. If you’re following the system, remaining coachable and leading with a servant attitude, I’m confident you’ll be seeing success. The great thing is, as you keep progressing, your check keeps growing…so in 5 years, you could be making per month what it takes most people 30 years in Corporate America to accumulate as a monthly paycheck.
What do you think? Why do you feel some people fail in this industry?