Biggest Mistakes made by Network Marketing Amateurs
- Hoping for a free ride. Too often people think that by signing up one or two “key” people they will be all but done and enjoy a big bonus check forever. The other free ride lie is when you are told by your upline that you will inherit a huge organization or downline from them. While the comp plan may allow your upline to build underneath you that won’t make it free money. It is going to take work and time to build a profitable organization and any thought that you can get around that is nothing more than a lie.
- Ashamed to be a Network Marketer. In order to have Huge Break through income in this business you must make it a part of your life and who you are. All too often people see the earning potential and decide to get involved but they are never truly committed, only interested. The products, and the business need to become a part of your lifestyle if you want to have the BIG residual income. That doesn’t mean this has to be the only thing you do for 40 hours a week, but it must become a part of your lifestyle.
- Forgetting this is your own business. Unlike a 401K or Mutual fund your Network Marketing business requires attention. You would not buy a fast food franchise and expect it to send you a paycheck if you hadn’t done any work. Your Network Marketing business is a business and like all other business ventures it requires: 1. An initial investment. 2. Ongoing Overhead 3. Training by Experts 4. Time & Energy (equal to the rate of growth you desire) 5. Branding & Advertising. If you aren’t willing to treat it like a business don’t expect to be successful.
- Not Patient Enough. Getting out of the business in less than 6 months is always a mistake. There are four phases to this business and the first is the investment stage. Just like any other business venture in the first 6 months are so you will invest more time, money, and energy into your business than you will get out. That is normal and to be expected. If you are in the right company and working the system correctly after 6 months you should enter the Momentum stage and begin to get paid well for what you are doing.
- Looking for people who need your business. A big mistake that many people make is to look for the people who need your business/product and forget to look for the people who your business needs. A CEO of a mouthwash company would not recruit employees based on the criteria of having bad breath. It would be important to tell all people with bad breath about your product but as the CEO of your own Network Marketing business you need to look for the people who will help your business grow. The people with the international contacts, existing network, business sense, track record of success, etc.
- Massive Pro-Activity without Massive Training. In this business you need a strong concentrated but balanced dosage of both Pro-Activity and Effectiveness. Pro-Activity only takes committment and can be done by anyone. Being effective on the other hand requires going through the trianing material and finding a coach/mentor within the business to hold your hand. One without the other will prove your doom. Both together will make you un-stopable.
Jacob S. Paulsen
Excellent post and guilty on every point in the past. I’ve changed my attitude with Numis Network and am going for it!! Thanks for posting!!
Great Blog with highly concentrated and very necessary, straight to the point information. I really appreciated your input!!
As leaders, one thing we must do is set the right expectations during the prospecting phase, and when new team members get started. That would help eliminate some of these mistakes… Although they’ll always be those who become victims to some of these. Good stuff Jacob. Thanks for sharing.