I have often covered the topic of targeting the wrong people for your network marketing business. This is a major cause of failure in the industry. That, however, is not the only likely mistake you make when you rush to build a business with little or no experience; like an athlete who takes off before the start whistle.
The most likely scenario is that you are likely to spend money unnecessarily without getting a return on your investment. You are likely to get disillusioned and quit, believing that the claims that network marketing is the key to wealth is nothing but fallacy, a sort of scam.
Many factors work together to bring about success in network marketing. Compensation plan, the company, products. the leadership of the company and the team you join all determine whether you succeed or fail.
Once you learn to evaluate different network marketing companies, compensation plans, products, teams and the support they provide their teams; you sometimes realize that the opportunity you have signed up for is unlikely to take you where you want to go. This gives you a chance to choose an opportunity carefully, one that will work for you.
Chances are that if you had already rushed to start building your team, you are likely to find it more difficult to move to a company that fits better with your personality and your goals, even where you are almost assured of failure if you continue. You will have the conviction that you have already put in so much without getting returns, so you will most likely continue chasing a mirage.
I remember a case I witnessed some years ago. A single mother who was struggling to provide for her family after losing her job was introduced to network marketing.
What if she had taken the time to learn and compare different opportunities before putting money into an opportunity that she had little chance of succeeding in? She could have made better choices. Attracting the right downlines who will build a successful team is largely dependent on you and the value you add to their lives.
People are likely to take you seriously and to gladly join your team if they view you as an expert. If you can help them to evaluate different companies and compensation plans, show them why one opportunity is likely to work better for them than the other sort of opportunity; they will be more likely to join you than if you have no clue why they should join your opportunity rather than the one someone else is promoting.
If you have the facts on your fingertips: what do they need to do to qualify to earn, how do they build a successful business; people you tell about the opportunity are likely to pay attention to you and to finally join your team if they are looking for an opportunity to earn extra income.
Like it or not, there is a lot of negative information about network marketing out there, so you better be well equipped to counter it with facts before you can expect to build a successful business. This free webinar is an eye opener about the benefits of network marketing. Click on the link for instant access: https://attendee.gotowebinar.com/recording/5016662923024363276
Competence is important for success in anything you set out to achieve. Network marketing opportunities vary widely all the way from the compensation plans to the products and requirements for earning the top incomes possible, and you are going to need to have the competence to guide the people you sponsor in these matters that are crucial to their success.
If you just convince people to join your downlines yet you cannot provide them the support to make it work, you are going to be building your business on a foundation of quicksand. Retention rate will be very low even for those who had good chances of success.
This article is written by Susan Catherine Keter, Life and Health Coach, Trevo LLC, USA