How To Avoid The 5 Reasons So Many People Fail In Network Marketing.
Savvy Internet marketer and Success coach Mick Lolekonda shares 5 solutions to 5 reasons why most people fail in the home business industry.
After analyzing the network marketing home business industry, 5 factors seem to consistently explain the overwhelming failure rate of 95%. Those 5 factors even though common can be addressed with simple solutions.
First, most people considering starting a home business are blinded by the idea of making big money overnight, and the illusion that one doesnít need to work in order to start making money. Most donít even consider doing their homework before joining a company, self-analyzing their strengths and weaknesses, and their work-related likes and dislikes. Since most people donít even take this step, they end up choosing a home business that isnít a good fit for them. Only when they put in the work do they realize that they donít like cold calling, selling, closing prospects, or making face-to-face presentations. So itís crucial that you assess the fit between you and the way you need to operate a home based business to earn a living. It will save you time and money. But remember that similar to a professional career, you may need to go through a few companies before finding the right one for you.
The second reason for failure relates to the way society has conditioned us. Most of us live in a ďfast foodĒ society and we look for instant gratification. Unfortunately, more recently thereís been an explosion of companies claiming to turn people into overnight success. As a result, people come to expect it as they join a home business opportunity. And as weeks and months go on, and people start earning little to no money, they quickly realize that their new found opportunity actually requires work, time, and money to generate their expected level of income. As they patience grows thinner, most people donít give themselves enough time to go through the learning curve, the trial and error phase, and then give up. As a rule of thumb, you should give yourself 6 to 7 months after implementing your companyís daily method of operation guidelines before seeing results.
Having the wrong mindset is the third reason for failure. Most people enter the home business industry with an employee mindset and donít adopt a business one. For several reasons, this alone can set a new home business owner up for failure. For one they arenít responsible for their day. Their entire day and daily method of operation is structured for them and they can expect a paycheck at regular intervals. The big shock comes as they start a home business and realize they become responsible for every aspect of their income generating activities, and creating their own systems. Also, as a new home business owner, there isnít an exchange of time for money anymore. Which is the thing most people canít handle: the idea of not seeing instant monetary results for the daily work input. In this instance, you need to be focused, consistent, and persistent with your daily income producing activities day in and day out.
The inability to find the right leadership in a sponsor can cause a new network marketer to give up on their opportunity. Most people have no experience with a home business. The main reason theyíll stick with an opportunity is if they get the support and help they need from their sponsor. Especially when they need guidance, have more money going out that going in, and no support, most of them will give up no matter how great the opportunity is. So itís necessary that you do your due diligence and put sponsors on the hot seat. Ask them questions that are important to you, google their name even. This will help you make the most informed decision regarding their ability to make you go through the learning curve quickly.
Last but not least, susceptibility to negative influences lead people to give up on their home business. In this case, itís a state of mind and those negative influences may come from friends and or relatives. Only if you allow yourself to be affected by them, will you fail in your new found venture. If you believe being a home business owner is your path, then follow it and stick to your plan.
You can contact Mick Lolekonda at (+1) 780-628-2593 or firstname.lastname@example.org
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ABOUT THE AUTHOR
Mick Lolekonda is a†leader in the home business industry†assisting others in†successfully building †residual income with†home businesses.†Mick's Websites include†www.whoismick.com, www.thiscanhelpyou.com.