It is estimated that 1,000,000 people a day are looking to find a home based business and people are joining businesses of all kinds in staggering numbers, yet the failure rate is still 96%. MLM’s and network marketing companies are popping up everywhere, too many to even keep track of. The business model of many works in a big way, and based on experience, the earnings can be substantial.
No matter what I do, it just isn’t working, some gurus are succeeding like crazy, or so they say, is it all a scam and should I just cut my losses and quit?
With all of the information on home based businesses available, why are so many still failing? Is it that the business model only works for the companies themselves. Is the information and training just that bad? Are people just lazy or think just because they signed up, money will just begin to flow in?
One of the main reasons people fail in MLM’s and network marketing companies, even if the business they join is a solid company with a good commission structure is this: They really have no proper education in the art and science of marketing or how to actually run a business. Individuals join based on a desire to make money and a way out of their present situation, to better themselves, nothing wrong with that, in fact I applaud it, as I took the same path. I myself however after several years of hard work and dedication had dismal results.
One thing I began to notice in watching and listening to the experts, big names, gurus etc., was that there seemed to be a common theme to their success, that common theme was education. They all talked about it, Perry Marshall who many know about, the Google guy, talked about it a lot. He said his Amazon bill alone was usually $300.00 a month. In the back of my mind I knew he was right. I began to read and study everything I could get my hands on and little by little things began to improve. I knew the business model of MLM and network marketing was valid, after reading things by people like Donald Trump, Robert Kiosaki, and Bill Gates, all stating that if they had it to do over, they would have chosen the MLM or network marketing business model to raise cash flow for their business ventures.
Another valuable thing I learned was that for all MLM’s and Network marketing companies, they all worked on the same principle, they know that the average distributor will ring in 2.5 reps, continue to use the product for 3-6 months and quit, and they are good with that. It’s a business model that works for them.
Let me guess, you joined your new home based business or MLM and your up line tried to do some or all of the following:
Make a list of family and friends
Buy a bunch of training materials, CD’s, brochures, DVD’s etc
Host home parties
Do 3 way calls with your up line
Drive all over town to meetings
Buy duplicatable corporate websites
Post ads on all the free Internet sites you can
Find and join traffic exchanges
Find and jon safelists
It just isn’t really working is it? The reason that the few successful home based business owners and network marketers are successful is that that they take the time and often times the expense necessary to educate themselves in the art and science of marketing. Many of these effective principles have been around for a long time, some of the best marketing books, and ads for that matter were written back in the 1940’s and 1950’s.
A person has to understand the psychology of the basic marketing process and the elements within the marketing process , things like intro, offer, value, benefit(s), close. You also need to understand how to effectively communicate with people. If you’re working on the Internet, you need to learn to write effective ad copy, or hire a copywriter and properly construct either a data capture page and/or website, and then learn to drive traffic to that site.
A lot of this has to do with positioning yourself as the expert, not your up line. People want to deal with someone who knows what they are doing. Running a successful business of any kind requires a skill set is the bottom line. It also requires, commitment and organization. Proper mindset is also a key factor along with realistic goals and expectations. Knowing what I know now, I would have sought out the education first, then looked for a business to join.
Do yourself a big favor, if you are considering starting a home based business, or joining an MLM or network marketing company, know what you are getting into. If you determine this is what you want to do, educate yourself by developing a proper skill set, an ongoing process by the way, and be sure you are willing to follow through with commitment. The last piece of advice I can offer, and this is another big one, choose a product or service you are passionate about yourself, it will help you through some of the tough times.
By: Dave Knop
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Tags: Amazon, Art And Science, Back Of My Mind, Business Individuals, Business Model, Commission Structure, Dedication, Dismal Results, Earnings, Failure Rate, Google, Gurus, Home Based Business, Home Based Businesses, Home Business, Losses, Mlm Marketing, Network Marketing Companies, Proper Education, Staggering Numbers
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Networking marketing is a rewarding industry, if you learn how to work and manage it. The benefits can provide for your family for years to come, but you have to understand how to get the upper hand. What explains the fact that you find some people who tear it up in MLM, while others fail time after time after time? This may not be the whole answer, but I do know that understanding personality differences makes a huge difference in the results people get in network marketing.
The psychologist Carl Jung wrote about the 4 personality types nearly a hundreds years ago. The basic idea has been examined by quite a number of pretty smart people. And today, in just a few hours’ time, you can start from zero knowledge and become very good at identifying the 4 different personality types within just seconds of meeting them. It’s pretty amazing difference this makes to the results people get. When you can meet someone and quickly understand how they think, what motivates them, what they absolutely do not like, how they act in certain situations … you are in position to build a trust-based relationship much more quickly than you ever could before. And what really makes a huge difference is that the individual being trained must actually LISTEN to a prospect in order to tell which personality they are. When a network marketer actually begins to truly listen to others, magical things happen. The people you talk to notice that you are someone who really cares, someone who is not just out advancing your own agenda. Best of all, this skill is quick and easy to learn … and so easy for you to teach to others. That means it is a very duplicatable strategy, which you can use to build your network marketing income.
When you talk to anyone about joining your MLM business, one of the most important factors in their mind is the training. A prospect wants to be certain that they’ll get effective training, and that it’s easily accessible for them, and that it’s not an overwhelming course. And the quicker they can make money, the better. If your training takes too long, you will lose them. So they need to see that it’s quick and easy. Part of the thinking here is that they quickly realize that they will need help training the recruits they bring into the business. The longer the training takes, the less time they will have to actually bring in new people. What works best is to have a team that trains all the team members and the new associates they bring in. Have them listen in on some of your training calls and show them all the help they’ll get. Make sure they have your email & phone number, plus your sponsor’s, so they can get in touch with you whenever they need to. New people need to know that you will be there for them.
You can read more about these ideas and many others in Michael Dlouhy’s ebook, “Success In 10 Steps.” It’s been a very popular read, especially for frustrated network marketers, having been downloaded 100,000 times now. The author blows out of the water the widely-accepted idea that you should begin by recruiting friends and family. That plan is a big loser. MLM’s big failure rate means you get a lot of family members upset or angry with you, and that’s not good. And the fact is, you’ll eventually run out of people you know and have to promote to a cold market anyway. So you may as well start there. Save your friends and family for later, after you’ve proven you can build a profitable business. A lot of worthwhile ideas in this book.
By: Ivan AlvarezTags: 4 Personality Types, Different Personality Types, Effective Training, Find People, Home Based Business, Important Factors, Mlm Business, Network Marketer, Network Marketing, Networking Marketing, Personalities, Personality Differences, Psychologist Carl Jung, Rewarding Industry, Time After Time, Trust Relationship, Understanding Personality, Zero Knowledge
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The reason why most people have problems with their network marketing business is because they don’t truly understand how the industry works. Often, this is because they were sold a pack of lies from some company that reeled them in on false hopes and promises. Some simply joined because they were sold on the idea that they could quit their job and work from home if they just buy a distributorship and call some leads.
It’s a classic scam; you are told a lot of promises in the beginning about what a great opportunity it is, how you don’t need any experience to begin with and you will be have a residual income working hard for the first few years. However, once you are inside, you will face many challenges and realise that there is no truth in it.
Mind you this business is fun and simple if you let it be, but it will take the tenacity, dedication, and professionalism to earn six figures incomes.
Did you know that 95% of people who get into network marketing have no prior sales experience?
The majority of the people who join this industry do so without the intention of becoming a professional network marketer, yet that is exactly what is asked of you if you wish to make a full-time/six-figure income.
This leads to serious difficulties as networking marketing does involve selling and marketing, regardless of what some mlm distributors may have said to you to get you to sign up.
This is one of the biggest mistakes that people make in network marketing. They think the product will sell itself while they just share the company and products information. Yes, mlm is indeed a simple business but it does take the tenacity and professionalism to make it a 6 figure income.
Your Business Has Nothing To Do With Your Company.
Your Job/Business is Marketing
Yes, you heard me right. Your business is marketing.
He, who markets and promotes best, wins.
Success has got nothing to do with the best company, best product and the best compensation plan.
Another common mistake is to think you will be able to sell to your friends and family. Many networking marketing or mlm programs encourage you to share these great opportunities with your friends and family first when in reality, your friends and family may not even want or like the product. If you do make sales, it may be from people that feel obligated or are just giving it a try to get you off their backs. Don’t depend on your family and friends to make you rich from an mlm program. Even if they are kind enough to buy from you, chances are you won’t become a millionaire in this way.
You see, this is an industry of marketing and promotion pursued by people who have no idea how to market or promote.
The fact is true mlm success comes from training, experience, expertise and even practice. Can you make a good living from it? Sure, you can. Can you be highly rich and successful? In time, yes you can. But don’t expect it to be an overnight miracle success. And don’t think that you can achieve this without some work involved. If network marketing is so simple that anyone could do it and products sold themselves, wouldn’t we all be millionaires?
As I mentioned earlier on, your business is marketing. This is why you must align yourself with a group of marketers that is really going to show you the common denominators of their success and leverage on their experiences. This will eliminate 90% of your learning curve that typically causes most people to fail and give up on their initial dreams.
I just want you to understand that if you are not creating a constant flow of leads day in and day out or if you are not putting your business in front of 5 to 10 people a day, your dream will remain just a dream.
What about all the success stories you hear in your company? One way or another, they found a way to be in front of lots of prospects EVERY day passively. How? They either leveraged other people on their teams or from their systems.
Simply put, traditional marketing is an ineffective ’shotgun’ marketing strategy because a scatter shot won’t get you very far and it has become more expensive. The public is bombarded with commercial ads and making matters worse for businesses is that today’s technology have literally enabled people to put up a firewall around their lives.
Note that, I am not against the traditional form of network marketing. They have their place and importance. In fact, word of mouth has the best conversion rate. Nevertheless, you are pretty blind as to whom you are addressing with traditional marketing. You have no idea of their interests, their tendencies, and more importantly, if they are at all likely to be interested in what you have to offer. You simply cannot sell steaks to a vegetarian!
You probably already know this basic stuff. Get to know your prospects by building a relationship with them. However, this is one skill newbie find it hard to grasp all at once which make them reluctant to go out to talk with people.
But, there is a solution which is still not known to most business owners.
What Does Online marketing Mean To You?
Bottom line: With today’s advancements in technology, if you own a home business and you are NOT marketing online, you won’t be a business owner for much longer.
Online marketing changes that and gives your marketing ’sniper’ like accuracy. With online marketing, you aren’t interested in marketing to everybody. You are only interested in those who have an interest in what you have to offer and you will only market (spend money) on those who have an interest in what you have got.
How do you do that?
The quickest way is to use Google to tell you who are interested in what you have got because over 90% of internet users are using Google for searching. This number is growing at a phenomenal rate each year. You bet Google can also tell you what a particular group of people is interested in. This is the key!
In short, building a business online is so much more effective. You can be in front of thousands of people in a short period of time. That means your customer list keeps growing, every minute without you. Yes, to begin it will take great effort and time in creating your capture page, sales letters, follow-up emails but you only do this once.
Now that’s leverage.
Are you envious of all those people who make a living using the internet? Please don’t. You can have what they have achieved if you are willing to give it a go. Building online business is not rocket science although it has a bit of art and science to it.
You have to look at marketing as a funnel. You start with a wide top that captures people who are interested in the product you have to offer and you qualify those people more and more at each level down of the funnel.
As you proceed with your marketing, your prospects proceed further and further down that funnel, qualifying themselves more and more.
Ultimately, you end up with only the hardcore who are attracted to join your business and those whom cannot wait to purchase your product.
And all of this can be done automatically and cheaply once you setup your attraction marketing system.
If you do this correctly, your marketing costs are self-funded which induces your potential customers to pay for your marketing, regardless of whether they buy your product or not.
By: Jackie KhorTags: Challenges, Dedication, Distributorship, Earn Money, False Hopes, First Few Years, Full Time, Incomes, Intention, Mlm Business, Mlm Distributors, Network Marketing Business, Networking Marketing, Pack Of Lies, Prior Sales, Professional Network Marketer, Professionalism, Residual Income, Six Figures, Tenacity
