MLM mistakes are the key reason why most of network marketer fail in this industry. Are you in MLM industry for a while but have not found any success? Then it is time to evaluate the things you do and ask yourself if you really follow the strategy and the company has provided? Or, are you trying to reinvent the wheel by making up your own system?
You can work hard and committed to the effort, but are you putting your efforts into things that really matter?
To help distinguish what you did wrong, I will share with you the common MLM mistakes to avoid when building a successful business.
MLM Mistakes #1
Targeting the wrong audience is a common MLM mistakes for network marketers, and it crops up in many forms. Have you been pitching your business for too long to people who aren’t really interested and scared to go outside your comfort zone and try a new audience? Do you spend too much of your time talking to skeptics, while others snap up the really committed and interested prospects? Networking with new people and in new environments can go a long way toward revitalizing your business.
MLM Mistakes #2
If you do not have team spirit, how do you expect to succeed in this industry? The core of MLM is to network amongst your team while working cohesively towards the same vision.
Network Marketing is the act of gathering a group of people for mutual benefit. It generally answers the question “How can I help?” rather than “What can you do for me?”!
Do talk to the team on a regular basis to help you get new and fresh ideas about the business and holds you accountable to staying plugged in with the daily activities that will get you closer to your goals.
To avoid common MLM mistakes, conduct a weekly group meetings with your team and use this time to evaluate each other’s performance, provide feedback, make suggestions and share knowledge to improve the overall productivity of your group. Remember, that this meeting can be done through webinar or through a team conference call.
MLM Mistakes #3
Unfortunately, there are an increasing number of network marketers who misleadingly prospects to attend a business opportunity meeting. They invite friends over for a seemingly weekend bonding, only to take them to an opportunity meeting without telling them so. What’s worse, their prospects show no interest at all for the business. “Kidnapping” your potential partners is not the way to go. You are not just wasting your time, you are also wasting yours. You should invite prospects that are already aware of your intentions and have expressed interest beforehand.
To avoid this common MLM Mistakes and deceptive practice, be very clear with your intentions and follow your companies system to invite your prospects to a business opportunity meeting. In fact, by being transparent and honest with your intentions, not only you will save time, but you’ll also attract a higher quality prospect as well.
MLM Mistakes #4
The mistake that the overwhelming majority of network marketers make is that they pitch their business and try to shove it down everyone’s throat. They try to brag about their company’s founders, and how much experience they have. They try to overwhelm their prospects with information about how great their product is, and how their product is the best thing since sliced bread. The most common MLM mistakes they talk about is how great their compensation plan is, and how no other company has a compensation plan like theirs. The reality is nobody cares and pitching your business in this manner will give you terrible results. Keep in mind, assuming your targeting existing network marketers (which you should because they are your target market), they ALREADY have a business that they’re trying to build. They don’t need another one, when they’re probably already struggling with the one they have. In addition to that, spamming people and posting random links all over the internet, will not only yield you terrible results, but chances are, you’re probably ruining your credibility at the same time. Always keep in mind that people don’t join companies, products and compensation plans… They join people! So understand that when you’re pitching what’s in your company’s products, or explaining how your service does what it does, you’re actually talking about stuff that won’t help you sponsor the person you’re talking to.
MLM Mistakes #5
Most people change from one company to another, hoping to get a business that will make them rich ‘instantly’. Instead of focusing on one company, choosing to diversify and put all your resources to waste by diverting their attention in various ways.
If you really want to avoid the usual this common MLM Mistakes practice, I suggest you focus on a stable company that you think is the gateway to success, and provide 100% of the time, energy and effort.
Most businesses take 2-3 years to build a successfully, so the time commitment to give everything you have at that time. If for any reason, you find that you give 100%, but changes or flaws in the company changed its vision to achieve their goal, then and only then you should begin to consider changing to a new company, which you can be 100% focused again.
Success requires focus, it simply means to follow one course untill successful. If you know you jump around without a clear focus, then now is the time to intentionally change this bad habit.
Of course that doesn’t mean that you shouldn’t build multiple streams of income. It’s just smart business to leverage affiliate products and programs to monetize prospects that say ‘no’ to your business opportunity. But when it comes to an actual primary MLM business, my recommendation is to stick with one and build it with all your focus.
MLM Mistakes #6
Personal development is the first step you should invest in to accomplish success in building your mindset. Although you will be given tons of training, tools and mentors, your success depends on your ability to have the right mindset.
Personal development training is very encouraging to be applied to each individual to participate in the industry. From the team meetings, to business presentations, you’ll find that Personal Development is the foundation for which nearly all Network Marketing companies are built.
If you neglect and ignore this common MLM Mistakes practice, expect downfall to follow. If you haven’t enforced it on yourself, then this might be the reason why you’re not thriving on success.
For you to move forward, you need to learn the basics of personal development: attitudes, skills and leadership. Keep in mind, personal development is an ongoing process. So spend a lot of time to continue to feed yourself positive reinforcement and surround yourself with successful and motivated people.
Remember, as a leader, your goal is to create a value gap between you and your prospects so they have a reason to follow you. Without diving into Personal Development, you’ll soon losa any value gap you currently have and your team members will start to look elsewhere for value and leadership.
MLM Mistakes #7
Easily swayed to rejection and negative outside influence are another common MLM mistakes. Do you know that our warm market can be our worst enemy? Before we proceed to the cold market, it is common practice to share what we know and what we have with the people closest to us, which is generally family and friends.
Experiencing rejection directly from the very people whom we least expect can be very hard to accept. Not only does it kill the enthusiasm, the negative reaction can also create self-doubt especially for beginners.
You may not control what other people will tell you or how they will react, but you can control your response to it. Prepare for them by equipping yourself with optimistic viewpoints all the time, and educate yourself on the multiple ways to deal with rejection. I remember this famous phrase by the great Jim Rohn that “it’s just the way it is” because some just don’t stay (it means not everyone you talk to will be interested with you’re offering). It’s just one of those thing and you got to learn the law of averages.
It’s important that you keep the right perspective at all time. Personally, I never take rejection personal and you shouldn’t either. We’ve all heard the saying before – it’s business not personal. Remember that as you build your business. If your uncle says ‘no’ to your business, he can still be your uncle. If you’re brother says ‘no’ to your business, he can still be your brother. To be frank, this is the reason why I use Attraction Marketing in my business. I only want to deal with people who want to work with me and I don’t need to ‘chase’ anyone.
Remember, no one can steal your dreams and enthusiasm unless you let them. Network Marketing is a phenomenal industry but you need to avoid the mistakes above so you can significantly increase your chances of success.
I highly recommend those who want to be in this industry or who has been in this industry to use Attraction marketing for both offline and online to build your MLM business.
If you find value from this post, do share and comment!
I’m an entrepreneur who doesn’t want to settle for anything but the best.
I always love connecting with sharp, like minded people who want more out of their lives. If that’s you, then we’re going to get along just fine!
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