Network marketing is all about building a strong down-line that can stay motivated and also build their own down-line so that the team as a whole can grow into a massive down-line. Often time’s new distributors will sign up and expect their team to grow on their own, which is not how the work is done in this profession. This is a business as such must be treated so. Lead generation is the back-bone of each business, if that business has to survive and your network marking business is no different for you to see its survival. You may have the best product in the world, but if no one knows about it then, you are just like anyone who is not in business. You have to find people that are interested in your products and business opportunity to offer them that opportunity. You have to know where they gather so that you can have targeted lead generation system. Once you find where they gather then, you have to be consistent in marketing your products and the business opportunity. You don’t just do it once, twice or thrice but you must make a habit to continue offering the opportunity to different prospects that are looking for what you have to offer. If you can avoid this and teach your down-line to avoid the same then, you are sure your down-line will sky rocket.
Inconsistence Use of Products
You can not market something you do not believe in. You have to believe in the products and that has to be shown by you using the products themselves. How can you convince someone to buy from your store while you go out and buy from a different store! It does not work in this profession. You have to be the product of the products. If you are selling weight loss products, how can you convince someone that your products are working when each month you bulge? If you are selling personal care products then your skin must be a living testimony that your products can do wonders. Actually our profession is also marketed by the word of mouth. Use the products and that will trickle down to your new distributors as you will be setting a good example for your team. New distributors often expect their team to use the products while they themselves are not ready to do the same. If you find yourself in that situation then know that you are just making for yourself a recipe for disaster. So the first thing for you as a new distributor is to work on your personal product story and sell your story to your new prospects. Then you will never struggle with your business.
Lack of Proper Follow-up
Proper follow-up is very critical in our profession of network marketing. Some people can get it right on the spot while you are presenting the business opportunity. Some will need an initial follow-up, while others will need two follow-ups. What you must know also is that as the time elapses their interest may begin to diminish on the opportunity. Follow up within the next 48 hours of your prospects viewing the opportunity. Learn to follow up by providing more information as some may need more information to make up their minds to get started. If you don’t provide the rightful information know that someone will give the information they need and you may end up losing your prospect. One prospect lost may cost you a lot of million dollars in your life-time. As you follow-up don’t over commit as you may lose focus on bring more prospects to view your opportunity. If you have an auto-mated follow up system, then plug them on your system and let it do its job while you continue to prospect new people.
Lack of Duplication
The success of your team will depend on your success as a team sponsor. The team must have fun in doing their business. You must be willing to teach your team all that you know and encourage them to develop as individuals and members of the team. They should be willing to win. The first step in network marketing is to use the products and get results from the same products. The next step is to recruit people that are interested in your products and the opportunity. Step 3 is to teach them to do step 1 and step 2. Step 4 is to repeat the process again and again. New team members tend to copy what their sponsor is doing. You need to have a plan for your individual personal development. Have you ever wondered why everyone wants to be sponsored by a guru, while not many do want to sacrifice to be the guru themselves? Positive people attract positive people and the negative will attract the negative to them. So work on your personal development. The success in network marketing is achieved by the volume you personally produce and that one produced by your team members. You can work on recruiting, but if your team is not producing volume then you are no different from someone without a team. Start by producing personal volume and the team that you recruit will copy what you are doing and team volume will grow as the new team members will be brought to a culture of creating volume.
Wondering away from the Goals that you initially set
We are often told to set the goals when we start a network marketing business. It could either be wellness or financial, or both, but how many of the new recruits keep to their goals? We are used to setting resolution at the beginning of the New Year, the resolution that vanishes without leaving a trace on the third month of the year. Those same habits the new recruits come with them to the network marketing business they just joined. When you set your goals, try to discuss them with your sponsor to see if they are realistic and keep on referring to them to see if you are still on track. Try to hold someone accountable of you achieving your goals. Sign your goals and give a copy to someone who will be monitoring your progress as you proceed along. It is a journey so you have to keep on referring to the road map. If you have set your 5 year plan, then divide the five year into steps that you will do on annual basis. The annual basis can further be divided into months, and the months into weekly, and weekly on daily basis performance. In that way you do not need to wait for five years to see if you have achieved your goals. If you under perform in one month you can raise your limit on the following month so that you cover up for the following month. In that way you can be show to achieve your five year plan.
Losing Focus on the Way
They are so many opportunity being offered on a daily basis such that if the new distributor is not focused, he or she may move from one company to another, or change so many companies in a year, without even learning the compensation plan of any of the single company. This can happen because your contact information may be sold a dozen times over the internet. Everyone to whom that information is sold will contact you with their opportunity claiming to be the best on the market. Almost everyone thinks their company is the best, offering the best products and the greatest compensation plan on the market. I have come to realized that people do not join the company, the products or even the compensation plan of the company. They join you. Have you ever wondered why people would prefer to be sponsored by different individuals of the same company? If you have decided to join company A, just do what your sponsor tells you to do. Give yourself first to the company, the products, the compensation plan and then to your personal development so that you attract positive people on to your down line. If you want things to change around you, then you have change first and the rest will follow suit. Often times we want our distributors to be the best they can be while ourselves we are the same old fellows that we used to be 10 years ago. This profession is not a “Get Rich Quick Scheme”, you have to work for it. There is a plan that you need to develop and follow if you want to succeed.
Remaining on the Comfort Zone
A comfort zone is an area where you feel secure, though you may not be free. You may not actually be secure but you have the perception that you are safe. Nothing forces you to take any action because you are ‘okay’. Lot of people have remained struggling in their jobs until they lost them. They were comfortable with their small salary because it was guaranteed at the end of the month. Whether they finished it on the third day after the pay day it makes no difference, because they are sure that another month-end is coming and they will receive that meager pay cheque once again. The circle continues. It is a rat race and we are all captured in it until we find a way out of it by finding a way out of it. I have seen people who lost their jobs and within two years they are living a dream life that only most of us can dream about. It was because the circumstances could not allow them to continue on their chosen path.
Producing Volume on your own
Network marketing is all about team building. You step up the ladder as you help others step up behind you. In network marketing you are rewarded by the volume that you and your team produce. You move from one rank to another as you continue to increase your team volume each month. This is total of the volume you produce and that of your team members. Create your own volume by using the products and selling to people who are interested in just using the products. Teach the people that you recruit into the business to do the same. This is how the team volume is being increased. Most new distributors find themselves having to produce volume on their own. This method can work to advance on the starting ranks of the marketing plan, but to climb further you need to have a team of distributors that are also producing volume. People who joined seeing the opportunity to live lives of their dreams, end up being consumers and they will just be stuck at the beginning of the compensation plan.
Lack of Personal Development
It is not about the best products of your company or the best compensation plan in the industry that is going to make you succeed. It is all about you. For things to change around you, you first must change. For things to get better you have to get better first. Positive people attract positive people and that goes for negative people attracting the negative people to them. Personal development is very critical in your success in network marketing. You have to have a personal development plan as an individual and also as a team player in your group. Your new team members must find a plan to plug in. Without personal development forget about being successful in this profession.