Starting a business is a daunting task. It takes a lot of capital, a lot of willpower, a lot of failures, and a lot of persistence. Most people have a little bit of one of these things, but very few have enough of all of them to get going. And even when they do, it’s rare for them to be successful – people typically make a handful of crucial mistakes that really interfere with their success. The best way to learn is to make mistakes, but the best way to do business is to avoid them. And, of course, the best way to avoid them, is to know them. Here are three of the biggest mistakes that people make when starting an MLM business.
Putting Everything Into It
Now, we don’t mean to be pessimistic, but it’s a little bit foolish to put all your eggs in one basket. As much as we’d like to assure you that your operation will be successful the first time, we can’t. Maybe it will be. But, the simple fact of business is that it takes time. Amazon was unprofitable for seven years – sometimes, even great ideas need to incubate. This isn’t a bad thing: it’s just business. So, when you start one, make sure to invest what you can, not everything you possibly could.
Always Going for the Hard Sell
People like to buy. They don’t like to be sold to. So don’t sell to them. This sounds paradoxical, but it works. You can’t just push your product in people’s faces – that’s a great way to turn the customer off to you, your product, your service, and MLM in general. So, try instead to get to know your customers, through social media marketing schemes and the like. This way, you’ll know exactly what they want, what they need, and what they want you to do for them. This means they’ll trust you, which, in turn, means they’ll be comfortable buying from you or opting into your opportunity. This makes money for you and makes the whole process a whole lot easier.
The final common mistake that people make in MLM is giving up. You know it’s hard to make money in today’s day and age – business isn’t easy, after all. But just because success isn’t guaranteed to be immediate, there’s no reason at all to give up after one, two, or even three hundred tries. Every mistake made is a lesson learned, and MLM takes work. As long as you avoid the above two problems, keep learning, and keep doing what you’re supposed to be doing, you will make it. Remember – success is about persistence. Some people have innate talent, and others have a whole lot of luck, but what makes the difference between the top dogs and the little guys is this: The top dogs kept on barking. So keep barking, and incorporate this knowledge today!
Now it’s your turn!
Have you made any mistakes that you caused you to lose a lot of money? What mistakes have you made that you wish you can take back? Please leave your feedback in the comments section and I look forward to reading them!