While it is hands down one of the most powerful concepts for creating a financial windfall in record time, there are also a million and one stories of failure for every single MLM marketing success story you’ve ever heard.
The fact of the matter is that this industry can completely and totally cripple you right off the bat unless you pay close attention to the following seven pitfalls that lead directly to MLM and network marketing failure.
Be wary of weak MLM upline support
While it can seem exciting and interesting to jump right into the first MLM or network marketing opportunity that comes your way, this decision will directly influence how successful you are moving forward – and it is related to the person you decide to join the system under.
Your upline is totally and completely responsible for sharing with you all of the information and secrets you need to be successful, but all too many people find that their upline considers them to be little more than another source of passive income that they move on from right after recruitment.
Make sure you find the upline that takes your success as seriously as their own.
Anyone that tells you there is no selling involved with MLM is a liar
One of the biggest problems that people have, when they jump into MLM or network marketing, is that they have been fed a line of baloney that says they’ll never have to do any selling at all.
The fact of the matter is that influence plays a major role in real MLM success, and unless you are comfortable trying to provide high-level solutions for people and getting them to sign on the dotted line you are not going to the ability to create the income you’ve been dreaming about.
Too many people ignore the importance of proper prospecting
Without a flood of reliable and hot prospects, your MLM marketing days are going to be just like any other 9-to-5 job – except for you’re not getting paid for the time you are putting it. One of the best tools for passive income, you’ll need to flood your pipeline with hot prospects that will join your MLM organization.
Unless you have to prospect down cold you’re going to continue to struggle to make any real money in MLM or network marketing.
You can just wing it on your way to success
The dream of MLM marketing is that you’ll never have to spend any real money or time working on your business and that you can pretty much fly by the seat of your pants to make a six-figure or higher income.
And while this is somewhat true once you’ve mastered MLM marketing, the fact of the matter is you’ll need to create business systems that you can replicate on a regular basis to enjoy any kind of success in this industry.
Just study a handful of techniques and you’ll be an MLM master
Weak upline support will give you a handful of different resources, show you a few of the tried-and-true traditional methods for success, and then turn you loose.
This leaves you believing that MLM success is just as close to the push button as it gets, where nothing could be further from the truth.
You’ll need to design and develop your own specific techniques that work with your personality and your strengths to become a serious MLM player.
Not understanding that MLM is a legitimate and very real business
Sometimes people are sold on the dream result of MLM or network marketing and seem to forget that this is a real business that requires a specific commitment to make successful.
It’s too easy to get pulled in by all the dreams and wishes that you’ll finally be able to enjoy when you create the kind of income that MLM marketing makes possible, but you’ll need to do the work to see those results.
It’s your turn!
Maybe the biggest pitfall of them all is that people struggle with MLM marketing for a while without seeing any real success and then just give up on it.
But just as you wouldn’t tell a child learning to walk after their first three or four times stumbling and falling on the ground that they should just give in already, your MLM marketing will start off on shaky legs that only get stronger with use.
Don’t give up just because things seem hard at first, but continue pushing on and trying new things until you crack the code for real MLM success.
I encourage you that if you are looking for a mentor or a coach that can help you take the “Bull By The Horn” and really help you succeed in a business that so many people fail.
What have you done to overcome failures?
I would love to hear your feedback in the comments section.
A lot of my readers are getting involved in the MLM arena and have sent me a lot of mail asking about the best opportunities they can join. As I have little experience in MLM, what would you consider is the best option at this time? And why?
It can be an array of a few things. Finding the right product or service that you find resonates with you to promote. How you are going to share and promote the product and opportunity. A company with a good track record is also important when considering a MLM company. It does help to know when the company is established, whether they been around for several years or if it’s ground floor. One thing I would mention is find the right sponsor that will help, mentor and guide you through the process.
Those are all going points, Nate. I always tell folks that if the products don’t make sense neither will the business. Too many people look for the quick dollar. Truth is, if you don’t like the products it will be difficult to have the genuine passion and conviction to share them with others. On the other hand, if you are overly passionate about the products, that helps immensely.
Your point about finding an established company is also very important. I wouldn’t even consider a company less than five years old, and twenty years old or more is even better.
Having a good sponsor helps, but is not vital. You simply need a mentor, but it could be an upline leader or a mentor outside of your company. Just my two cents.
The truth is, most businesses fail. Yes, MLM is hard. Yes, most people succeed. But drive through your local home town and look at all the closed down businesses. Most of those folks invested tens of thousands or hundreds of thousand of dollars to get started and still failed. MLM is the ultimate free enterprise and form of capitalism. It isn’t for everyone, but it does work. It takes a HUGE commitment, lots of hard work, and a big vision. You also need brass balls to deal with the temporary setbacks, disappointments and failures. Most people do not have that. Just my two cents.