There’s no doubt you’re prone to make a few mistakes as most first-time marketers do, but the amazing thing about it all is you have the power to learn from the mistakes of others so that history doesn’t repeat itself. In network marketing, plan B is a must for when things don’t go as planned.
Below are some of the most common mistakes first-time network marketers make.
#1: Lack of Devotion
Many first-time network marketers come into the field with a traditional business market state of mind and a 9-5 mentality. To fully succeed in network marketing, it’s all about the commitment, devotion, organization, and attention you will need to provide for your business to grow exponentially.
Although the upfront investment to purchase the product or sample kit is extremely lower than traditional businesses, you will need to put your skills into play and pronto!
If you commit yourself to attend as many conference calls, events, seminars and product demos to name a few, then you are on the right track to success!
2. Lack of Organizational Skills
It’s crucial that you make the time to be organized; here, I show you how to effectively manage it.
When it comes to that, we are all born with our unique DNA, and perhaps some of us inherit organization genes. Regardless of our genetic inheritance, we all have the ability to acquire some level of organizational skills. It’s not necessary to go to extremes to keep yourself organized; being well prepared and then diligently following through will help make tasks easier and more efficient, resulting in better time management. Remember time is money!
Like success, being organized comes over time. Your desired result must be crystal clear before you can prepare for it.
3. Choosing the Wrong Company
Always make sure to be well informed with a thorough due diligence.
To do so, start by researching the company profile to make sure the company is financially stable. If possible, set up a meeting with the management team to determine their integrity, management style, and track record.
Don’t disregard the compensation plan. Walk away from fast-money making programs, better yet, run fast from these type of programs. Nine out of ten times, these type of network marketing schemes will make a huge hole in your pocket.
Now let’s talk about the products… it’s the perfect time to put that old saying into action: “preach what you teach!“. You should always feel comfortable using the product you are selling to friends, family, and acquaintances, and it should have real-world value and not be over-priced.
4. A Lackluster Prospect List
Building positive relationships is key to your success in this field. Not having a full prospect list is a huge failure due to the fact that your new network marketing business is all about prospect sponsoring.
To begin, start populating a list with the obvious: friends and family. Then gradually add the first 50 people that come up to mind who might be interested in your business.
Believe me, soon enough the prospect list will be endless once you start reaching out to them because they have friends, family, and acquaintances as well.
Still in need of prospects? Then you can join the gym, hit up your local coffee shop or casually crash your next-door neighbor’s birthday party. If all this fails, think of joining the next excursion to no man’s land and adding one to its next census count.
5. Failing to be Persistent
Persistence is having a vision of where you are and where you want to go, and having the willpower to fulfill your dreams.
When it comes to defining your vision and the life you dream of, you have two choices:
- Accept your circumstances as they are
- Take ownership of your vision, and empower yourself with the willpower to draw a line in the sand and move forward.
If you go with the second choice, the synergy of vision and willpower will equal the persistence required to meet your goals. Learn to embrace hardships and failures, and getting up when getting knocked down without blaming others or making excuses.