Network Marketing Success – Top 3 Reasons You’re Not Making Any Money
Most people don’t make money with Network Marketing. It’s sad, but true. I don’t know of any specific study that comes up with a hard statistic, but I’ve heard that as much as 97% of Network Marketers fail in their businesses and never achieve the level of Network Marketing success they hoped to.
Now, that statistic may change dramatically if you filter out everyone who signed up just to get the wholesale discount and anyone else who really had no intention of building a serious business.
In any case, Network Marketing Success is certainly not easy to come by.
The Top 3 Reasons People Don’t Make Money
When you get right down to it, there are only really 3 reasons why people fail to achieve the Network Marketing success they desire and fail to make money with their Network Marketing businesses.
1) Failure To Take Action
The number one reason why people fail to achieve Network Marketing success is because they simply don’t do anything.
They get all excited, they buy the big start-up package, they think of a few people who would be interested and good at this sort of thing, and then they find a bunch of excuses to not do anything…
“I don’t have the time”
“The timing isn’t right”
“I don’t want to bother my family and friends”
“I don’t know what to say”
“I should know everything about the product first”
Most people quit their Network Marketing businesses before they ever sell a single product or sign-up a single rep. These kinds of excuses are deadly to the success of your business. If you find yourself thinking or saying these things, then you know your business is on life-support.
2) Taking Action On The Wrong Things
Then there are the people who take major action on everything they don’t need to do.
There are two types of “activities” in Network Marketing…Income Producing Activities (IPA), and non Income Producing Activities. Both are essential to your Network Marketing business, but in order for you to achieve Network Marketing success, you need to focus 80% to 90% of your efforts on IPA.
Income Producing Activities are things that directly contribute to producing an income in your business; things like inviting your friends and family to see your presentation, actively prospecting people (either online or offline), showing your opportunity to people, following up with people who have already seen your presentation, etc.
Non Income Producing Activities are things that are essential to your business, but don’t directly result in an increase of income. The primary non-IPA’s that people distract themselves with is personal development and training.
Now, you do need to do personal development and training on a regular basis, but it should never take up more than 20% of your time. But for a lot of people, it is an excuse to avoid the things they KNOW they should be doing…specifically, things like talking to people, networking, building relationships, and getting exposures for their business.
Focusing most of your time specifically on Income Producing Activities is essential to your Network Marketing success.
3) Not Doing Something Right
If you’re taking action and you’re taking action on Income Producing Activities, but you’re still aren’t having any Network Marketing success, then chances are that you just aren’t doing something right.
You’re inches away from a breakthrough – you likely just need to tweak a few things in your strategy to get there.
Sometimes, those things can be fixed by reading a blog post or watching a video, other times it requires an in-depth training program, and sometimes it really just requires some personal one-on-one coaching to make those breakthroughs happen.
Leah Rae and I have been stuck in this situation a number of times, and getting the right advice at the right time was all we needed to make a huge leap in our success.
For example, attending a Mastermind workshop with Adam Chandler resulted in our lead generation going from about 5-10 leads per day to 30+ leads per day in a matter of a few weeks.
One coaching session with Ed Zimbardi improved our closing rate from 5% to 10% all the way up to 50% to 70% within one week.
How To Succeed In Network Marketing
Most people will make significant progress simply by going through this free training program.
If you need an effective plan and step-by-step training, but aren’t ready to dish out hundreds of dollars for a paid training program yet, then this is definitely the course you want right now.
Otherwise, if you’re ready for some personal attention, you can always fill out a contact form. We offer one free coaching session to anyone who is curious about whether it might be the right thing for them.
I hope you got some useful information out of this post on Network Marketing Success – Why You Aren’t Making Any Money. If so, can you do me a quick favor? Like, share, and comment below. It’d be great if you’d give me some feedback!
Todd A. Getts
P.S. – If Your Upline Hasn’t Given You A Clear Step-By-Step Blueprint For Generating Leads Online And Successfully Recruiting People On Social Media, This Will Help You – Click Here For Instant Access!
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