So why do so many people quit network marketing? There are various reasons why so many people give up within a few weeks or months but let’s try and narrow it down to six main problems that cause the high attrition rate of new network marketers.
#1 Employee mentality.
Many people who get started in network marketing will have had no experience in running their own business. Let’s face it if you have been used to a regular monthly salary then going it alone and having little or no income coming in at the start up phase of your business can be pretty scary for most people. It’s during this stage that many will have doubts that they are doing the right thing by giving up a regular income for a leap of faith into the unknown world of MLM. This is why it is so important to have a realistic plan of how long it will take before you start to make a profit. In fact it might be better to start your MLM business part time and keep your day job going to help finance your start up period before burning all of your bridges.
#2 Get rich quick expectations
Many will have very high expectations about their chosen opportunity, even more so if it has been sold to them with a lot of over hyped promises of quick results. Get rich quick just doesn’t happen, network marketing is all about building trust with your potential customers and this will not be possible overnight, depending on how well and how hard you are prepared to work to give value to your prospects will make all the difference to how long this process will take, it could be weeks, months or even years before this trust is built. It will only be then that you will start to make sales and move forward with your business.
#3 Lack of discipline & consistent effort
Most people start out all fired up about their new business, probably putting in as many hours as possible to get their business going. Sadly most will run out of steam or burn themselves out in this early stage, it is at this point that many will get disillusioned if they are not making sales. It is so important to be consistent with the work you do each week, small regular effort each day will be better than a big burst of effort once every few weeks. Having the discipline to keep going even when it seems you are not getting results can be very difficult for the new marketer. It is this discipline of having a regular weekly schedule of income producing activities that will eventually pay off.
#4 Not treating their business like a serious business.
Treating your MLM like a hobby and not a business will dramatically effect your results. If you treat your business as a hobby then you will only get hobby results, so always be serious about your business, after all the aim is to generate an income that will exceed your current wage to give you the lifestyle and freedom you are looking for. So if you are only putting in limited effort then how can you expect to get outstanding results to achieve these life changes.
#5 Lack of training
Network marketing is a skill that needs to be learned, just like any other job needs to be learned to be effective. If you have joined network marketing but have no previous experience then you will need to study it thoroughly to be effective in your new chosen profession. Getting the right training in network marketing will greatly speed up your ability to start getting results. Finding a good network marketing training program with expert trainers is the best way to help you get results. It can be very easy to get overwhelmed with all the different marketing strategies available, that is why it is best to stick with one method of marketing at first, you should always focus on this one method ,study it well and only when you start getting results should you move onto a new strategy slowly building your skill set to a higher level.
The subject of mindset is one that gets overlooked by many people starting out in network marketing. Staying positive about your new business can be very difficult if you are constantly distracted by negative people or influences. Find like minded people to network with who are positive about their business as much as you are. Each day try and listen to or read self improvement material that will keep you positive during the difficult times and challenges that all marketers will face in their business.