I am a full-time MLM professional. I have seen many articles written letting people know how to succeed at MLM or network marketing. I want to tell you today how to fail. That is right. There are four puzzle pieces to MLM or network marketing success. If you get any of the puzzle pieces wrong then you have increased your chances of MLM failure. The more pieces that are wrong, the higher your chances of failure!
The first puzzle piece is the product. If you choose a company with the wrong product you will increase you chances of MLM failure. There are a couple of types of products that are wrong. One of the most common type of products that can lead to business failure is a product that you can find at any store in town.
If you chose to represent a company that has a lot of competition in the marketplace then you increase your chances of failure. These are sometimes called “me-too” products in the network marketing industry. If this is the type of product that you have then you are in the unfortunate position of having to convince people that you have a better product.
Choosing a company with a weak compensation plan is the second thing that can lead to MLM failure. Many people wrongly think that all multi-level marketing compensation plans are the same. This is far from true! For the most part, each company has it’s own compensation plan. You need to make sure that you pick a company with a strong comp plan. A strong comp plan includes many things. Having the ability to earn up-front fast-start income and the ability to earn strong residual income are very important to ensure success.
The third thing that can lead to failure in your multi-level marketing career is choosing the wrong team. Once you have found a company that you feel has a great product and a lucrative comp plan you need to search for the right team to join. Many people join friends or family members in their business. That is only a good idea if your friend or family member is serious about building a multi-level marketing empire.
The final puzzle piece that has to be right is the lead generation system that you use. Most people begin and end their multi-level marketing career only talking to a few family members and friends. That is the extent of their lead generation. Believe it or not there are thousands of people who are looking for an opportunity every single day. These are the leads that you need to focus upon.
The four things that can lead to MLM failure are choosing the wrong product, choosing a company with a weak compensation plan, joining a team within the company that is not on fire and not using a good lead generation technique. Think of these four things as part of an MLM success puzzle. If any of the four puzzle pieces don’t fit then there is an increased chance of MLM failure!
Deanna Martin is a full-time network marketing professional dedicated to helping others achieve maximum success! You canand other subjects by stopping by right away!