Why Do Some People Fail to Make Money With Network Marketing?

Network marketing is a self-starter’s game—one that requires some will in order to find your way. Even with considerable gumption, though, there are pitfalls that might cause you to lose your way. 

Specifically, it’s the things that you don’t do or don’t know to do that can cause you to fail in your quest to make your network marketing efforts a success. A bit of knowledge can help make the difference, though, and today we’re going to examine a few of the most common reasons network marketing hopefuls come short of their goals.

• Poor Mindset

In many cases, simply lacking the drive to forge ahead can be the death knell for any hopes of making money. It might be that you lack the belief that you can succeed or that your industry is one where you can find your way. 

Alternatively, you might not be prone to quitting before surmounting some of those initial business hurdles. In both scenarios, a failure to “bank on yourself” and persist will bring downfall.

• Insufficient and Outdated Training

If you’re new to the game and lack the skills to navigate your industry, or you haven’t taken the time to keep your strategies up to date, it’s much like trying to navigate a dense forest with no map or compass.

Training can spell the difference between striking it big and floundering for ages, so you’ll have to continue learning so that you know what moves to make in this rapidly changing landscape. Read regularly, and focus on cultivating strength in the areas where you’re currently weakest.

• Not Putting Training Into Action

As something of a caveat to the above point, spending all your time with your nose in the books and no time putting that knowledge into action can be an equally devastating failure.

To make money, you need prospects, and if you spend all your time reading up on how to do things and no time actually doing anything, you’re likely to get stuck. True, there’s a lot of information out there to absorb, but don’t let it paralyze you into inaction.

• Overcomplication and Lack of Focus

A common thread that links many of the best-laid plans in network marketing is simplicity. Needless complexity, on the other hand, is an easy way to spread yourself thin and make mistakes (and not make any money in the process). Unfortunately, many newbies fall into the trap of trying to do too much and taking the long way to get there. 

Remember that the jack-of-all-trades is a master of none, so keep your wits about you and simplify your systems where you can. That way, you can avoid the pitfall of overcomplication and focus your efforts where they matter most.

• Ignoring Your Network and Poor Presentation

It might seem strange, but there are those in network marketing that forget the importance of networking. Too often, they’ll confuse the art of networking with a direct sales approach, adopting hard sell strategies that focus too heavily on trying to “close,” and not enough on simply building that all-important network. 

In this field, the latter option is more likely to facilitate your desired results, so direct your efforts to staying consistent in building those email lists, developing a social media following, and anything else that can help grow your network.

• Foregoing Analysis

How do you know if a technique you’ve employed is working? A surefire way to not know is by skipping over the critical testing phase that follows the implementation of sales video, marketing posts, etc.

Unfortunately, this is part of the process many network marketers ignore, leaving them shooting in the dark and hoping they hit something. Make analysis a regular part of your routine so that you can identify what’s getting you results and what strategies you’d be better off leaving by the wayside.

• Failure to Connect

No matter what you’re selling—products, services, etc.—a lack of genuine enthusiasm is something that everyone can see through, as you’ll lack the motivation to give it your best effort.

Less savvy marketers may try to feign it, but their dearth of interest will always be a hindrance. You can’t force passion, so be sure you have an authentic connection with your industry to help fuel everything you do.