Multi-level marketing, or MLM, has taken the world by storm. This ingenious manner of direct selling allows the customer to become a representative of the MLM program. As a result, the customer-cum-recruit would be given the opportunity to earn from his efforts.
MLM has been implemented for the online audience in recent years, further elevating its popularity to new heights. A lot are joining MLM programs in this day and age.
But only a few are succeeding.
The reason? It’s because countless multi-level marketers are committing the same mistakes over and over again. Instead of learning from the errors of their predecessors, they fall victim to the very same faults, thus jeopardizing their chances of attaining success in the MLM field.
What are these mistakes? Better yet, how can you avoid them?
1. Believing that MLM is a “get rich quick” scheme. Any person who has experienced a certain degree of success with MLM would tell you that this system is far from being one of those profitable opportunities that you could pursue while being idle. The fact is, you will have to work – and you will have to work hard – to be able to achieve success with multi-level marketing, whether it is conducted online or offline. Though eventually, and if you work hard enough for such a status, you’d be able to receive passive income from the sales that would be generated by your down line, you’d have to extend a lot of effort to establish a solid battalion of committed individuals who will share your devotion to the program. Though all of these may seem like hard work, MLM remains to be a very rewarding opportunity for anyone who would be wise enough to invest their time and industry to the program.
2. Believing your own hype. “This is easy.” “I’m too good for this job.” “I could do these with my eyes closed.” These are statements born from confidence – or overconfidence to be more precise. And this haughty disposition could very well be your number one obstacle to attaining success with MLM. Don’t get me wrong. A certain level of confidence will serve you well. You will have to win some sales for the MLM program after all, and you’d have to believe in the said program to be able to convince others to join the cause. And this requires confidence – the right kind of confidence, that is. But too much of the same would make you rest on your laurels, which is something you cannot afford in this line of business.
3. Leads are useless. This kind of attitude is doomed from the very beginning. Leads are the lifeblood of any MLM campaign. Leads represent your prospects, your future recruits. Without leads, your MLM campaign is sure to be a failure.
4. Generating a certain volume of leads is enough. Again, this is an attitude that would spell doom for your success. Lead generation is, as it should be, a continuous commitment. It should never cease. Even if you feel that you have generated enough leads from which you could convert some new recruits, there will come a time when all those leads would be exhausted. What then? Where will you gather your earning potentials if you have stopped looking for leads? A multi-level marketer’s task is to continuously – and unceasingly – discover new prospects everyday. Let’s face it, it’s the only way by which you could sustain the profitability of your MLM campaign.
5. Lack of focus. Many multi-level marketers are of the belief that they should join as many MLM programs as allowable to provide for themselves several income streams from which they could derive their earnings. This could prove dangerous. Spreading yourself too think by engaging in several programs at the same time would make you lose your focus. Instead of concentrating all your efforts to achieve success with one program, you’d be dividing the same among several platforms. The best way to deal with things is to firmly establish yourself in one program before venturing to the next. Build a solid down line from which you could earn some residual income in a sustainable and substantial level before joining another program. This way, you’d be ensuring that you’ll receive some profit from the first program even while you’re concentrated on the new one.
Knowledge, they say, is half the battle won. Knowing the common mistakes the multi-level marketers make is the first step towards success, as it would guarantee that you won’t fall prey to what has caused their failure. Learn from them, and succeed where they have fallen.
