Don’t be caught up by hype and euphoria. Your family and your downlines are placing their faith in you and you don’t want to let them down. Network marketing opportunities are everywhere. It is estimated that the global network marketing sales force exceeds the millions and it is still constantly expanding. These network marketing reps are everywhere… but why do they participate in a network marketing opportunity? Is it because of money, fame or more?
The reason why the majority of them are in network marketing is because they have a dream. They often desire something better than what they are having now.
NULL If you want to be successful in network marketing or if you are considering a network marketing opportunity, you must have a very strong dream in order to survive in this competitive industry. Here are examples of people with big dreams and why they join (and some succeed) as a network marketing rep:
- The need for additional income: The United States of America is going through a recession (factors like inflation and the sub-prime loan crisis). It is only going to get worse as the economy falters so the need for extra income becomes more pressing because for most people, they don’t know when they might be the next to be laid off!
- The need for more time: Some people might have a lot of money but because they are shackled to their work, they neither have the time nor the luxury to enjoy their hard earned dough! Even some successful business owners work at least 16 hours a day and 6-7 days a week because if they take their eyes away from their business, they will lose everything. Network marketing offers a way for people to develop residual income (or walk-away income) and that is what makes it so compelling even for people who are financially fit!
- The need for security and ownership: Some people may have the time and money even when they work for a boss, but because they don’t OWN the company, they might feel as though they are NOT in control of their lives. Furthermore, you might never know if the company will let you go. In some cases, people have the pressing need to build tremendous wealth rather than rely on their pension or retirement fund. They prefer to build their own security for themselves and their children and that is why they are in network marketing.
- The need for good products: Some network marketing companies offer powerful products that it will serve the customer’s best interests to become a rep or a distributor of the company. Many successful entrepreneurs in network marketing are there probably because they needed new vitamins or they wanted to buy an extra bar of soap from a friend in network marketing (common success stories).
- Socializing and helping others: Besides time, money, products and ownership, network marketing also provides a healthy and positive environment for people to socialize and help others by inviting their friends and family into their circle. Most of the strongest friendships are forged within a network marketing team.
You must have a strong reason WHY you are in network marketing. Can you list down your reasons why?
Once you can list it down, you will be able to build your network marketing business with passion and determination.
Now that you know your why, let me show you what’s NOT to do. MLM opportunity hopping is quite prevalent within the network marketing industry today. The moment someone hears about a new ‘ground floor’ opportunity or the chance to join a new company as a pioneer, they drop everything they have and they jump into a new opportunity all of a sudden, and often, they try to persuade their network to come along with them on their new venture. There are pros and cons of jumping from one company to another, but often, there are more problems associated with changing loyalties. Here are a few issues every network marketing must address before they make a rash decision:
- The 001 syndrome: This has nothing to do with a relative of James Bond (007), but rather because people crave the fame and fortune of being the FIRST rep in a new company, that they will abandon everything they are doing to be the first one in line. The problem with 001 syndrome is that it might spread to your downline and would YOU like it if they joined another company all of a sudden?
- New company might not survive: let’s be brutally honest with ourselves. In life, there are no guarantees. In the past, everybody thought that Enron was a powerful company but today, it is one of the biggest flops in corporate history. You can’t even guarantee that tomorrow you won’t get hit by a truck, so you must not psyche yourself into the mentality that being with a new company will automatically make you rich. Most new companies do not even survive past their 5th year so make sure you choose wisely!
- New companies have poorer support: mature companies usually have mature systems when it comes to training and support and that is why they survive past their 5th, 10th or 25th year. As the pioneer of your new ground floor opportunity, you have to slog like a slave to build the system in place (remember, even companies learn from the mistakes of their first batch of distributors so make sure you are willing to go the extra mile both for your company and your downlines).
- Rank Demotion: You might be a double executive ultra diamond ambassador in your current company. If you join a new company, as a leader, you WILL be pressured into resigning as a distributor. Are you prepared to give up your rank and income in your present company and place your future in the hands of another that ‘might’ not survive?
Here are a few tips on how to be very sure of your new opportunity or at least, minimize your chances for failure.
You must check out the management team, their track record, the company’s market potential, the existing demand, the trends and your network (those who are willing to follow you to the ends of the earth).
You must do your due diligence. Remember, your family and your downlines are placing their faith in you and you don’t want to let them down. Don’t be caught up by hype and euphoria. Learn to see things logically from a business perspective rather than an emotional perspective and you will make better, well-informed decisions.