Most Businesses Are Not Highly Profitable
Most businesses never get highly profitable. You may have heard that 9 out of 10 businesses fail and the biggest reason why they fail is because the don’t make enough money.
This is also true in the network marketing profession. Many network marketers quit within their first 30 – 90 days. Many that stay on board struggle for many months and some for many years and even those that stay on still never make the profits that they hoped to make when they first joined.
I heard a statistic years ago. When you factor in all the people who never make money and quit and all the people who make a couple hundred dollars here and there or a couple thousand dollars per month and all the others who are making 5 figure months or 6 figure months that the average income of network marketers is $1000. Total. Not $1000/month, just $1000 total.
This doesn’t have to be your future or anyone that you recruit and the best way to ensure that is to be aware of the reasons why businesses are not highly profitable.
Last week I attended a 3 day seminar called Make Your Mark: Business Mastery by Colin Sprake and I learned 7 reasons why businesses never get highly profitable.
Before I get into that, I have 1 on 1 and group coaching programs available to help people get better a prospecting so they can get more sales and sign ups.
If you’re sick and tired of going through courses and want someone to look over your shoulder to give you the help you need and hold you accountable, then shoot me an email at firstname.lastname@example.org
Reason 1. People are stubborn
Many people let their pride and their ego get in the way of their success. Think about this for a moment.
“Where you are today is a direct result of your best thinking.”~Andy Andrews
One of the reasons why someone becomes successful in the network marketing profession is because there is a system in place. More often than not (especially in an established company) there is proof that the system works. But often people prejudge the system, they don’t know if it’s really going to work. They would rather do it their own way and reinvent the wheel.
Reason 2. People Believe They Can Do It By Themselves
There is a lot of ego that can prevent someone from getting help.
When you are in school if you copy someone during a test, a project or homework even if you have their permission, it’s called cheating. However in the network marketing profession, if you copy someone, it’s called smart business.
There are people that have already paved the way to success in the network marketing profession. They know what to do and they know how show others how to do it as well. Often they want to help you, so be willing to accept their help so that you can become successful faster. Don’t let your pride get in the way and be willing to accept someone’s help or even ask for someone’s help. Don’t worry if they are younger or less educated than you are. They know how to excel in the area that you want to become better in. Be humble and ready to learn.
Reason 3. They Don’t Know What They Don’t Know
Sometimes, you know what you need to learn. You might look at your situation and think, I have lots of people to talk to but I don’t know what to say. Then you learn the scripts and what to say and you are able to create some success.
Other times, you think that you are doing everything right but you just aren’t getting the success you are looking for. Often, it takes someone else to point out what you are missing. It could be something as simple as being too pushy and trying hard close someone into buying or joining your team. You might not realize that’s where you are losing the sale. You might think that you aren’t talking enough people or you need find harder closing techniques when in reality, if you just became softer in your approach, you’d get more sales.
I discuss the other reasons why businesses don’t become highly successful in this video:
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If you are ready to drop the ego and get help and ready find out what you don’t know to make success in the network marketing profession, I have 1 on 1 and group coaching programs available to help people get better a prospecting so they can get more sales and sign ups. Email me at email@example.com