Still Struggling In Your Network Marketing Business?

by Mavis Nong on August 18, 2010

Still Struggling In Your MLM Business?

So, why did you start your network marketing business? You probably got interested in your company, not only because you loved the product but you saw an opportunity to make money too. And how is that going for you?

A fact is, 97% of network marketers are struggling in their businesses – they are losing more money than they are making!

There are 4 major problems faced by most network marketers today. Let’s take a close look at them:

1) Lack Of Quality Leads

This is a huge problem in the industry and it continues to haunt many network marketers. The truth is, leads are the lifeblood of your business. Without them your business will crumble and DIE

You’ll need to generate a minimum of 30 targeted leads a day in order to make money in your business. Note that I use the word ‘targeted’!… Your goal should be to attract people who would be interested in what you have to offer, so that they can convert into sign-ups and sales.

Most people are struggling with this as they try to get their family, friends and strangers they bump into, to join them or buy from them. Those people have not expressed any interest to start with.

If you’re still using the old marketing methods of writing a list of names and bugging people in the shopping malls, then you’re not going to have qualified prospects.

So, how can you tackle this problem?

You’ll need to use the modern day lead generation strategies. The key is to get proper training on different marketing strategies available today so that you can know what you are doing. Choose a couple that resonate with you, learn and implement until you master them.

Focusing on just a couple of strategies will bring you better results that you want rather than trying to learn and master everything!

2) Lack Of Money

This is a common problem in the industry – it takes money to run a network marketing business and many marketers don’t have it!

To start with, you probably didn’t have money to make the initial investment but you saw the income opportunity and you figured a way to make things happen. But you didn’t realise that you needed funds to keep your business going every single month.

So, are you borrowing money from YOURSELF to fund your business?

You need to pay for the inventory, stationery, travel, events and so on. Your monthly expenses could run up to $1,200. So, if you have a poor cash flow, not making enough money to cover your business costs, you then start funding your business from your own pocket. You then start focusing on making sales than providing solutions because you’re desperate.

Remember that you started your network marketing business for financial freedom, but a lack of money would leave you in a worse situation than you were before you started and the tiny commissions that you make will be for repayments to yourself. Not ideal at all.

So, how can you deal with this problem?

You need to take advantage of affiliate marketing and set up what is called a Funded Proposal. This ensures that you do not spend yourself out of business because it provides you with a way to cover your business costs from the onset – very smart!

This is a great way to make money off people who are not interested in joining you. All smart marketers use this strategy.

3) Lack Of Marketing Training

Most network marketers fail in this industry due to the lack of marketing training, especially internet marketing training. If you don’t have the right training you will lose more money than you are making in your business. Trying to figure out things on your own on the internet, will definitely feel like being lost in the forest!

So, how can you overcome this problem?

You will need a platform to train you on all the cutting edge marketing techniques both online and offline, if you want to stand any chance in this highly competitive market. You will also need to spend some time on your personal education and growth and learn how to sell your most important asset – YOU.

4) Lack Of Duplication

Most network marketers are working around the clock, sponsoring new distributors and then have to repeat the process over and over again due to constant downline attrition.

When you get results in your business, you want your team to duplicate your success, otherwise you will not be able to grow your organisation.

So, how can you solve this problem?

You need to get your team plugged into a good marketing system so that they can get the training and tools required to achieve your level of success. A good system will save your business and help you achieve the results that you are after.

Fill out the form below and learn how to market YOUR business like the top earners do, without chasing family and friends and cold-calling!

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