Just completed this for the December Noni Pearls Magazine, thought I would share it with all of you. Hope you enjoy it.
Avoid the most common mistakes
Here are the 10 most common mistakes that networkers make. These mistakes are often ones of attitude, missed judgment calls, or misinformation.
Common mistake in network marketing -#1
Inflated Earnings Expectations
There are many millionaires in the Network Marketing Industry. There are also many millionaires in the NBA as well, but how many schoolyard ballplayers make it to the NBA? VERY FEW! This is the case in Network Marketing and those who become millionaires as well. While a large number home based business owners earn a great part-time income. The average individual spends more time dreaming about what they are going to do, or spends their time in fruitless activity. Realistic expectations for the average part-timer should be an extra $400-$500 per month. Don't sell anyone else the millionaire line. It may happen, but it simply is not the average.
Common mistake in network marketing -#2
Go For the Product, Not the Plan
I hear it nearly every day. Just last night I received an unsolicited call. The conversation went something like this: ..."Hello, I understand you want to start a home based business and make boat loads of money"......I stopped her at this point and asked her if she has used that introduction very long. She said, "oh yes, I have been doing this for years now!" So I asked her how effective she was in calling phone numbers with that opener. She said, "I make lots and lots of money". Our conversation went on for about 10 minutes with her telling me how much money she was making and how easy it was to make "boat loads" of money. Ten minutes into our conversation, she had yet to reveal what it was she was representing--what was it she was selling to make BOAT LOADS of money with? This should be one of the first things you speak about.
It was at this point in time I informed her that I currently had a home based business and was not looking to enter into another business. "Could we please speak business to business here as I am not a prospect". She stammered a little bit but politely agreed. As it turns out, she simply copies pages out of the phone book and calls each name one at a time. She has been doing this for a year with very little positive results, and is struggling tremendously to earn more than $200 per month. You guessed it, I asked her if she would be interested in learning more about my company and the team benefits. In the end, I mailed her a copy of the current magazine and some additional literature. She was excited to hear that we work with our team members one on one coaching and mentoring. She stated that the person who signed her up has never spoken or responded to communication in more than 3 years. This is just sad and pathetic.
Too often, the temptation is to speak with our recruits or prospects about the "money" which can be earned. As a result, you may sign a few new people up who are looking only for the money...while this may work, you are missing one of the biggest, best and most effective sales tools.......YOUR PERSONAL TESTIMONIAL. How effective is a man, who has never cleaned, cooked, or used a vacuum cleaner in his life going to be at selling items to make these chores easier? It is much more simple to speak about the "business end" when your audience believes you because you believe in the products.
Of course, a fair compensation plan, which provides good incentives, is important. But in the long run it is the company's quality products which people bond themselves to. The management and the vision make all the difference in the world.
Common mistake in network marketing -#3
Don