When you’re trying to build wealth, it’s often advisable to have more than one source of income. It’s also advisable to create a source of income that provides you with passive income.
Passive income is money that is earned without a lot of effort. While network marketing does take work, when it’s done right, there’s also the potential to earn passive income.
However, online network marketing is different from other types of marketing. Keep reading to learn the common mistakes network marketers make and how to avoid them.
Not Knowing Your Why
For everything you do in life, you should know why you’re doing it. If you don’t have a strong reason for doing something, there are going to be problems.
Especially if your business is online network marketing. Before you get into the business, figure out exactly what your compelling reason for wanting to make this work is.
Knowing what your “why” is will help you overcome any obstacles you find along the path to success as an online network marketing professional. The stronger your reasons are, the further along you’ll find yourself on the path to success.
With a strong reason, it will be easy to lose interest and difficult to keep moving forward when faced with adversity.
Selling Instead of Sharing
Imagine standing in front of a room filled with people. Pretend that you asked the crowd to raise their hands if they liked being sold to.
You probably wouldn’t find it very surprising when no one raises their hand. That’s because no one likes being sold something. This is especially true when you’re trying to sell to a friend or family member.
If you do it the wrong way, you’ll alienate and annoy the same people who should be the easiest to convert.
Instead, invite your friends and family to see the online network marketing concept you want them to know about. Don’t shove it down their throats and in their faces.
Allow them to make up their own minds. In fact, if you can’t show your audience everything (which you can’t), don’t tell them anything.
The presentation has been set up in such a way because it works. Don’t vomit your information, rather allow your prospects to ask you to share it with them.
Use the same rule of thumb when you’re selling your products to people.
Sharing Too Much
Starting a new business is so exciting that most of us want to head straight out and tell the world. We often have the belief that if we’re excited about the products and services, everyone else must be, too.
While there’s nothing wrong with being excited, don’t allow that excitement to overwhelm your audience by talking too much. Otherwise, you could be talking yourself out of a sale.
Sales and marketing are similar to being on a first date. Imagine going on a first date with someone who tells you every single thing about themselves straight away. There’s no mystery.
There’s also no reason to go on a second date because you’re no longer curious about that person. It’s like you instantaneously went from going the first date to twenty years of marriage.
The spark is dead and so is your online network marketing business.
Instead of talking about your business, ask your prospects questions. Find out what their struggles are. Ask what their goals are. Determine what’s stopping them from achieving their dreams.
It’s only after you’ve divested time and energy into knowing and understanding the potential customer that you can determine whether or not your product or service can help them.
Not everyone is the perfect customer and it’s really easy to waste a lot of time and energy on the wrong people. Do yourself a favor and stop selling. Then start listening.
Thinking Everyone is a Potential Prospect
Once again, because this is highly important, especially for people in the online network marketing industry: not everyone is a potential prospect.
Do not make the mistake of trying to recruit anyone and everyone into your business. It’s a quick way to alienate and annoy people.
It can also push people away who may not be interested in buying anything themselves but may know others who are interested.
Remember that most people you know are not interested in starting their own business. To many people, it’s too much responsibility and too scary for them to even contemplate.
Most people also don’t like change. In business, especially in online network marketing, change is a part of doing business.
Rather than wasting your time and energy on trying to recruit everyone, target a group of people or market that are expressing interest in the business.
It’s much easier and a lot more fun to sell to people who are actively expressing an interest in what you have. You’ll also find you’re far more successful.
Respect the Rules
One way to successfully use online network marketing is to join online groups, especially on social media sites.
But there are rules that each of those groups adheres to. What many people in marketing do, is rather than trying to engage in natural conversations, they push their way in and shove their intended sales message in everyone’s faces.
Respect the rules provided with each online group you join. Find ways to help others solve their problems. Even if it’s not for the product you’re selling.
Become a leader of the group. Not for what you are selling, but for who you are as a person.
People do business with people. Every connection you make with someone is about building up trust with them.
Make sure that your personal brand shows that you are trustworthy, helpful, and thoughtful. You’ll find it’s a far easier way to become successful in online network marketing than flinging your information wildly into a crowd will ever produce.
Not Knowing the Details
In online network marketing, there’s no need to explain what your company is or what products you sell. Instead, focus on what needs your products fill and how it helps people solve a problem or improves their lives.
If someone were to try to sell you a car, you’d lose interest quickly if the salesperson started droning on about all the latest patents the car company has acquired.
But you would listen to the salesperson if they explained that the car model you’re looking at is safe for you and your family.
If you’re thinking of buying an iPhone, you’ll care far more about learning how much music you can store on it than you do about the code that went into creating the phone.
Focus on how you can help people create happier, healthier lives using your product. Show them how they’ll benefit and they’re far more likely to happily become a customer or join your team.
Always Follow the System Already Built for Online Network Marketing
When you walk into a Burger King, it doesn’t matter where you are in the world. You’re guaranteed to have a similar experience whether you’re in Beijing or Indiana.
That’s because Burger King developed a successful system. Every single Burger King franchise owner agreed to follow that same system when they purchased their store(s).
That’s because they know that system works. They know that if they follow the system it will help them become a successful business owner.
Systems are set up because they make life easier. The guess-work is taken out of systems and they’re easy for anyone to follow.
The same is true for online network marketing. The system was set up because it’s easy to follow and, most importantly, because it works.
Be smart and follow the system that’s been set up. Attend the weekly online network marketing opportunity meetings.
Attend webinars and training events for online network marketing. Continue using the system even after you’ve become successful at online network marketing.
The system is only good when it’s being properly utilized. Just like coals in a fire, they’re only hot until you remove them from the flames.
When you’re looking for prospects to join your online network marketing business, the first quality to look for is coachability. Then you can find someone who has both the hunger and desire to join you.
The reason you want to find someone you can coach is that if they’re not, they won’t ever follow the formula. Even if they possess the skills and talents needed, if they’re not coachable, they aren’t a good match for you.
Instead, they’ll waste your time following their own rules and reinventing the wheel. Few good things will result from working with such a person in online network marketing. Mavericks don’t succeed here.
However, if you find someone is very coachable and is ready to follow the system, work with them. Even if they don’t start out possessing the necessary skills, they can learn.
Not Continuing Your Education
No one ever stops learning unless they do so consciously. Those who are most successful in life and in business realize how important continuing their education is.
Continuing your education is vital when you’re in online network marketing. These are the skills that allow you to progress and be successful.
Attend as many seminars as you can. Read all the books and add extras to your library that inspire and teach you how to grow professionally and personally.
The moment you choose to stop growing is the moment you find that you limit yourself and what you can achieve in this life.
Not Leading by Example
Online network marketing requires you to build a team. However, that also means you need to learn how to become a leader.
Unfortunately, not everyone is a natural leader. Sometimes, once a small team has been created, the leader stops doing the very things that made them successful in the first place.
That creates a problem both for you and for your team. People learn best by having a great example set. You are that example.
At the end of each day, think back to the actions you took and ask yourself what would happen if everyone on your team had followed your example. If you can honestly say that everyone would be more successful, you’ve done a good job.
Management isn’t easy for everyone, but it is a learnable skill. Keep following the system. Show up every day on time and lead by example.
Online network marketing is no stranger to people quitting the business. People allow other projects to distract them.
They allow problems to stop them in their tracks. Often, their reasons for why they wanted to get involved in online network marketing isn’t big enough for them to overcome any obstacles they run into.
It’s often common for people to quit right before they start succeeding. Often, they find themselves looking so hard for success outside of themselves, they don’t take the time to look around and find that it’s right there waiting for them.
Don’t give up. Build up and keep a great support system around you.
That can include team members as well as friends and family not involved in the business. Write down your “why”.
Take a look at it every time you want to give up. Recite positive affirmations every single day to help you get and stay focused.
When mistakes are made, don’t let them destroy you. Learn from them and move forward.
Forgive yourself and remember that failure only happens when you don’t try at all.
Get the Support and Training You Deserve
Even if you do everything right, without a good support system, it’s really difficult to be successful in life.
We’re to help you succeed. We arm you with the right tools and products to ensure your online network marketing business works the right way the first time.
We’ll help you define and set your goals, keep you motivated, and even help you with online lead generation.
We’ll teach you how to automate your online sales system so you can get more done in less time. To learn more about how we can help support your dreams, click here for your personal demo.