Why people fail in Network Marketing
Having been a network marketer for 15 years I have a good take on this subject. I remember being in my local bank approx. 10 years ago and the bank manager came out of his office and started to talk to people in the queue. “What do you do”? he said to me. “I am a network marketer” I replied. He said, “is that one of those pyramid schemes”? This hit a nerve as they say so I said. “Please tell me the definition of a pyramid scheme and how does that relate to Network Marketing”? (seemed a reasonable question to me) then I shut up. Silence …………………………. After approx. 10 seconds the manager said, “I am terribly sorry I don’t know what I am talking about”.
Why am I telling you this story is because the perception that many people have is that network marketing is not a worthy business model. It is all the clichés “it’s a get rich scheme”, “one of those pyramid things”. It is my opinion that this perception and misconception has stopped many thousands of people from joining this business model when it would be perfect for their circumstances. (This is now changing).
The next point I want to make is when you have a job and your boss asks you for a report to be on his desk for Monday morning, (you have one week to complete it from scratch), what do you do? You do it, right, you have no choice, otherwise you would probably lose your job or get a warning. You pull out all the stops, you work overtime for free if necessary to complete it, the report is on your boss’s desk for Monday morning.
In network marketing this does not happen, you are the boss, it is your business. Most people do not apply the same work ethic to their network marketing business. I call it “a hobby mentality” or lack of personal accountability. The successful network marketers apply the same work ethic to their network marketing business as they had in their day job.
The other key issue is that in the UK because of the direct selling legislation there is a maximum entry fee of £200 to join a network marketing business, I call it a “people’s franchise”. For less than £200 you can join a ready-made business where all the products and marketing materials have been made, full training is given, (usually free), where they pay you into your bank account on the same day every month and all you have to do is apply yourself to a training system and engage with personal-development and start talking to people about what you are doing. And still they give up.
Note: If the entry fee was £20,000 and not £200 I guarantee the success rate would be significantly higher.
Here are some of the other reasons why people give up.
- Their WHY is not well defined or big enough to get out of their comfort zone
- They choose the wrong company
- Your success is based on helping other people to be successful, it is about your team, many people forget this key fact
- They give it up too soon
- They do not engage with personal development, therefore lack competence and confidence skills
When someone asked me what I liked about network marketing I said, it gives you fun freedom and fulfilment. It’s not perfect but it is better.
A Perfect Storm – the new 21st Century economic reality
I am reading a book called ‘Surfing the Techno-Tsunami’ by Paul Hornsey-Pennell and in it he says 120 million jobs are forecasted to be lost in the UK and US alone to automation and AI by 2030. He says, “we have entered a new era, possibly even a new age/civilisation”.
He goes on to say, “we have time, but we need to act now and spread the work, because everyone is going to be impacted”.
Working from home will become the new reality for most people. Working from home is something that has been around for many years, but mainly as a small percentage of the working population. Over the next 10-20 years this is going to be flipped 180 degrees with most people working from home, (as it was before the industrial revolution), as part of the new self-employment and gig economy.
(A gig economy is an environment in which temporary positions are common and organizations contract with independent workers for short-term engagements. This trend has begun. A study by Intuit predicted that by 2020, 40 percent of American workers would be independent contractors)
That’s 2020, it’s happening now, the world has changed, the career has gone. This is the new reality and it is going to freak out people, no job, no wage, what do I do?
Remember we have time to act (not a lot) and if we get this right we can liberate ourselves from the mundane whilst enabling an unprecedented quality of life.
The new reality for most people in the future will be:
- Self-employment, working from home or are part of a local community hub
- Have a number of microbusinesses, providing services into their communities, ideally businesses that provide residual income opportunities to provide long term security and pension pot income streams
- Have short-term gig engagements with companies using the skillsets they have built up over the years, (if they are still relevant and have not been superseded by AI or Automation which is highly likely)
If you get this right what you can also achieve is:
- your own work life/balance – you set the hours you work
- You are going to become part of a community of like-minded people
- You will be able to leave a legacy
Call to action – Do your own research on this, I can also recommend ‘Sapiens’ and ‘Homo Deus’ by Yuval Harari. Find you passion, engage with personal development and get involved with the conversation – let’s do it together.
Live, Love, Freedom and Leave a Legacy