Top 3 Reasons Why the Money Sucks in Network Marketing
Some of the leaders in network marketing earn over $100k a month, but what about you and I? Here’s the Top 3 Reasons Why the Money Sucks in Network Marketing.
It’s exciting and scary at the same time starting your network marketing business. We either have high expectations, like we’re gonna make $5,000 our first week, or we have very low expectations, like this is a pyramid, my friends and family are going to kill me!
But, we begin the journey and reach out to people and actually get a few orders. We are so excited – until we look at our earnings for that week.
You are livid.
You think: “I did all this work for $42 dollars?!”
Luckily, your sponsor calms you down and you keep sharing your business opportunity.
Network marketing is one big education attached to a paycheck, so you realize you’ll get the hang of it and your earnings will go up.
A month later, you are still making $42 a week, maybe even $42 a month!
I get it, I was there.
I made a total of $2500 my first year.
That barely covered my product expenses, but I also became more wise, more resilient, and knew that I was addicted to MLM.
I also knew that I wanted what the leaders had, and I had watched enough of their videos to know that the first few years are the hardest.
If I could make it past year two, I would be among the very few and that’s where the big money starts.
Here’s the Top 3 Reasons Why the Money Sucks in Network Marketing:
One – It’s Only You in the Beginning
In the beginning, it really is just you selling your product or affiliate memberships.
I got around $25 bucks when somebody joined my team.
I would have to recruit 10 people a month just to make $250.
But, here’s where people get confused. . .
It doesn’t stay that way because if you get one person who say, recruits the same amount as you, you are now making your $250 a month, plus $100 in commissions from them.
Then, you get 4 more “business builders” and that is your $250 a month, plus $500 a month in commissions.
This is called “leveraged income.” You leverage your efforts by creating a team that work with you as well.
The secret is finding your 3 to 5 true business builders.
Many people will come and go into your business and it’s not your fault when they quit.
97% of the people who try network marketing eventually quit.
The beautiful thing is that network marketing pays so well, and on so many levels, you only need 3 to 5 leaders to make 6 to 7 figures a year.
Only time will tell when you find your leaders, might be in your first year or seventh year.
Two – Your Mindset Sucks
The money in network marketing sucks when you treat your business like a lottery ticket.
You think: “If I can just share my link on enough MLM Facebook groups, I’ll be rich!”
Been there, done that.
One time, I had an automated facebook poster. I posted my link on almost 700 facebook groups a day.
You know how many leads I got from that?
Maybe 2 a day, if I was lucky.
Then the fb poster broke!
You think: “If I can just get my uncle into my business, he would make me rich! He did Amway 25 years ago.”
Again, one person is not going to make you rich.
You’ll probably need to generate 5,000 leads to recruit 300 people to find 30 leader-types to find your true 3 to 5 leaders.
Might take 3 years, might take 10 years. It’s still better than 20 to 40 years at a dead-end job!
Once we lower our expectations and begin to treat our home business like a real profession and give it a few years and train and mentor in the meantime, it becomes more of a reality.
But, it will never happen with “get-rich-quick” intentions.
Three – Your First Team Sucks
In the beginning, you’re basically greedy and selfish.
You are only thinking about you and how much you can make.
But, network marketing’s first word is “network.”
You don’t do network marketing alone forever.
You start networking your opportunity until you have a network of business associates on your team.
Remember: leveraged income.
So, if you’re greedy and selfish in the beginning and are spamming your links all over social media, guess who you attract?
Selfish and greedy people who think you’re in a get-rich-quick scheme.
They last a month, until they realize that the money isn’t funneling into their bank account.
But, once you start learning MLM like a true profession and put in the time to do self-development and mentor, and read and watch everything MLM, then the quality of the people who join your business greatly improves!
Thanks for reading!
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Erik Christian Johnson is a full-time blogger, self-development advocate, and full-time network marketing Entrepreneur.