An Interesting Fact is that 95% of Home Business Owners never make a 6-Figure Income!
July 14, 2008
The reason most people have problems with their network marketing business is they don’t truly understand how the industry works. Often, this is because they were sold a pack of lies by some company that reeled them in on false hopes and promises. Some simply joined because they were sold on the idea that they could quit their job and work from home if they just buy a distributorship and call some leads.
It is a classic scam: you’re told a lot of promises in the beginning about what a great opportunity it is, how you don’t need any experience to begin with, and with hard work for the first few years you will create a good income stream. However, once inside, you will face many challenges and realise that there is no truth in it.
Mind you, this business is fun and simple if you let it be, but it will take tenacity, dedication, and professionalism to earn six figures incomes.
Did you know that 95% of people who get into network marketing have no prior sales experience?
The majority of people who join this industry do so without the intention of becoming a “professional network marketer”. Yet that is exactly what is asked of you if you wish to make a full-time/six-figure income.
This leads to serious difficulties as network marketing does involve selling and marketing, regardless of what some MLM distributors may have said to you to get you to sign up.
This is one of the biggest mistakes that people make in network marketing. They think the product will “sell itself” while they just share the company and product information. Yes, MLM is indeed a simple business, but it does take tenacity and professionalism to make a 6 figure income.
Your Business Has Nothing To Do With Your Company.
Your Job in a Home Business is MARKETING and TRAINING your team to DUPLICATE.
He who markets and promotes best, wins.
Success has got nothing to do with the best company, best product and the best compensation plan.
Another common mistake is to think you will be able to sell to your friends and family. Many networking marketing or MLM programs encourage you to share these great opportunities with your friends and family first, when in reality, your friends and family may not even want or like the product.
If you do make sales, it may be from people that feel obligated or are just giving it a try to get you off their backs. Don’t depend on your family and friends to make you rich from a MLM. Even if they are kind enough to buy from you, chances are you won’t become a millionaire this way.
You see, this is an industry of marketing and promotion pursued by people who have no idea how to market or promote.
The fact is true MLM success comes from training, experience, expertise and even practice. Can you make a good living from it? Sure you can. Can you be highly rich and successful? In time, yes you can. But don’t expect it to be an overnight miracle success. And don’t think that you can achieve this without hard work. If network marketing is so simple that anyone could do it and products sold themselves, wouldn’t we all be millionaires?
As I mentioned earlier on, your business is marketing. This is why you must align yourself with a group of marketers that is really going to show you the common denominators of their success and leverage on their experiences. This will eliminate 90% of the learning curve that typically causes most people to fail and give up on their initial dreams.
I just want you to understand that if you’re not creating a constant flow of leads day in and day out or if you’re not putting your business in front of 5 to 10 people a day, your dream will remain just a dream.
What about all the success stories you hear in your company? One way or another, they found a way to be in front of lots of prospects EVERY day passively. How? They either leveraged their systems or other people on their teams.
Simply put, traditional marketing is an ineffective “shotgun” strategy because a scatter shot won’t get you very far. Also it has become more expensive. The public is bombarded with commercial ads, and to make matters worse, today’s technology has enabled people to put up a “firewall” around their lives.
Despite that, I am not against traditional forms of network marketing. They have their place. In fact, word of mouth has the best conversion rate. Nevertheless, you are pretty blind as to whom you are addressing with traditional marketing. You have no idea of their interests, their tendencies, and more importantly, if they are at all likely to be interested in what you have to offer. You can’t sell steak to a vegetarian!
You probably already know these basics. Get to know your prospects by building a relationship with them. However, this is one skill newcomers find hard to grasp, and that makes them reluctant to go out to talk with people.
But, there is a solution which is still not known to most business owners.
What Does Online Marketing Mean To You?
Bottom line: with today’s advancements in technology, if you own a home business and you are NOT marketing online, you won’t be in a business for much longer.
Online marketing gives your marketing sniper-like accuracy. With online marketing, you aren’t interested in marketing to everybody. You are only interested in those who have an interest in what you have to offer and you will only market (spend money) on those who have an interest in your product.
How do you get into online marketing?
The quickest way is to use Google to identify people who are interested in your product, because over 90% of internet users are using Google for searching and this number is growing at a dramatically each year. Google can also tell you what a particular group of people is interested in. This is the key!
In short, building a business online is so much more effective. You can be in front of thousands of people in a short period of time. That means your customer list keeps growing, every minute without you. Admittedly, it will take a great deal of time and effort to create your capture page, sales letters, and follow-up emails. But you only do this once.
Now that’s leverage.
Are you envious of all those people who make a living using the internet? Don’t be. You can replicate their success if you are willing to give it a go. Building an online business is not rocket science, although it has a bit of art and science to it.
You have to look at marketing as a funnel. You start with a wide top that captures people who are interested in the product you have to offer, and you qualify those people more and more at each level down the funnel.
As you proceed with your marketing, your prospects proceed further and further down that funnel, qualifying themselves more and more.
Ultimately, you end up with only the hardcore who are attracted to join your business and who cannot wait to purchase your product.
And all of this can be done automatically and cheaply once you set up your attraction marketing system.
If you do this correctly, your marketing costs will be self-funded. Your potential customers will not cover your marketing costs, whether they buy your product or not.
Jackie Khor is a leader in Network Marketing. She is best known for her down-to-earth, no-nonsense training. Get your FREE 10-Day email Boot Camp on at WorkFromHomeBusiness
Blog Attraction Marketing
Check out at Set up home business on the Internet
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