Multi-Level Marketing (MLM) Mistakes to Avoid !!!!

No one goes into business to fail. By knowing what common mistakes to avoid, you will dramatically increase your chance of success. Remember... dumb people don't learn from mistakes... most people only learn from their own mistakes... and smart people are able to learn from other people's mistakes as well as their own.

1. Unrealistic Expectations Going In:

It cannot be stressed enough to anyone who is considering MLM as a business opportunity to set realistic income expectations and goals. Although the income opportunity in MLM can be considerable, it does takes a lot of time, effort and, again, TIME to make a substantial income. It is not reasonable to expect a six-figure income in 90 days, and this is the number one reason why people fail at MLM.

2. Failure To Treat an MLM Business Like A Business:

When you have your own MLM Business, it is just that: it is your business. It will become your primary source of income at some time and because of this, it deserves your full attention. You cannot become the CEO of a successful corporation without putting in a lot of hours, being diligent, working harder than everyone around you, and constantly upping your game. It doesn't happen in the real world, and it doesn't happen within your own business. While you may have more to lose than the guy working a job, you also have a lot more to gain. If you want a great reason why people fail at MLM, it's because they are simply not willing to put in the time and commitment that is required!

3. Failure to have the Patience to Get Through Your Learning Curve

Let's make a simple analogy. When you take up a new hobby or sport, are you good at it on Day 1? Of course not. Are you better at it on Day 30? Yes. What about on Days 60 and 90? No one is good at something when they first start. There is a learning curve to everything you do. The longer you stick with something, the better you get at it because you learn from your mistakes and you become more skilled at repeating what works. This business is no different. The longer you stick with it, the better you will get at it. If you don't stick with your business long enough for you to get really good at it, you will never be successful.

4. Failing to Be Better Than Your Competition:

You absolutely have to stay on the cutting edge of MLM sales. This means keeping up on the latest marketing trends, whether they are online website promotions, or promoting yourself in Social Media. Education is always the key to success in life and your MLM business in no exception. Whether you are going to conventions, or partnering with an online marketing coach and mentor, you have to be better at marketing yourself and your product than the next guy! The only way to do that is to make sure you are constantly trying to improve yourself and your marketing techniques.

5. Using Misleading Recruitment Tactics:

If you are going into MLM, you need to know that "recruiting" is not a dirty word. It's just a plain fact of life in building your business. How you go about recruiting and the kind of recruits you bring in are KEY to the success of your business. Do not lie to a prospective recruit. Don't even go into the "gray" area. Do not ever advertise a business opportunity as a "job." You don't want people on your team who feel like they got there under false pretenses. You need motivated people who understand what they are doing and why. You don't bring unqualified people into any business. Pick the best of the best and let them shine!

6. Don't Try to Re-invent the Wheel:

You do not want to re-invent the wheel for this, or any, business! If you have partnered with a reliable, successful MLM company, they will have a business model in place. Of course, you can add your own style and embellishments to your business, but overall, for the health and success of your MLM sales, you will want to follow the existing, proven business model, and make certain all of your recruits have been trained in the same manner.

7. Just Trying to "Sell" Without Remembering to Develop Relationships:

MLM is about TEAM BUILDING. The people who build the biggest, best teams usually reap the most rewards. If we're doing this properly, we're creating relationships based on teamwork, not just trying to get people into our own deals. People today can really feel the difference between when you're conversing with them and when you're trying to sell to them. Many people don't like it. Nor would you! You really don't like to be sold, and also you do not like the sensation you get when you're attempting to sell something. It does not sit right deep down inside. Thus, don't do it. Instead of trying to sell people, talk to them about being part of a team to create mutual success for all. This philosophy will be much better received and make people more open to what you have to say. Focus on developing good relationships, and good results will follow. That is critical.

8. Employing Too Many Strategies At Once:

When you first get started in your business and are introduced to several different marketing strategies at once, it's easy to get excited and to start trying to implement all these strategies at once. The truth of the matter is that this is a REALLY SIMPLE BUSINESS and you only need to master one or two strategies to be successful. When you divert and dilute your efforts into multiple strategies at once, your results get diluted, too. Plus, it becomes impossible to really know which strategies are working and which ones are not. Try one strategy at a time until you figure out which one works best for you, then go with it!

9. Choosing Quantity Over Quality in Lead Generation:

In our desire to get leads at any cost, we sometimes try make our products and businesses sound too sugary to the masses. Thus, words like “free”, “money back”, and “easy” have become common phrases in most ads. Many marketers also boast of places to buy leads or sites where you can get leads for free. Simple tweaks to your marketing efforts can significantly improve the quality of your leads. Let your ad make clear that you are looking for people who are willing to put in the effort required.

10. Going After the "BIG FISH" Right from the Start

So many people get into a business and set their goals too high too fast. The first people they go after are the ones they feel have the most potential. This is a BIG MISTAKE. If you just hired a new sales rep for your company, would your first assignment for him be the biggest possible account in the city? Of course not! When you first get into a business like this, you need practice. You need to be able to develop your skills so that when you deal with a "Big Fish" you know how to handle anything they throw at you and you look like you know what you are doing. The best way to lose a Big Fish is to appear like you just got started and don't know what you are doing. When you first get started, practice on people who aren't necessarily on the top of your list. This will help you prepare for the people on the top of your list.

11. Insufficient Capital to Sustain Business Long Enough to be Successful:

Just like any other business, an MLM business will have ongoing business expenses (product costs, advertising costs, travel costs, etc). If you are unprepared to handle these costs, you will most likely end up quitting the business before you can become successful.