Problems With Home Based Business
By Jackie Khor
24 March 2008
An Interesting Fact is that 95% of Home Business Owners never make a 6-Figure Income!
Millions of people are jumping onto Multi-Level or Network marketing but very few are actually becoming successful from it. Why does everyone think this is an industry of easy-riches when the reality is that most are failing dismally within their first 5 years?
The reason why most people have problems with their network marketing business is because they don’t truly understand how the industry works. Often, this is because they were sold a pack of lies from some company that reeled them in on false hopes and promises. Some simply join 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’s 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 you will be have a residual income working hard for the first few years. However, once you are 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 the 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 the 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 networking 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 products information. Yes, MLM is indeed a simple business but it does take the tenacity and professionalism to make it a 6 figure income.
Your Business Has Nothing To Do With Your Company. Your Job/Business is marketing
Yes, you heard me right. “Your Business is marketing”
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 an MLM program. Even if they are kind enough to buy from you, chances are you won’t become a millionaire in 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 some work involved. 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 your 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 other people on their teams or from their systems.
Simply put, traditional marketing is an ineffective “shotgun” marketing strategy because a scatter shot won’t get you very far and it has become more expensive. The public is bombarded with commercial ads and making matters worse for businesses is that today’s technology have literally enabled people to put up a “firewall” around their lives.
Note that, I am not against the traditional form of network marketing. They have their place and importance. 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 simply can’t sell steaks to a vegetarian!
You probably already know this basic stuff. Get to know your prospects by building a relationship with them. However, this is one skill newbie find it hard to grasp all at once which make 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 a business owner for much longer.
Online marketing changes that and 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 what you have got.
How do you do that?
The quickest way is to use Google to tell you who are interested in what you have got because over 90% of internet users are using Google for searching. This number is growing at a phenomenal rate each year. You bet 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. Yes, to begin it will take great effort and time in creating your capture page, sales letters, 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? Please don’t. You can have what they have achieved if you are willing to give it a go. Building 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 of 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 those whom cannot wait to purchase your product.
And all of this can be done automatically and cheaply once you setup your attraction marketing system.
If you do this correctly, your marketing costs are self-funded which induces your potential customers to pay for your marketing, regardless of whether they buy your product or not.
Does this self-funding leads process appeal to you? These methods are revealed in detail by my colleague, Mike Dillard. Check it out at:
http://budget.resultmakemoney.com
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Good Layout and design. I like your blog. I just added your RSS feed to my Google News Reader. .
Jason Rakowski
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Multi level marketing is the way to go. There are lot of god info out there these days. The most important thing is to take “positive action” . Multilevel marketing With loads of people joining MLM these days , its te best time to join MLM. Thanks for the nice info my friend.
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Hi Salina,
If you know you would fail, what would you be involved in?
Jackie
http://www.resultmakemoney.usana.com
http://www.productsonline.usana.com
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