Network Marketing Failure - Reason Two
Posted in Watkins Business by Eldon on October 18th, 2006 As discussed in the first article of this series, network marketing (sometimes called MLM) is one of the most profitable home based businesses you can start. Sadly, most people who start network marketing businesses fail to make any money, and many lose money trying. They never achieve their goal, whether it is to work at home full-time, or just earn an extra $500 each month. I say, “never achieve their goal”, but this is assuming that the new network marketer has a goal for his/her business. Unfortunately, most do not. This installment will discuss the lack of clearly defined goals, and how that affects success.
It is important to know what you want from your business. You need some direction, some reason to succeed with your new home business. It isn’t enough to say “I want to make more money” or “I want money so I can buy what I want and help people”. Just about everyone wants those things. You need to have a clear vision, a focus on what you want to achieve and why. What do you want out of life? You should have these things written down and refer to them often.
As an example, someone starting a new Watkins business might say “I hate my job and I want to get out of it.” That is a noble objective, and something many people secretly want, they just don’t know how to get it done. However, this goal as stated is weak. Upon doing some analysis, our new Watkins associate might come up with some more focused objectives:
“I hate my job and I want to leave it within 3 years. I need to earn an income of at least $30,000 per year in order to do this. I want to work from home with Watkins so I can spend more time with my children and also have time to enjoy my hobbies (you would name these).”
At that point, with a much more focused vison, our new Watkins associate could discuss this goal with their upline and decide on a plan of action. A set of sub-goals could be built around the main goal, which is to achieve a net income of $30,000 per year with Watkins. These sub-goals would focus on how to sponsor the required number of new Watkins associates, how to build a small to medium retail customer base, and how to help newly sponsored Watkins associates succeed and grow their individual businesses.
All of these things, together, will move the new associate toward their desired objective. If the goal was still something vague like “I want to make more money”, how could you build a plan of action around that? It is important to know what you want, and when you want to achieve it. From there, an intelligent plan can be built and followed in order to achieve that success.
About the Author:
Eldon Beard is a Watkins Manager with Associates All Across the USA and Canada
