Network marketing is growing in popularity in the country. It is a business model that involves individuals creating networks and building their teams. The direct selling industry provides opportunities for individuals to start their own businesses through network marketing. However, there is scepticism amongst individuals when they consider joining a direct selling company.
People often have preconceived notions about it or generally misconstrue its meaning. Now, those who understand its potential and sign up for the opportunity are the ones who want to break conventions and try their hand at something different. There is no denying that this path is unconventional, and it is also true that not everyone can succeed in the business.
When individuals fail in a network marketing business or experience rejection, they often attribute the whole process as faulty. They believe that something is wrong with the system or the company providing the opportunity. To rectify these notions and provide a clear perspective, let’s look at the 5 reasons why people fail in network marketing.
Why do people fail in Network Marketing?
Network marketing provides great prospects for an individual to succeed. Many entrepreneurs in the industry have scaled their businesses to great heights. Although, their journey was not easy. The chances are that they had to face multiple challenges to achieve their goals.
Here are the most common reasons why network marketing businesses fail and why individuals would want to put their businesses to a halt –
1) Doubts and inhibitions
Network marketing is unconventional. It isn’t a regular job with fixed timings or a corporate structure. It is also rather new to the majority of the population in the country, who are still trying to comprehend the specifics of the business. Moreover, certain individuals are propagating a narrative that isn’t positive. These people might lack knowledge or would have had an unfavourable experience that has led to their consternation.
Now, this creates doubt about whether network marketing is the right choice. Another factor that might lead to inhibitions is the fear of stepping out of the comfort zone. Most people tend to settle by choosing a career path that gives them the most security. They usually tend to fear criticism for choosing an unconventional path.
2) Not learning the trade properly
Often individuals sign up for the opportunity and assume that it doesn’t require hard work. They misconstrue it with notions of “get-rich-quick” or an investment scheme. However, the truth is far from it. Like any other endeavour, network marketing requires individuals to work hard and, more importantly, develop the necessary skills to become successful.
A few skills that an individual requires include marketing, public speaking, presentation and networking. An individual wouldn’t be able to grow the business without spending enough time crafting their skills. Moreover, the individual must spend time learning the trade while seeking guidance from their mentors.
QNET India provides a vast resource of marketing collateral and educational material for aspiring distributors to learn and expand their knowledge. To stay up-to-date, they can also keep a tab of QNET India’s Social Media channels and QNET India’s official blog – QBUZZ India. However, the individual must ensure that they refer only to these official channels and documentation to access accurate information.
3) Lack of practice
“Practice makes a person perfect” – the old adage holds true for network marketing too. Individuals take long gaps between their presentations and action steps. They tend to lose the flow that one requires to continue their growth. Another thing that happens during long gaps is that they plateau or stagnate at the same place. This is again an overwhelming situation, one that forces individuals to wonder if they will progress.
The idea is to remain consistent in their business. This requires an individual to continue prospecting and approaching more customers. It may require the individual to stay consistent with presentations. Also, it is crucial for an individual to persevere in the face of failure or rejection.
Consistent hard work is sure to yield results. Individuals must find the courage to stay true to their paths and focus on their efforts to achieve their goals.
4) Seeking shortcuts
One of the most important things that individuals must understand is that there are no shortcuts in network marketing. There is nothing called free lunch. The path requires individuals to go through a long-drawn process from the beginning. They must start by learning the fundamentals and implementing them in their business.
The journey also requires patience. It might take a long time for individuals to see results. They must continue working hard, especially when they are not getting the results they desire. Often during such situations, individuals resort to shortcuts. This may involve providing wrong information to prospects or pressurising them to sign up for the opportunity. They may also deploy tactics that aren’t in line with the company policies.
Individuals must note that it is a clear violation of the company’s Code of Ethics. QNET India provides clear guidelines for individuals to ensure they provide accurate information about the products and opportunities. In addition, they must give prospects enough time to process and understand the opportunity clearly.
Distributors must also note that QNET has a Zero Tolerance policy towards unethical practices. The company has a Network Compliance Department (NCD) that monitors network behaviour. So, any violation of the policies results in penalties and ultimate termination.
5) Fear of rejection and failures
Now, this brings us to perhaps one of the most common reasons why network marketing businesses fail or why individuals quit their journey. The fear of failure is present in almost everyone. All of us experience failures in different forms and phases in life. It is inevitable for individuals to experience rejections in network marketing. In fact, even the most successful QNET entrepreneurs had to endure rejections in life.
QNET’s successful entrepreneurs are the ones who were able to weather through these failures and emerge stronger. They use these rejections as an opportunity to improve their presentations and their approach to business.
Individuals who truly seek to become successful distributors must learn to treat rejections as a feedback mechanism. They must use it improve themselves and enhance their approach. Albeit, it will require time and it might even test one’s patience and dedication. But if one pursues this with sincerity, it might be the most worthwhile endeavour of their lives.
The QNET business opportunity
QNET is Asia’s leading direct selling company that works with a mission to empower individuals and help them become financially independent. QNET’s network marketing opportunity provides all the necessary tools and resources that an individual requires to become successful.
QNET’s e-commerce platform has a wide range of world-class products and services. It integrates modern technology and business practices to provide the most feasible opportunity for individuals to start and scale their businesses.
What’s more, individuals do not need large capital or operational costs to run their businesses. They do not need to worry about packaging or delivery. The company takes care of all these requirements. The best part is that they can sign up for the opportunity without any additional si