Reasons why people fail to earn money from online businesses

Good morning, readers and followers.

I am going to highlight the various reasons why many people fail to earn money from internet marketing, MLM, affiliate marketing and any business for that matter. We have to understand that there is no risk-free business, and every opportunity has its unique challenges. We need to overcome these challenges to succeed in our businesses.

1.       Lack of focus: Many online marketers do not have focus. They set out to achieve one thing and along the line, because of the many opportunities that abound on the internet, try to do many things at the same time. This is surely a recipe for disaster. You have to do one thing, and stick with it; succeed in it before you move on to the next. That way, you devote all your time and effort to the thing that matters, and achieve good results.

2.       Wrong program: Some choose the wrong program. It is usually better to join an MLM opportunity which offers some residual income in the long run. Some people join affiliate programs which offers a one-time commission and after that, nothing else comes in. They get frustrated and fall out of the program.

3.       Expecting Instant riches: Many marketers join the business with high expectations of instant riches. They have a false expectation due to the overhyped advertisements they are gullible enough to believe. They expect to do no work, and as a result, get frustrated when they see the amount of work needed to achieve success, and subsequently give up.

4.       Failing to see projects through: Many people don’t have the required patience it takes to see projects through. They get impatient when they don’t see instant results.

5.       Lack of mentorship: People fail because they have no one to guide them through the rudiments of the business. Find a mentor if your sponsor is not doing his/her work.

6.       Failing to develop oneself: People come into online businesses knowing next to nothing about the business, and still expect to succeed. You need to educate and develop yourself in your line of business in order to succeed.

7.       Not having a definite plan: There’s a saying that says, “If you fail to plan, you plan to fail”. Some people only have a vague idea of what they want to do to succeed. They have no definite plan of action. And of course, they fail.

So, if you are a new network marketer, take a serious look at the above points and make sure you don’t repeat the mistakes of others. Persevere in your business, and success will be yours.

Is Multilevel Marketing a Scam?

    Many critics of the multilevel business model see it as a pyramid scam, where those who got in earlier are paid at the expense of the new entrants. They claim that no mathematical equation can support a pyramid, because it would mean that at a point, there would be no one left on earth to join if everyone were to join.

Other critics also claim there is a high failure rate for multilevel marketing and network marketing, sometimes as high as 97%, and majority lose more money than they make.

I am going to show readers why these arguments are flawed, and how they can overcome the limitations to their own advantage.

     To address the first question, I would use the words of Donald Trump, a world renowned entrepreneur and real estate guru, who said and I quote, “I am often asked if Network Marketing is a Pyramid Scheme. My reply is that corporations really are pyramid schemes. A corporation has only one person at the top, generally the CEO, and everyone else below.” MLM is really a small business franchise, where a larger company gives opportunity to individuals to do business and make profit, eliminating middle men. The advantages of network marketing are enormous:

·         You don’t have to quit your day job.

·         You spend less hours and work at your own pace

·         You leverage on the efforts of others.

·         You start with a relatively small capital compared with a traditional business.

·         You can earn as high as you want, depending on your own efforts.

·         It is a relationship business, where in order to succeed, you have to help others succeed.

      Of course, there are many scams out there, but at the same time, there’s so much information on the internet on how to locate the right opportunity. And Multilevel marketing is 100% legal.

         In answer to the second question, I would point out that it is on record that 95% of small business start-ups fail in the first year. Multilevel marketing is just like any other business, and the 2% failure rate greater than other traditional businesses is because most people do not realize it is actually a business they need to work at like any other business at the time if signing up. They are also deceived into thinking that riches come instantly. They get discouraged when they see it is not as easy as they thought and fail out. But MLM is actually easier to run than other business models and takes less of your time.

So, the solution to all these is the right education. Know what is involved to run a successful business and what is expected of you. Do your part, be consistent at it, help others, and watch success show up on your doorstep.

For more information on the right company to join, contact me on +2348035087631 or subscribe to our newsletters on this blog.

Offline marketing /advertising methods, especially for a novice network marketer

Hello readers and followers. So sorry I have not been able to update for some time now. I have been very busy but promise to be more regular from now on.

I want to talk a bit about offline marketing methods. These are generally all the methods used to attract prospects to your business without the use of the internet. As a novice, you’ll most probably start with these. These methods include:

·         Word of mouth: Generally involves talking to acquaintances, friends and family members about your business.

·         Distributing business cards: Print captivating business cards and hand out to people you meet every day, at your workplace, shopping mall, gym, salon etc. Usually works well with a smile, handshake and a few words about your opportunity. However, business cards tend to get lost easily.

·         Distributing flyers: You can hand out flyers to much the same way you distribute business cards. You can put some on car windscreens in a parking lot, or stand in a busy corner of a street to hand them out.

·         Mailing flyers or business letters: You can mail flyers or business letters to people in your neighbourhood using the local mail service. Find a way of getting local mailing lists from your post office. This method has been proven to work well.

·         Posters: Put up posters in conspicuous places and areas with much foot traffic.

·         Seminars and home parties: You can organize the traditional home parties where you invite people to your home, have someone talk to them about your business or play a movie about your business. Of course, you must have lunch or dinner for them. Seminars can be held in small halls, libraries, eateries, churches etc.

·         Telephone calls: Of course, I can’t forget the good old telephone. You can call up contacts on your phone, or ping them if you have a blackberry or any mobile app that allows pinging.

You need to be creative as well in these offline methods of marketing. Do things in an unusual way and people will notice you. Remember, whatever you do, do not create the impression that you’re desperate. Present yourself well, and your business prospects will come looking for you.