9 of the BIGGEST LIES They Tell You in Network Marketing

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You get invited by a friend to go to a hotel. He doesn't tell you too much information. He said that he wants you to see something that will allow you to make extra income. It is a meeting with a speaker and a projector. The room is packed with people clapping and being very enthusiastic. There are people in front of the hotel staring at every car looking for the guest that they invited. 30 minutes into the presentation you realize that you are the only guest in this hotel meeting. You feel like you have to buy their product to stay alive. You get in your car sweating thinking “what was that?”.

All of us have had a run in with someone who tried to recruit them into a network marketing company.

The issue that we have with the network marketing industry is the fact that sales representatives embellish the features and benefits of the product. There are bad network marketing companies and there are good network marketing companies. People need to realize that if you start your network marketing business, you will have to learn how to sell.

Every business has numbers that you should evaluate. Let's talk about starting a business in America.

The average cost to start a business is between $30,000 and $40,000 dollars.

About 90% of startups fail.

65% of businesses fail in the first 10 years.

1 out of 5 businesses fail within the first year.

Have you thought about getting a real estate license?

90% of people who have a real estate license did not sell 1 house.

87% of real estate agents quit in 5 years.

Does this mean that the real estate industry does not work? The real issue is most people don’t finish what they started. 52% of marriages end in divorce.

The industry is not perfect but if you want to be an entrepreneur, this is a great option with the low price of entry. But let's talk about the biggest lies in Network Marketing.

1. Only do what you love

The saying goes, if you love what you do then you will never work a day in your life. It sounds good but this statement is not totally true. Most athletes become obese after their career. They sacrificed their childhood to become excellent in their sport. The athletes were healthy for 20 years. They worked out two times a day for 15 years. They play hurt, and watch films every day. The athletes will retire earlier than they should because they do not want to attend training camp because they hate working out twice a day.

Network Marketers will sell the dream to get more recruits. However, the worst part of becoming a distributor is finding people to use the product or service. You have to do what you hate to do in order to make a profit.

Jim Rohn stated “don’t wish for less problems, wish for more skills.

2. Stick and stay and you will get your pay.

This is one of the biggest lies that the top distributors tell the new associates. These are not proper expectations you should tell the distributors. The truth is 70% of distributors never sell the products or recruit one person. 98% of distributors lose money. In reality, most people are scared to talk to other people (prospects). If you run out of prospects, you will quit. You have to work on your weaknesses in the business.

Try to become better every day and have courage that you will face your fears of rejection and you will have success.

3. Exaggerating about your products and opportunity

Most Distributors oversell their product and under deliver. Most of us have purchased something that we regretted buying. Some people have bought a car that turned out to be a lemon. I purchased nonstick pots and pan sets I saw on commercials that did not work. However, people are smarter consumers now. They have the internet. Anytime you talk to a friend on the phone in regards to a product that you are recommending, your friend will unconsciously google to fact check your statement. Lying about what the product will solve will damage your brand.

The best advice you can implement is to undersell and over deliver with customer service.

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4. It's going to be easy

Many leaders in the network marketing industry train on how easy it is if you follow the system. They say you can work this business part time and you will have success by duplication. I've heard network marketing trainers say if you recruit 1 person a month then it will double every month. This is not true. You can not build network marketing business slowly. You have to create momentum. If you recruit one person a month, the person you recruit will quit before the ink dries on their application.

The industry numbers state the following: if you recruit 10 people, two of the 10 will do something. Eight people will quit or just become consumers of the product.

5. The product sells itself

Every leader in the network marketing industry believes that they have the best product. You should have confidence in the product you sell. After all, why would someone want what you have to sell if you don’t believe in it? But, most people think that they don’t have to pursue prospects to buy. People buy based on emotions and they will tell you logical reasons to explain why they made that emotional purchase. If the product sells itself, then the top companies would not pay influencers millions of dollars to endorse their products or services. Network marketing companies would not partner with independent contractors to sell their products. If you decide to pursue a network marketing career on a fulltime or parttime basis, you have to learn how the sales process works. Consumers are very intelligent and they will control the sales process.

Buyers are liars. You need to know your product very well and ask the right questions so you can understand what your potential client needs. Doctors are the best at probing to find out what their patients need.

So, make sure you understand that sales is a numbers game and you will have to work hard if you want to make network marketing your new career.

6. You're in business for yourself but not by yourself.

You will hear industry leaders in network marketing talk about how you will have unlimited support. Call your trainers and they will help you. There are distributors that created a beautiful atmosphere for new recruits to plug into. The truth is network marketing is a lonely business. You have to build your business by yourself. Every text you make, every meeting you have and every call you make to the prospect is lonely - just you doing the actions. Sadly, some network marketing leaders will not even talk to you if you are not producing for them. Some industry leaders will only try to create great relationships with people who are having success.

To help ease the loneliness of network marketing, make attempts to connect with the associates that have been where you are and they can coach you to reach all of your goals.

7. This business isn't emotional

You will be on an emotional roller coaster if you start a business. The main lesson I learned is people lie. Prospects feel like they do not have to be honest to you. They will tell you to come to their house and not be there when you arrive. They will tell you to call them on Friday and then they will buy your product. You call the prospect and they seem to go into a witness protection program. You will finally get a sale then three days later they will tell you they want to cancel. They will give you their contact information during the sales process. You call to follow up and they hang up on you. Some Days everyone will say yes to what you are offering. Make sure you discipline your disappointments.

Don't get too high when you have success and try to stay positive when the situation does not turn out the way you anticipated.

8. Everyone's a prospect

Network Marketing Companies will tell their sales team that everybody is their prospect. That is not true. There are two types of products. You have intangible products and tangible products. Tangible products are products you can touch, feel, taste and hear. Mary Kay, Amway would be in the tangible product category. Intangible products would be life insurance, financial programs legal insurance, identity theft protection.

Here's what happens when everyone is a prospect:

A single parent can not afford $200 life insurance but buys the policy anyway. Any time the car breaks down, he/she will cancel the insurance because they don't have disposable income. Most recruiters will tell this single parent that they can help this person leave his/her job and work the network marketing business full time. What the recruiter fails to mention is that the business will take time to build.

I never hire people who are depending on me to put food on the table.

The new recruit will quit as soon as they fail. Also, time is money. You do not want to meet with people who can’t buy what you are selling. However, they can lead you to a potential client. Before the housing crash banks and loan officers reduced their requirements to buy a home. A few years later numerous families were losing their homes because they could not afford the mortgage payments. Think about that before you try to sell to people who can’t afford your product.

9. Slow and steady wins the race

I have heard network marketing industry leaders say 'stick and stay and you will get your pay.' The reality is you can stick and stay and the leaders will get their pay. Slow and steady does not win the race in this industry. The vast majority of the people that you recruit will quit. You have a 24% retention rate with any distributor who does not make $1 from day 1. You will have a 70% retention rate if the distributor makes at least $1.

Build with a sense of urgency to create momentum in your organization. Treat your business like an airplane on a runway.

The airplane uses most of its fuel getting to an altitude of 40,000 feet. So, if you work your business parttime or fulltime, make sure you give it all you have to create momentum through your organization.