Get Rich Quicker Or Get Rich Quick In Your Network Marketing Business
Trying to earn quick money in network marketing is considered to be the quickest way to fail in your network marketing business. A lot of people get into this industry with this flawed, get-rich-quick mindset, and they fail to realize that network marketing is really all about creating a slow, long-term, interconnected business.
If you are in network marketing with this get rich quick mindset, I strongly advise you to consider this fact: Would you rather burn yourself out making $1,000 a month for a few months, wearing yourself out, and then crashing and burning? Or, would you rather work steadily and build a strong, ever-increasing residual income of $50,000 per month or more for the rest of your life, even AFTER you’ve stopped doing network marketing?
The choice may seem really obvious, but greed often blinds our eyes to the rewards of being patient and waiting for delayed gratification
Here are a few of the reasons why earning quick money is actually one of the worst ways to build your network marketing business:
- Quick money is short term: Network marketing is a business where people build a huge income over a period of time through the efforts of many people. Think of it this way: would you rather use 100% of your own strength, or 1% of the strengths of 100 people?
- Network marketing is more of a teaching industry rather than a sales industry. Even though sales are certainly involved in network marketing, it is not the best seller who wins the day. Rather, it is the best TEACHER that succeeds. Remember, network marketing is all about duplication. It is not a one-man show. You can sell thousands and thousands of dollars every month, but you are still one seller and you seriously can’t do the same thing forever. Wouldn’t it be better to teach two people how to sell or consume a quality product and teach them how to teach others to do the same? Wouldn’t it be a lot simpler?
- Network marketing doesn’t provide huge commissions unless you have a huge team. Many network marketing companies offer huge commission checks to the leader who builds the largest sales volume through their network - not from their PERSONAL sales. Most network marketing compensation plans also increase your payouts only after you’ve helped others to reach their goals as well. So don’t be selfish and focus only on yourself – help others succeed first, before you succeed.
- You might tempt other people into frontloading. Most people should join network marketing companies at an entry level that they are comfortable in. You may earn more commissions by getting your new downlines to frontload. But if they are in financial trouble or if they lack the proper training, your downlines will drop out from your network like a flash, and you will have no one left in your team to lead. Your downlines are your golden goose, so please don’t cut them open – feed them and nurture them so they can lay more eggs, and they will all have golden geese of their own that will benefit you in the long run.
You have to get rid of the “get rich quick” mentality - not only is it totally destructive to your network, but you might even get a bad reputation if things go sour. Make sure you are prepared to commit the next two to five years to your network marketing business.
Tan Min Chun is a network marketing expert. Download your free report and audio on how to use the internet to Double or Triple your organization fast. Available for a limited time only, click below for instant access.
http://bernardtan.hownetworkmarketingworks.com
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