Network Marketing - Get Rich Quick Or Get Rich Quicker?
Posted by Reyn | January 20, 2009
Many distributors have this common misconception that network marketing is a get-rich-quick program. Of all pitfalls in network marketing, this one comes at the top of the list.
Here’s how this misconception is born…
The number one reason people joining network marketing is to make money. Now, from the point of view of advertisers, which one of these ads is more compelling for their prospects: get rich quick or get rich slowly but steadily?
It doesn’t take a rocket scientist to figure out this basic psychology of human being. Of course everyone wants to make money faster. But the blame should not be entirely given to the advertisers – it is beginners who seldom see behind the scene of those heavy hitters. Let me explain this further.
Have you ever heard about the iceberg theory?
In Antarctic, the floating tip that we see only accounted about 1/8 of the entire iceberg. From this model, the iceberg theory assumes that for every end results we see, there are many other invisible/less visible events that are going on behind. In this context, the results that we see in successful network marketers are only the tip of the iceberg and there are many things going on in their journey.
From what I learn in studying brilliant network marketers, majority of them were disasters in their early days. Yet many network marketing beginners fail to identify the bigger part of the iceberg and believe that network marketing is easy. Although many of heavy hitters stated how they were once a terrible marketers, beginners tend to focus what they WANT to hear instead of what they NEED to hear. Once they begin to realize that they are not making that much money (or worse, losing them), they hit the invisible iceberg and quit.
Set your goal in a realistic manner and in increment. Making $100,000 next month without any prior experience ans skills is the same a dreaming to be a full-fledged astronaut straight after finishing your college. Your first milestone should be small, maybe $300 per month. I know that many people encourage you to set a stretch goal to make you more excited, but it’s proven to be quite dangerous. Not many people have the motivation and perseverance to stay in the game long enough. Once they find they barely making profits after 2 months, they feel earning $100,000 is impossible and then give up on network marketing.
Take your time in getting the first steady $300 per month checkpoint. At this time, you should have a positive cash flow and there’s no harm in continuing. Once you nail it right, you can feel the grip of the game. Now you should be able to realistically project your income a few years down the road. Remember that although this road to riches seems slower, it’s significantly faster than going on the conventional way of working 9-to-5.
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Posted in Network Marketing Success Principles |
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9 Responses to “Network Marketing - Get Rich Quick Or Get Rich Quicker?”
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I think network marketing will be a disaster for a person who just want to get rich quickly. I’ve joined an MLM company and it didn’t work for me. Yeah, that’s my first experience as a network marketer. In other words I stop being a network marketer.
Andy’s last blog post..How to generate traffic and build list at the same time.
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Indeed, Andy. After all, the main reason many people drop off from this industry is wrong expectation.
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Yeah I knew that. I dropped off because of my high expectation about making money faster and easier. But now I realized that there is no wealth without hard work. And there is no instant wealth program.
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MLM programs usually do not work for people- but then again, they usually go in to it for the wrong reasons.
Anyone with a little creativity and know-how can make something of themselves online. Having some good connections doesn’t hurt either!
JWRmedia’s last blog post..Strange, Amazing And Odd Photos
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Like the way you explained “Getting Rich Fast or Getting Rich Slow” using the “Iceberg Theory”. Network Marketing is a great way to have residual income but yes, it does take time, personal growth, and commitment. Thanks for sharing.
Joyce Jacobsen’s last blog post..Article Marketing Secrets: Converting Resource Boxes into Cash Registers
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New distributor usually think network marketing in an event that will let them succeed in life, but the fact is “success is not an event but a process they they need to go through before they even see the event which is the day they succeeded !”
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Good point. Success is indeed not a destination. It’s the journey from failure to failure without losing enthusiasm.
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Great post here, but I hope people don’t get confused by get rich quick scheme and working to make money online. They don’t go together!
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Great post Reyn -
at the end of the day, it’s integrity that
creates trust and trust builds authority and
from there you succeed in any business!
Keep going!
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