Why People Fail In Network Marketing

Why People Fail In Network Marketing

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https://dreamhacker.ws/ - 95% of people fail miserably in Network Marketing and it's not their fault. Discover the reason behind this and how to resolve the issues. You'll be surprised with the truth!

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Published 31 March 2018
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Language English
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Presented by: Richard Quek Website:https://dreamhacker.wsEmail:richard@dreamhacker.ws
CONTENT
Lesson #1: Who is Richard Quek
Lesson #2: What is Network Marketing Hack
Lesson #3: The Old Ways Of Doing Network Marketing No Longer Work Lesson #4: The 4 Main Problems Faced By All Network Marketers Lesson #5: How To Overcome These Problems
Lesson #6: What Are The Benefits
Lesson #7: Here Are My Recommendations
Lesson #8: Taking Action
Lesson #9: Conclusion
Lesson #1: Who is Richard Quek
My name is Richard Quek and I come from the sunny country of Malaysia. I come from a middle class family and was fortunate to go for my further studies in the United Kingdom. My parents had to use their life savings to send me there. I studied Chartered Accountancy in England. It was not easy as I had to work there as part of my course. I worked in a few Accounting firms and had to study on a part time basis.
After 8 years of working and studying in England I decided to return back to Malaysia. I decided not to work for anyone, so I decided to start my Accounting practice in Malaysia. I started my Accounting practice in the state of Terengganu(Kuala Terengganu)
I managed my Accounting firm for more than 20 years. It was during this period that I was introduced to Network marketing. I joined a popular company from the US and was with the company for more than 10 years. I learnt a lot and I started to fall in love with the industry as a whole. I did the business on a part time basis together with my wife, Nancy. We had some degree of success but did not achieve our dream.
After more than 20 years in my Accounting practice, I discovered that this is not what I wanted in my life. It was really hard work and there were many problems such as staff issues and collection problems. I also slowed down in my Network marketing business as there were some obstacles I was facing at that time.
I have dreams like others, to provide the best for my wife and children. I have 3 children, Daniel, Nicholas and Hannah. Today 2 of them are working with us to build their Network marketing business.
So after 20 years of managing my Accounting practice, we decided to sell it off and move to Selangor (see the above map). There were 2 main problems when I decided to move. Firstly, I have more than a million ringgit (about $300,000) of fees that were due to me. When I leave I am aware that I will not be able to collect a single cent. So can you imagine the fear I faced? However, I realised that fear is what holds us back from greatness. So I decided to forget about the RM1,000,000 and took a drastic decision to move.
The second problem is even a bigger one. I owed more than a million ringgit due to heavy losses in the stock market. This, I will surely have to settle!
I want you to realize that I have a wife and 3 small children at that time. When I moved to Selangor (Subang Jaya), I was RM 1million in debt and have no income or job. We literally moved on faith!
I still remembered, we rented a small house and we had to budget every day. The truth is that Nancy could not sleep most of the nights as she was worried for the family.
To make ends meet I started giving Internet marketing seminars. It kept us going but after a while it was just too stressful. I told Nancy that this will only be temporary as I do not see me doing this forever.
Then in 2004, I got a call from my friend, Micheal Ng from Australia. He is a Malaysian who had migrated there. He told me about a new Network marketing company from the US that market a unique food supplement. I provided him with my credit card details and every month 2 bottles of food supplement arrived at my home. Nancy was not happy as we were financially tight at that moment. She also refused to consume the product. The truth is that she got burnt out with Network marketing and said that all the Network marketing companies are the same. She refused to know of what I was involved with.
One day when I was in Singapore conducting my Internet marketing preview, I meet up with one of our upline from Australia. He told me he was coming to Malaysia and asked me to organize a meeting. Like most people I invited many of my friends and contacts. On the day, I still remember only 4 people showed up. Nancy was forced to come to open the small meeting room where she was conducting English classes to school kids. She sat at the back of the room! Surprisingly after the presentation, she told me that this is what we have been looking for!
By the way from the humble beginning of 4 prospects, two joined us. You know what? Both of them are gone from the business. However, we know what we wanted and continued showing the business to prospects.
After that we started working together and in just 10 short months we were able to achieve time and financial freedom. Were there challenges? Let me share with you a few of the obstacle we faced, when we first started.
1. We have no one to assist us as our enroller was in Australia. All he provided us was a set of slides. Without understanding about the products and compensation plan, we just read off the slides. You know what? As we keep reading the slides, we began to understand more about the business and the products. Some people actually joined us.
2. The company was not yet opened in Malaysia. I recalled prospects asking if theƌe is aŶ offiĐe iŶ Malaysia aŶd I haǀe to say ͚Ŷot yet͛. When they asked if I haǀe the pƌoduĐts, I told theŵ that I͛ll go to SiŶgapoƌe to ĐolleĐt theŵ. I literally was smuggling products into Malaysia. There was only one product available at that time. Despite the challenges, we persisted as I believed that
success is built on inconveniences. However, you can be convenient and remain broke for the rest of your life!
I still remember one incident that happened to me when we first started the business. It was a Wednesday and I drove to the office to order some products. I found a nice car park and parked my car. Then I opened the car door and stepped out, without being aware that there was a big hole beside my car. I fell into the hole but managed to keep myself up with my arms. I can see the next floor car park from the hole. I was slightly injured and had a black eye as my glasses broke. I still continued to the office to order the products. The manager asked me what happened and joked that I must have been punched by the prospects. This happened on Wednesday and we have a weekly meeting on the day and I was doing a presentation that night. What will you do in my situation? Most will be too shocked to attend. After all I have a legitimate excuse. Not me, I attended the meeting without any dark glasses and did my presentation as scheduled. You know why? I was hungry for success and did not find any excuses not to attend.
Fast forward to today, we live a life of time and financial freedom as we were willing to pay the price for success. We are still actively building the business although we can stop building as we have built the pipeline. We have been blessed tremendously and we are here to assist others to change their lives too. What we achieved from the business? 1. We have time and financial freedom. We are at home most of the time doing what we enjoy, watching movies, reading and surfing the Internet for knowledge.
2. We managed to send our son to the US to do his higher education.
3. We live in a 7 bedroom house. We also have other landed properties that we invested in.
4. We drive the cars of our dream. We bought a car for each of our children. We have 5 cars in the house.
5. We have been able to travel to many countries and enjoy great food and meet new friends. 6. The best satisfaction to us is to be able to assist others to change their lives. 7. I have been able to author more than 10 books. These are on the topics of Internet marketing, Network marketing and Personal development.
We have been able to transform our live through the business. Today we have many great friends and we have learnt to be more caring and patient. As a whole we have transformed ourselves physically, mentally, spiritually and financially.
I am telling you my story not to brag, but to impress upon you that you too can ĐhaŶge. It is a ŵatteƌ of deĐisioŶ. As the sayiŶg goes, ͚It is iŶ youƌ ŵoŵeŶt of deĐisioŶ, that youƌ destiŶy is shaped͛.
Stay tuned as in the next chapter, we will take a look at what is the Network MaƌketiŶg HaĐk…
Lesson #2: What is Network Marketing Hack
There are many reasons why many people fail in Network Marketing. In fact 95% fail ŵiseƌaďly iŶ this iŶdustƌy aŶd it͛s Ŷot theiƌ fault. The puƌpose of this ebook͚Netǁoƌk MaƌketiŶg HaĐk͛ is to ƌeǀeal to you hoǁ to ďullet pƌoof yourself against failure in your Network Marketing business. We will identify the various objections that many network marketers face and then then offer the solutions to these objections.
It is my hope that the information provided here, will be able to bullet proof yourself from future failure in the Network Marketing business.
Network Marketing is one of the best business models that can provide ordinary people with extra-ordinary success, life style, income and freedom. So do learn and implement the ideas provided here.
However, before we proceed, I want you to keep an open mind as the ideas here may be contrary to what you have learnt in the past. Please bear with me as ǁe͛ll take the journey together.
Lesson #3: The Old Ways Of Doing Network Marketing No Longer Work
Take a look at the above picture. Many people are still doing the Network Marketing business using the square wheel, the old ways of doing things. When someone tries to recommend them to use a rounded wheel, they are quick to reject giving excuses that they are too busy. It reminds me of a hamster in a hamster wheel. They do not realize that activity is not accomplishment. They are busy with activities but still end up in the same location.
In order for you to move on to the next leǀel, you͛ll Ŷeed to haǀe aŶopen mind and do things differently. If the old ways are not working, you need to change. To move to the next level, you need to do things you have never done before. It may be uncomfortable at the beginning but like all things, you will get used to it.
So aƌe you ƌeady to ĐhaŶge? If you aŶsǁeƌed ͚YES͛ theŶ ĐoŶgƌatulatioŶ, aŶd keep oŶ ƌeadiŶg. You aƌe iŶ foƌ a suƌpƌise…
Lesson #4: The 4 Main Problems Faced By All Network Marketers
When you talk to a prospect, they probably have these 4 objections on their mind. They may not tell you about it, but in order to close them you have to handle these objections. These objections are not new and most of you probably have faced them along the way when you are doing your prospecting. So let͛s haǀe a look at eaĐh of theŵ sepaƌately.1. STATUS
People make decisions based on the status they will be in when they make the decision. When the status is high, people will make a positive decision to join you. However, when the status is low, people will make a negative decision not to join. Generally with Network marketing, the status is low. Here are some reasons why the status is low. 1. Scam and Quick Get Rich Scheme.
Many people associate network marketing with scam and quick get rich scheme. As such the business is not legal and unfair. To make matter worst, many people lose money doing the business. I know of a friend who lost more than RM 1,000,000 (about $300,000) in a Network marketing program. This is because he was asked to purchase excessive stocks in order to achieve high ranks.
By the way the company is legal, but it is the leader who misled their team. You can achieve the highest rank, but you only make money when you move the products and have an active team.