Any person who starts a business knows how risky their decision is. Business is for risk lovers and creative people who want to be their own boss instead of working for anybody else. Despite starting a business fully aware of the risks, many people tend to give up on their business at an early stage. Also, almost 75 per cent of entrepreneurs quit their business within 10 years. From the extensive research I did, and the thing or two learned from my QNET business, I came to the conclusion that managing the early career setbacks has a long-term impact.
The early career setbacks in direct selling are rejections and slow growth. Getting your business plan declined by the target audience is discouraging. But it can continue to happen for a while, slowing down your business. People who give up on direct selling quickly in this early phase must have mistaken it for a get-rich-quick scheme or easy money-making method. On the other hand, if you have perseverance and work hard even when there are no immediate results, you will surely succeed after some time.
This article deals with the top ways to handle the early career setbacks in network marketing. With right steps and decision, you can get your business off the ground.
Focus on Sale of Products
While you are waiting, focus on the sale of products which is a much easier way of making a profit than network growth. As more people get familiar with the products and business, it will naturally aid the network, too. Customers who join your network have access to the product at a much discounted rate. So, even if they are not interested in doing business, buying products for a much cheaper rate is a good move for them. This is a win-win situation for you too. So, while waiting and working on network growth, give importance to the sale of products.
Do Self-assessment
Instead of feeling discouraged, you can choose to reflect on yourself. Look into the business and the decisions you’ve made. See if anything went wrong at any point. If so, you can work on it during the phase of slow growth, which helps you out of the situation. Learn about your strength as a business person, but give more importance to your shortcomings. Once you learn about your weaknesses, you can work on them, which may help you survive challenging times.
Invest in Yourself
Greater things happen when you set aside time to work on yourself and learn new things. As much as discouraging the setbacks, rejections, and slow growth is, if you spend time on improving your skills and knowledge, you’ve better scope for success. Waiting for a big difference in direct selling means working in the meantime and having perseverance. No miracle would happen to change the crisis of early-stage unless you invest in yourself and become the best version of yourself.
Analyze and Anticipate
To survive challenging times in business, you need to know the right decision to make. Research is a necessity to deal with early career setbacks in network marketing. After in-depth research, your can analyzes and anticipates future events. Doing research and anticipating changes will give you an upper hand in business. It gives you the time to plan your actions and decisions.
Find a Mentor
It would be best if you had the support of a mentor, especially in the early stage. Commonly, almost everyone in network marketing goes through these early-stage business crises. But the one who survives has taken the advice of mentors seriously while learning to work independently. Yes, having a mentor means having guidance and help with the crisis, but that doesn’t mean you can lean on them too much. A good mentor will always help you become confident and independent in business. So, find a mentor to learn how to deal with a business crisis. Then learn from them how to become independent and make decisions on your own.
Well, the number one thing you need to overcome a business crisis is the passion for learning. If you are willing to learn, change and invest in yourself, you can survive the early career setbacks and rejections. While working hard, try to be patient and wait for the result. If you’ve perseverance and continue to work even when there’s no immediate result, it’s a guarantee that you can win in network marketing. Over time, you will win the trust of customers and target audience. The recognition and familiarity will be a support for your success.