This article explains the characteristics of the network marketing community based on Mining City and answers one not so simple question – why do most people fail in Multi-Level Marketing?
What Google Won’t Tell You About Mining City
Network marketing – also known as Multi-Level Marketing (MLM) – is the fastest growing business model for several reasons. But the one thing that stands out in this sales technique is the people behind it, in other words, the precious Community that the entire business model depends on.
It is no secret that a united and goal-oriented community is key to a successful network marketing business. These individuals not only sell the company’s product or services but are also the ones who expand the network and help it grow.
Sadly, a quick Google search for details about a networking community talks more about scams and fraudulent schemes than about positive aspects of being a part of a network.
“There is no power for change greater than a community discovering what it cares about.” – Margret J Wheatley
Understanding Community Dynamics
The Mining City community share a common goal – to unite their strength and take an advantage of mining cryptocurrencies’.
MLM communities are structured in a way that they allow for the network to grow without it being saturated. So, companies basically encourage their existing distributors to recruit new distributors who are paid a percentage of their recruits’ sales. The recruits are the distributor’s “downline.” These distributors also make money through direct sales of products to customers. All network marketing communities have an upline, a down line and a compensation plan.
To understand this better, let us take a closer look at what the Mining City Community looks like.
Mining City is a global company that operates in over 50 countries worldwide, it provides its community members with the platform to build their own business freely from wherever they are located. The company has over a million accounts and has sold around 850,000 Bitcoin Vault (BTCV) mining plans.
So, how is this done? Each customer receives a referral scheme that gets them rewards for each of the plans they sell. Therefore, the business benefits the networkers in two ways. They continuously receive their crypto mining revenue and rewards, as well as certain subsidies and benefits for growing their network. All Mining City customers receive mining rewards directly from the blockchain.
5 Reasons Why Most People Will Never Succeed in MLM
Multi-level marketing is not for the fainthearted or for anyone not willing to put in the work. It really cannot be considered a form of revenue.
There are several reasons why not everyone is successful in network marketing. Here are the top five reasons why marketers have failed:
#1 Only Money Counts
Although there is nothing wrong with using money as a motivational factor in MLM, it shouldn’t be the only reason you are doing it.
Most people fail from day one, as many join the business because they think it’s easy money. This is why most network marketers fail to breakthrough.
So if you want to succeed as a network marketer, you must bear in mind that network marketing is a business. It has an accounting, sales and management process – you can’t ignore any of these.
Let’s not forget that this is business and therefore like in any other enterprise or business your main goal should be to provide your customers with value.
#2 Failure to Network
Network marketing or MLM is after all about networking. Therefore, failing to do so will obviously directly impact the business. Failure to build a strong support system leads to failure in business.
Network marketing is mainly about building relationships and using the network to drive business. Hence, you should be able to show new recruits and your customers how they can benefit from joining the network.
The failure to network, mainly happens because the marketer is just not prepared to be a network marketer and has no plans about how he or she wants to grow with the network.
So many marketers tend to fail because they aren’t prepared to give their business time.
Always remember, network marketing is a business that requires your time more than your money.
#3 No Sales Skills
MLM requires marketers to do a lot of one-on-one sales, which unlike marketing is done at a personal level.
Many new members of multi-level marketing businesses do not realize that they would have to do a lot of selling on a one-on-one level.
The difference between marketing and sales in MLM company is that marketing is done through a system while sales is done on a personal level.
#4 Not a Leader at Heart
The lack of leadership skills is a primary reason why network marketers do not always succeed. Network marketing is an industry where average people are recruited and turned into great leaders and entrepreneurs.
It’s a business where you maintain a personal relationship with your down-line distributors, and this involves teaching and helping others replicate your success strategies. It boils down to leadership and, unfortunately, for those who do not possess natural leadership skills, network marketing can be a nightmare.
#5 Giving up too Soon
Many marketers just do not spend enough time on their network-marketing business and tend to easily give up when they fail. If you find yourself in a rut, the best thing to do is sharpen your skills and invest more time.
Benefits of Being Part of a Networking Community
There are several benefits of being a part of a network marketing community, especially in the crypto world if you choose the right company.
So, instead of looking for “get rich quick scheme”, which are mostly scams, look for a company with a steady reputation, which has been through ups and downs but has delivered what it has promised. If you choose the right company, the risk of failure is low compared to traditional businesses.
For instance, all Mining City members really need to do relax as their mining revenue grows. They do not need to worry about the mining itself, nor the maintenance of the mining equipment and farms. Mining City takes care of it all. Also, to support its global clientele, Mining City has established customer support in 20 different languages. These representative work round the clock seven days a week to serve all Mining City customers in the language they are most comfortable in.
In many cases, MLM communities are like families, willing to help each other out. They stand together through the good days and the bad. So, if you are having a hard day, speak to others in your community. They will be able to help you out. And always remember, persevere, keep your eyes on the finish line, and keep on working. Good things always come to those who work hard.
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