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VariousDiverse Reasons For The High Failure Proportion In The Network Marketing Industry
I got to thinking regarding this yesterday and thought I'd write a quick post about my opinion of why I think the network marketing failure rate is so high...Why Do People Quit?
In my humble opinion, network marketing offers tremendous opportunity for wealth creation for the average person. The admission fee to start your online business is inexpensive and the upside is great. The low entry fee is why many people who do not have the entrepreneurial drive get involved. They are marked in by claims by companies of making gobs of money while the marketer is either sleeping or on the beach.
To succeed online, it takes work. I know...that's a word nobody wants to hear! To give you an example, I received an email from one of my downline members recently who had received an email from his downline member. His downline member was doubting if the program she had joined was really going to work because she hadn't gotten any sign-ups in her 1 day of marketing! She was thinking that the program might be a scam! This, unfortunately, is the mindset of nearly all of "network marketers" and contributes greatly to the 97% failure rate and high attrition rates that we always hear about. This failure rate is the same with people starting off-line businesses too.
Most people are just not cut out to run their own business. It's not in their make-up and that's OK. But, this makes the failure rate arbitrarily high. I have no way of proving this but the failure rate of people who actually apply themselves and have a thrive-oriented mindset is much lower than 97%. Probably lower than 50%.
Another contributing factor is "The grass is always greener on the other side". This statement is rarely true. I've studied this hard-way throughout the years in my offline business life. The key is to find a business opportunity, or a few, that you believe in and that are legitimate, and work those programs. If you don't know how to market, learn. That's what I'm doing with MLM Lead System Pro. I have been in sales and marketing for my complete 20 plus year career. Online network marketing is dynamic and we all need to learn as much as we can and apply what we learn in our marketing efforts. If you educate yourself consistently, you will know over 95% of your competition. Most people are either overwhelmed or too lazy (sorry) to apply themselves.
Then, it is the sponsor's job to relay this information onto their members. I have been involved in some business opportunities where I never hear from my sponsor. These people will never be successful. No matter what your experience level, you need to educate, mentor, and motivate your downline. Sometimes this can be difficult as they are not receptive but you still need to do it. This will come back to you ten-fold because your message will resonate with some.
Basically, it is my opinion that the failure rate in network marketing is inflated by the people who shouldn't be in the business to begin with. With a negative mindset, there is no way to be thriving. Without seeking out and following a proven system there is no way to be successful. For those who are giving real effort, and consistently educating themselves, I assure you that there is light at the end of the tunnel. Do not give up because this is an excellent business with plenty of room for everyone who wants to succeed. And create the lifestyle that they've always dreamed of.
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