I got to thinking about this yesterday and thought I'd write a quick post regarding my view of why I feel the network marketing failure rate is so high...Why Do People Quit?
In my humble opinion, network marketing provides marvelous chance for wealth creation for the average person. The entry fee to begin your online business is cheap and the benefit is great. The minimum entry fee is why numerous people who do not have the capitalist drive get involved. They are suckered in by claims by companies of making gobs of money while the marketer is either sleeping or on the beach.
To thrive online, it takes work. I realize...that's a word nobody likes to hear! To give you an illustration, I got an email from one of my downline members recently who had received an email from his downline member. His downline member was wondering if the program she had joined was truly going to work since she hadn't gotten any registrations in her 1 day of marketing! She was thinking that the program may be a swindle! This, regrettably, is the mindset of the majority of "network marketers" and contributes highly to the 97% failure rate and more attrition rates that we all the time hear about. This failure rate is equivalent with people starting off-line businesses as well.
Many individual are just not outline to run their own business. It's not in their make-up and that's OK. But, this makes the failure rate arbitrarily more. I have no way of verifying this but the failure rate of people who actually apply themselves and have a success-oriented outlook is much lesser than 97%. Possibly less than 50%.
Another contributing cause is "The grass is forever greener on the other side". This statement is hardly ever true. I've learned this hard-way throughout the years in my offline business life. The solution is to find a business chance, or a few, that you consider and that are legal, and work those programs. If you don't understand how to market, learn. That's what I'm doing with MLM Lead System Pro. I have been in sales and marketing for my entire 20 plus year career. Online network marketing is lively and we all have to learn as much as we could and apply what we learn in our marketing hard works. If you teach yourself always, you will know more than 95% of your competition. Many people are either overwhelmed or very lazy (sorry) to apply themselves.
Then, it is the sponsor's work to relay this detail onto their members. I have been involved in a few business opportunities where I never hear from my sponsor. These people will never be thriving. Regardless of what your experience level, you have to instruct, mentor, and stimulate your downline. Sometimes this might be difficult because they are not receptive but you still need to do it. This will come back to you ten-fold since your message will reverberate with some.
Fundamentally, it is my opinion that the failure rate in network marketing is raised by the people who shouldn't be in the business to begin with. With a pessimistic mindset, there is no way to be successful. Without looking out and following a verified system there is no way to be thriving. For those who are providing real effort, and constantly educating themselves, I guarantee you that there is light at the end of the tunnel. Do not quit because this is a great business with plenty of room for everybody who wants to accomplish something. And create the lifestyle that they've forever dreamed of.
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