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Why Is The Failure Percentage In The Network Marketing Industry So High?
I got to thinking regarding this yesterday and thought I'd write a quick post about my view of why I think the network marketing failure rate is so high...Why Do People Give Up?
In my humble opinion, network marketing gives tremendous chance for wealth creation for the average person. The admission fee to start your online business is cheap and the upside is superb. The low entry fee is why many people who do not have the capitalist 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 no one wish to hear! To give you an example, I got 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 feeling that the program could be a scam! This, regrettably, is the mindset of nearly all of "network marketers" and contributes greatly to the 97% failure rate and high abrasion rates that we always hear about. This failure rate is equivalent 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 randomly high. I have no way of verifying this but the failure rate of people who actually apply themselves and have a thrive-oriented mindset is much lower than 97%. Possibly lower than 50%.
An additional contributing reason is "The grass is always greener on the other side". This statement is hardly ever true. I've studied this hard-way throughout the years in my offline business life. The key is to find a business opportunity, or some, that you believe in and that are legitimate, 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 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 study in our marketing efforts. If you educate yourself always, you will know over 95% of your competition. Most people are either overwhelmed or too lethargic (sorry) to apply themselves.
Then, it is the sponsor's job to relay this detail 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 have to educate, guide, and motivate your downline. Sometimes this might 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 reverberate with some.
Basically, it is my view that the failure rate in network marketing is increased by the people who shouldn't be in the business to begin with. With a pessimistic mindset, there is no way to be thriving. Without seeking out and following a proven system there is no way to be thriving. For those who are giving true effort, and consistently educating themselves, I assure you that there is light at the end of the tunnel. Do not quit because this is an excellent business with plenty of room for everyone who wants to succeed. And make the lifestyle that they've always dreamed of.
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