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Why Is The Failure Percentage In The Network Marketing Industry So High?
I got to thinking about this yesterday and thought I'd write a sudden post about my belief of why I think the network marketing failure rate is so high...Why Do People Quit?
In my humble opinion, network marketing offers marvelous opportunity for wealth creation for the average person. The entry charge to start your online business is economical and the advantage is great. The low entry fee is why numerous people who do not have the entrepreneurial drive get involved. They are suckered in by claims by companies of making stalks of money while the marketer is either sleeping or on the beach.
To succeed online, it takes efforts. I understand...that's a word nobody wants to hear! To give you an illustration, I received 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 actually going to work because she hadn't received any sign-ups in her 1 day of marketing! She was thinking that the program might be a swindle! This, unluckily, is the mindset of the majority of "network marketers" and adds greatly to the 97% failure percentage and high attrition rates that we always hear about. This failure rate is the same with people starting off-line businesses as well.
Several people are only 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 success-oriented view is much lower than 97%. Maybe lower than 50%.
Another contributing factor is "The grass is forever greener on the other side". This statement is rarely true. I've learned this hard-way all through the years in my offline business life. The key is to get a business opportunity, or a few, that you believe in and that are legal, and work those programs. If you don't recognize 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 active and we all need to study as much as we can and apply what we learn in our marketing efforts. If you teach yourself constantly, you will know more than 95% of your rivalry. Most people are either besieged 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 a few business opportunities where I never hear from my sponsor. These people will never be flourishing. No matter what your experience level, you must teach, mentor, and motivate your downline. Sometimes this could be difficult because they are not receptive but you still have to do it. This will come back to you ten-fold because your message will vibrate with some.
Mostly, 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 successful. Without hunting out and following a proven system there is no way to be flourishing. For those who are giving real effort, and consistently educating themselves, I guarantee you that there is light at the end of the tunnel. Do not give up because this is a great business with heaps of room for everyone who wishes to thrive. And create the lifestyle that they've always dreamed of.
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