Different Reasons For The High Failure Proportion In The Network Marketing Industry
I got to thinking about this yesterday and thought I'd write a sudden post concerning my belief 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 opportunity for wealth creation for the average person. The entry fee to start your online business is economical and the benefit is excellent. 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 stalks of money while the marketer is either sleeping or on the beach.
To succeed online, it takes efforts. I realize...that's a word nobody wants to hear! To give you an instance, I got an email from one of my downline members lately who had received an email from his downline member. His downline member was doubting if the program she had joined was truly going to work as she hadn't gotten any registrations in her 1 day of marketing! She was feeling that the program might be a trick! This, unfortunately, is the mindset of the majority of "network marketers" and contributes greatly to the 97% failure percentage and more abrasion rates that we all the time hear regarding. This failure rate is equivalent with people starting off-line businesses too.
Many individual 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 verifying this but the failure rate of people who actually apply themselves and have a thrive-oriented mindset is much lower than 97%. Maybe less than 50%.
One more contributing factor is "The grass is forever greener on the other side". This statement is hardly ever right. I've studied this hard-way throughout the years in my offline business life. The solution is to get a business opportunity, or some, that you consider and that are legal, and work those programs. If you don't recognize how to market, study. 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 dynamic and we all have to study as much as we could and apply what we study in our marketing efforts. If you teach yourself constantly, you will comprehend above 95% of your rivalry. Many people are either overwhelmed or very lethargic (sorry) to apply themselves.
Then, it is the sponsor's job to relay this information onto their members. I have been engrossed in a few business opportunities where I never hear from my sponsor. These people will never be thriving. No matter what your experience level, you need to educate, mentor, and motivate your downline. At times this could be tough as they are not receptive but you still have to do it. This will come back to you ten-fold since your message will resonate with some.
Fundamentally, it is my opinion that the failure rate in network marketing is inflated by the people who shouldn't be in the business to start with. With a pessimistic mindset, there is no way to be flourishing. Without hunting out and following a verified system there is no way to be successful. For those who are providing true effort, and consistently 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 heaps of room for everybody who wants to accomplish something. And create the lifestyle that they've always dreamed of.