Why Is The Failure Rate In The Network Marketing Industry So High?
I got to thinking about this yesterday and thought I'd write a sudden post regarding my opinion of why I think the network marketing failure rate is so high...Why Do People Relinquish?
In my humble opinion, network marketing gives tremendous chance for wealth creation for the average person. The entry charge to begin your online business is inexpensive and the upside is excellent. The low entry fee is why many people who do not have the capitalist 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 thrive 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 wondering if the program she had joined was actually going to work since 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 the majority of "network marketers" and adds highly to the 97% failure rate and high erosion rates that we always hear about. This failure rate is equivalent with people starting off-line businesses as well.
Several 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 by chance high. I have no way of verifying this but the failure rate of people who actually apply themselves and have a success-oriented view is much lesser than 97%. Probably lower than 50%.
One more contributing reason is "The grass is always greener on the other side". This statement is hardly ever true. I've learned this hard-way all through the years in my offline business life. The solution 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 entire 20 plus year career. Online network marketing is active and we all have to learn as much as we can and apply what we study in our marketing efforts. If you educate yourself always, you will know more than 95% of your rivalry. Many 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 a few business opportunities where I never hear from my sponsor. These people will never be flourishing. Regardless of what your experience level, you need to educate, guide, and motivate your downline. Sometimes this might be difficult because 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.
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 successful. Without hunting out and following a verified system there is no way to be successful. 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 a great business with heaps of room for everybody who wants to succeed. And make the lifestyle that they've always dreamed of.
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