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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 regarding my belief of why I think the network marketing failure rate is so high...Why Do People Quit?
In my humble opinion, network marketing provides tremendous opportunity for wealth creation for the average person. The entry charge to begin your online business is economical and the upside is great. The minimum entry fee is why many 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 thrive online, it takes efforts. I know...that's a word nobody likes to hear! To give you an example, 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 truly going to work since she hadn't received any sign-ups in her 1 day of marketing! She was thinking that the program may be a scam! This, unfortunately, is the mindset of the majority of "network marketers" and adds highly to the 97% failure percentage and high attrition rates that we all the time hear about. This failure rate is the same with people starting off-line businesses as well.
Many individual 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 more. I have no way of proving this but the failure rate of people who really apply themselves and have a success-oriented outlook is much lesser than 97%. Maybe lower than 50%.
Another contributing cause is "The grass is always greener on the other side". This statement is rarely factual. I've learned this hard-way all through the years in my offline business life. The solution is to get a business opportunity, or a few, that you consider and that are legitimate, and work those programs. If you don't know 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 study as much as we can and apply what we learn in our marketing hard works. If you educate yourself consistently, you will understand more than 95% of your rivalry. Many people are either besieged or too lazy (sorry) to apply themselves.
Then, it is the sponsor's work to relay this information onto their members. I have been engaged 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 must educate, mentor, and stimulate your downline. Sometimes this can be hard because they are not receptive but you still have to do it. This will come back to you ten-fold since your message will vibrate with some.
Basically, 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 negative view, there is no way to be successful. Without looking out and following a verified system there is no way to be flourishing. For those who are giving real effort, and constantly educating themselves, I assure you that there is light at the end of the tunnel. Do not give up since this is a great business with heaps of room for everybody who wishes to succeed. And create the lifestyle that they've forever dreamed of.
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