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Why Is The Failure Percentage In The Network Marketing Industry So High?
I got to thinking relating to 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 Give Up?
In my humble opinion, network marketing provides tremendous opportunity for wealth creation for the average person. The entrance charge to begin your online business is cheap and the benefit is great. The minimum entry fee is why a lot of 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 thrive online, it takes work. I realize...that's a word no one wish to hear! To give you an instance, 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 as she hadn't received any registrations in her 1 day of marketing! She was feeling that the program may be a scam! This, regrettably, is the outlook of nearly all of "network marketers" and contributes highly to the 97% failure percentage and more attrition rates that we all the time hear about. This failure rate is the same with people starting off-line businesses too.
Many human are only not outline 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 method of proving this but the failure rate of people who really apply themselves and have a thrive-oriented mindset is much lesser than 97%. Probably lower than 50%.
Another contributing reason is "The grass is always greener on the other side". This statement is hardly ever true. I've studied this hard-way all through the years in my offline business life. The key is to get a business chance, or a few, that you consider and that are legitimate, 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 learn as much as we can and apply what we study in our marketing efforts. If you educate yourself consistently, you will understand above 95% of your rivalry. Many people are either overwhelmed or too lethargic (sorry) to apply themselves.
Then, it is the sponsor's work to relay this information onto their members. I have been engaged in some business opportunities where I never hear from my sponsor. These people will never be thriving. Regardless of what your experience level, you have to educate, mentor, and motivate your downline. Sometimes this could be tough 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.
Mostly, it is my opinion 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 view, there is no way to be thriving. Without looking out and following a proven system there is no way to be flourishing. For those who are providing 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 plenty of room for everyone who wishes to accomplish something. And make the lifestyle that they've forever dreamed of.