I got to thinking about this yesterday and thought I'd write a quick post regarding my opinion of why I feel the network marketing failure rate is so high...Why Do People Relinquish?
In my humble opinion, network marketing gives wonderful opportunity for wealth creation for the average person. The entry fee to start your online business is inexpensive and the advantage is excellent. The low entry fee is why a lot of people who do not have the entrepreneurial drive get involved. They are suckered in by claims by companies of making gobs of money while the marketer is either sleeping or on the beach.
To thrive online, it takes work. I understand...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 really going to work since she hadn't gotten any registrations in her 1 day of marketing! She was feeling that the program could be a trick! This, unfortunately, is the mindset of the majority of "network marketers" and contributes highly to the 97% failure rate and more erosion rates that we always hear regarding. This failure rate is the same with people starting off-line businesses as well.
Most individual are just not outline 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 method of proving this but the failure rate of people who actually apply themselves and have a success-oriented mindset is much lower than 97%. Probably less than 50%.
One more contributing reason is "The grass is all the time greener on the other side". This statement is rarely true. I've learned this hard-way throughout the years in my offline business life. The key is to find a business chance, or some, that you believe in and that are rightful, 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 dynamic and we all have to learn as much as we could and apply what we study in our marketing efforts. If you instruct yourself consistently, you will know more than 95% of your competition. Many people are either overwhelmed or very lethargic (sorry) to apply themselves.
Then, it is the sponsor's job to send 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 successful. No matter what your experience level, you need to teach, guide, and motivate your downline. At times this can be difficult because they are not receptive but you still need to do it. This will come back to you ten-fold since your message will resonate with some.
Mostly, it is my view that the failure rate in network marketing is increased by the people who shouldn't be in the business to start with. With a negative mindset, there is no way to be successful. Without seeking 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 reassure 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 wants to thrive. And make the lifestyle that they've always dreamed of.
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