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Why Is The Failure Rate In The Network Marketing Industry So High?
I got to thinking regarding this yesterday and thought I'd write a quick post concerning my opinion of why I think the network marketing failure rate is so high...Why Do People Quit?
In my humble opinion, network marketing offers wonderful opportunity for wealth creation for the average person. The admission fee to start your online business is inexpensive and the benefit is great. 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 gobs of money while the marketer is either sleeping or on the beach.
To achieve something online, it takes efforts. I realize...that's a word nobody 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 really going to work because she hadn't gotten any sign-ups in her 1 day of marketing! She was feeling that the program could be a scam! This, unfortunately, is the mindset of the majority of "network marketers" and contributes highly to the 97% failure percentage and high abrasion rates that we all the time hear about. This failure rate is the same with people starting off-line businesses too.
Most people 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 verifying this but the failure rate of people who really apply themselves and have a success-oriented mindset is much lesser than 97%. Possibly lower than 50%.
An additional contributing factor is "The grass is always greener on the other side". This statement is rarely true. I've learned this hard-way all through the years in my offline business life. The key is to find a business chance, or a few, that you consider and that are legal, 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 complete 20 plus year career. Online network marketing is dynamic and we all must study as much as we can and apply what we learn in our marketing hard works. If you educate yourself constantly, you will comprehend over 95% of your rivalry. Many people are either overwhelmed or very lazy (sorry) to apply themselves.
Then, it is the sponsor's work to send this detail onto their members. I have been engaged in a few business opportunities where I never hear from my sponsor. These people will never be flourishing. No matter what your experience level, you have to teach, guide, and motivate your downline. At times this can be hard because they are not receptive but you still need to do it. This will come back to you ten-fold as your message will resonate with some.
Mostly, 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 flourishing. Without hunting out and following a proven system there is no way to be flourishing. For those who are giving real effort, and constantly educating themselves, I reassure you that there is light at the end of the tunnel. Do not quit as this is a great business with plenty of room for everyone who wishes to succeed. And make the lifestyle that they've forever dreamed of.
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