Different Causes For The High Failure Percentage In The Network Marketing Industry
I got to thinking about this yesterday and thought I'd write a quick post concerning my belief of why I think the network marketing failure rate is so high...Why Do People Quit?
In my humble opinion, network marketing offers tremendous opportunity for wealth creation for the average person. The entrance charge to start your online business is economical and the upside is great. The low entry fee is why numerous 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 succeed online, it takes work. I understand...that's a word nobody wish to hear! To give you an instance, I got an email from one of my downline members recently who had received an email from his downline member. His downline member was doubting if the program she had joined was actually going to work as she hadn't gotten any sign-ups in her 1 day of marketing! She was thinking that the program could be a scam! This, unfortunately, is the outlook of the majority of "network marketers" and adds highly to the 97% failure percentage and more erosion rates that we all the time hear regarding. This failure rate is the same with people commencing off-line businesses also.
Most human 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 randomly more. I have no way of verifying this but the failure rate of people who really apply themselves and have a success-oriented outlook is much lesser than 97%. Possibly lower than 50%.
One more contributing reason is "The grass is forever 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 key is to get 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 whole 20 plus year career. Online network marketing is active and we all need to study as much as we can and apply what we study in our marketing hard works. If you educate yourself always, you will comprehend over 95% of your competition. Several people are either besieged or too lethargic (sorry) to apply themselves.
Then, it is the sponsor's job to send this detail onto their members. I have been engrossed in some business opportunities where I never hear from my sponsor. These people will never be thriving. No matter what your experience level, you must educate, mentor, and motivate your downline. Sometimes this could be tough as they are not receptive but you still have to do it. This will come back to you ten-fold because your message will vibrate with some.
Basically, it is my opinion that the failure rate in network marketing is increased by the people who shouldn't be in the business to start with. With a pessimistic 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 giving real 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 plenty of room for everyone who wants to accomplish something. And create the lifestyle that they've always dreamed of.