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Why Is The Failure Percentage In The Network Marketing Industry So High?
I got to thinking regarding this yesterday and thought I'd write a quick post concerning my view of why I think the network marketing failure rate is so high...Why Do People Relinquish?
In my humble opinion, network marketing provides tremendous opportunity for wealth creation for the normal person. The admission fee to begin your online business is cheap and the upside is excellent. The minimum entry fee is why many people who do not have the entrepreneurial drive get included. They are suckered 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 know...that's a word no one likes to hear! To give you an example, I received an email from one of my downline members lately 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 as she hadn't received any sign-ups in her 1 day of marketing! She was feeling that the program may be a scam! This, unfortunately, is the outlook of the majority of "network marketers" and contributes very much to the 97% failure percentage and high erosion rates that we all the time hear about. This failure rate is the same with people commencing off-line businesses too.
Many human 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 by chance more. I have no way of proving this but the failure rate of people who actually apply themselves and have a success-oriented outlook is much lesser than 97%. Possibly lower than 50%.
One more contributing cause is "The grass is always greener on the other side". This statement is rarely right. I've learned this hard-way throughout the years in my offline business life. The solution is to get a business opportunity, or some, that you consider and that are legitimate, and work those programs. If you don't know how to market, study. 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 lively and we all must study as much as we can and apply what we study in our marketing hard works. If you educate yourself consistently, 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 work to relay this information onto their members. I have been engrossed 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 have to educate, guide, and stimulate your downline. Sometimes this can be tough as they are not receptive but you still need to do it. This will come back to you ten-fold as your message will reverberate with some.
Basically, it is my view 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 outlook, there is no way to be thriving. Without looking out and following a confirmed system there is no way to be thriving. For those who are giving true effort, and constantly educating themselves, I assure you that there is light at the end of the tunnel. Do not give up as this is an excellent business with plenty of room for everybody who wishes to succeed. And make the lifestyle that they've forever dreamed of.
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