What Is Affecting The Network Marketing Industry ?
I got to thinking regarding this yesterday and thought I'd write a quick post regarding my view of why I feel the network marketing failure rate is so high...Why Do People Quit?
In my humble opinion, network marketing offers tremendous chance for wealth creation for the average person. The admission fee to begin your online business is cheap and the advantage is great. The low entry fee is why many people who do not have the capitalist 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 thrive online, it takes work. I understand...that's a word nobody wants 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 doubting 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 thinking that the program might be a scam! This, regrettably, is the mindset of nearly all of "network marketers" and contributes highly to the 97% failure rate and more attrition rates that we always hear about. This failure rate is equivalent with people starting off-line businesses too.
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 arbitrarily high. I have no way of verifying this but the failure rate of people who actually apply themselves and have a thrive-oriented mindset is much lesser than 97%. Possibly less than 50%.
Another contributing factor is "The grass is always greener on the other side". This statement is hardly ever true. I've studied this hard-way throughout the years in my offline business life. The solution is to find a business chance, or a few, that you believe in and that are legitimate, and work those programs. If you don't understand 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 have to learn as much as we could and apply what we learn in our marketing efforts. If you educate yourself always, you will know over 95% of your competition. Many people are either overwhelmed or very lazy (sorry) to apply themselves.
Then, it is the sponsor's job to relay this detail onto their members. I have been involved in some business opportunities where I never hear from my sponsor. These people will never be successful. Regardless of what your experience level, you have to teach, mentor, and motivate your downline. Sometimes this might be difficult as they are not receptive but you still need to do it. This will come back to you ten-fold since your message will reverberate with some.
Mostly, it is my opinion that the failure rate in network marketing is inflated by the people who shouldn't be in the business to begin with. With a pessimistic mindset, there is no way to be thriving. Without seeking out and following a verified system there is no way to be thriving. For those who are providing 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 an excellent business with plenty of room for everybody who wants to thrive. And create the lifestyle that they've always dreamed of.
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