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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 regarding 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 wonderful chance for wealth creation for the average person. The admission fee to start your online business is cheap and the upside is excellent. The minimum entry fee is why a lot of 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 know...that's a word no one likes 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 really going to work since she hadn't gotten any sign-ups in her 1 day of marketing! She was feeling that the program may be a trick! This, regrettably, is the mindset of nearly all of "network marketers" and contributes highly to the 97% failure rate and high erosion rates that we all the time hear regarding. This failure rate is equivalent with people starting off-line businesses too.
Most individual 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 by chance more. I have no method of verifying this but the failure rate of people who really apply themselves and have a thrive-oriented mindset is much lower than 97%. Possibly lower than 50%.
One more contributing cause is "The grass is all the time greener on the other side". This statement is hardly ever factual. I've studied this hard-way throughout the years in my offline business life. The key is to find a business opportunity, or some, that you consider and that are rightful, 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 can and apply what we study in our marketing hard works. If you instruct yourself always, you will understand over 95% of your competition. Many people are either overwhelmed or too lethargic (sorry) to apply themselves.
Then, it is the sponsor's work to send this detail onto their members. I have been engaged in some business opportunities where I never hear from my sponsor. These people will never be successful. No matter what your experience level, you have to educate, guide, and stimulate your downline. At times this might be hard 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.
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 start with. With a pessimistic view, 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 giving true effort, and constantly educating themselves, I reassure you that there is light at the end of the tunnel. Do not quit since this is an excellent business with plenty of room for everyone who wants to succeed. And make the lifestyle that they've forever dreamed of.
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