Why Is The Network Marketing Failure Rate So High?
I got to thinking about this yesterday and thought I’d write a quick post about my opinion of why the network marketing failure rate is so high and causes so many people to quit. To learn what I think about how most people choose the wrong business opportunities to join, which hurts their chances of success…More About The Network Marketing Failure Rate.
In my humble opinion, network marketing offers tremendous opportunity for wealth creation for the average person. The entry fee to start your online business is inexpensive and the upside is great. The low entry fee is why many people who do not have the entrepreneurial drive get involved. They are suckered in by claims by companies of making gobs of money while the marketer is either sleeping or on the beach.
To succeed online, it takes work. To most people, this is a 4-letter word George Carlin should have included in his skit from years ago (those of you my age will know what I’m talking about)! To give you an example, I received 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 thinking that the program might be a scam! This, unfortunately, is the mindset of the majority of “network marketers” and contributes greatly to the 97% failure rate and high attrition rates that we always hear about. This failure rate is the same with people starting off-line businesses as well.
Most people 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 arbitrarily high. I have no way of proving this but the failure rate of people who actually apply themselves and have a success-oriented mindset is much lower than 97%. Probably lower than 50%.
Another contributing factor is “The grass is always greener on the other side”. This statement is rarely true. I’ve learned this the hard-way throughout the years in my offline business life. The key is to find a business opportunity, or a few, that you believe in and that are legitimate, and work those programs. If you don’t know how to market, learn. That’s what I’m doing with MyLeadSystemPro. I have been in sales and marketing for my entire 20 plus year career and had done some internet marketing but nothing like this. Online network marketing is dynamic and we all need to learn as much as we can and apply what we learn in our marketing efforts, even if it’s not perfect. This applies to any business: If you educate yourself consistently, you will know more than 95% of your competition. Most people are either overwhelmed or too lazy (sorry) to apply themselves.
Then, it is the sponsor’s job to relay this information onto their members. I have been involved in a few business opportunities where I never hear from my sponsor. Even when I reached out to them! I don’t think they’d answer the door if I showed up at their house and knocked! These people will never be successful. No matter what your experience level, you need to educate, mentor, and motivate your downline. Sometimes this can be difficult because they are not receptive but you still need to do it. This will come back to you ten-fold because your message will resonate with some.
Basically, it is my opinion that the network marketing failure rate is inflated by the people who shouldn’t be in the business to begin with. With a negative mindset, there is no way to be successful. Without seeking out and following a proven system, it will take a long time to realize some success and it might be too long. 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 give up because this is a great business with plenty of room for everyone who wants to…to succeed. And create the lifestyle that they’ve always dreamed of.
If you are sick of struggling and do not not want to be one of the “failure” statistics I just wrote about…CLICK HERE For Your Network Marketing Success Blueprint
Here is some more info. you might find of interest:
Fun Activities That Teach Kids About Money And Personal Finance
How Can I Make Money?!?!? – Yahoo! Answers
Think twice before becoming a landlord – MSN Real Estate
Macklemore & Ryan Lewis – Make the Money (Official) – YouTube
How to Make Money with Squidoo – Building Lenses for Profit!