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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 gives tremendous chance 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 capitalist 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 thrive online, it takes efforts. I know...that's a word no one wish to hear! To give you an example, I got 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 really going to work since she hadn't received any sign-ups in her 1 day of marketing! She was feeling that the program could be a scam! This, unluckily, is the outlook of the majority of "network marketers" and contributes highly to the 97% failure percentage and high erosion rates that we all the time hear about. This failure rate is equivalent with people commencing off-line businesses too.
Most individual 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 verifying this but the failure rate of people who actually apply themselves and have a success-oriented mindset is much lesser than 97%. Possibly lower than 50%.
One more contributing reason is "The grass is always greener on the other side". This statement is hardly ever 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 recognize 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 dynamic and we all have to study as much as we can and apply what we study in our marketing hard works. If you educate yourself constantly, you will comprehend over 95% of your competition. Many people are either besieged or too lethargic (sorry) to apply themselves.
Then, it is the sponsor's work to relay this detail onto their members. I have been engrossed in a few business opportunities where I never hear from my sponsor. These people will never be successful. Regardless of what your experience level, you have to educate, guide, and stimulate your downline. Sometimes this could be tough 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 increased by the people who shouldn't be in the business to begin with. With a pessimistic outlook, 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 assure you that there is light at the end of the tunnel. Do not quit 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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