I got to thinking relating to this yesterday and thought I'd write a quick post concerning my opinion 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 average person. The entry fee to start your online business is economical and the benefit is superb. The low 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 succeed online, it takes efforts. I understand...that's a word nobody wants to hear! To give you an illustration, I received an email from one of my downline members lately who had received an email from his downline member. His downline member was doubting if the program she had joined was truly going to work as 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 always hear regarding. This failure rate is equivalent with people commencing off-line businesses too.
Several people 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 method of verifying this but the failure rate of people who really apply themselves and have a success-oriented view is much lesser than 97%. Possibly lower than 50%.
One more contributing cause is "The grass is forever 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 solution is to find 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 could and apply what we study in our marketing hard works. If you teach yourself consistently, you will understand above 95% of your competition. Several people are either besieged or too lethargic (sorry) to apply themselves.
Then, it is the sponsor's work to send 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 teach, mentor, and motivate your downline. At times this might be difficult since they are not receptive but you still have 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 failure rate in network marketing is inflated by the people who shouldn't be in the business to begin with. With a pessimistic outlook, there is no way to be flourishing. Without seeking out and following a verified system there is no way to be successful. For those who are giving true effort, and consistently educating themselves, I reassure you that there is light at the end of the tunnel. Do not give up because this is a great business with heaps of room for everybody who wants to thrive. And create the lifestyle that they've forever dreamed of.
