Why People Fail in Network Marketing!
What’s that saying? You know, you hear it all the time! 97% of the people FAIL in Network Marketing.
As I was surfing around the internet the other day I came across this Tim Sales video which was the inspiration for this blog post. He lays out several key thoughts as to why people fail in network marketing.
Sure, statistically if you were to look at how many people make money vs how many don’t in Network Marketing, then yes, more people FAIL in network marketing. But why?
The world acts as if this is some big revelation (but I don’t get it). If you think about it for a moment, the same can be said for almost everything attempted.
Most people that open an account to trade stocks, FAIL.
Most people who get into sports FAIL, they never make it to the NFL, MLB, or the NBA.
Most people who get into Real Estate, FAIL before ever selling their first home.
Most people who want to make it big in a rock band, or the opera for that matter, FAIL.
Most people who want to get into shape, FAIL!
Most people who start a business, FAIL!
So yes, it’s true, most (97%) of the people who get into Network Marketing, FAIL!
OR DO THEY?
Here is my take on why people fail in network marketing.
Maybe we should look at what the people did TO Fail vs what those did TO Succeed.
Upon closer examination, those that DO FAIL in Network Marketing, don’t really FAIL at all, they QUIT! They never really give it a chance. Somewhere down the road, somebody told them they could get rich quick, for doing very little.
Network Marketing has the reputation that millionaires are created almost daily by just signing up a few people. (Isn’t that all you have to do?)
One problem and why so many people fail in network marketing is because they treat their business as a hobby, not a business. How many successful bankers, lawyers, doctors, sports figures do you know treat their profession as a hobby? ZERO would be my guess!
So its not that most people FAIL in Network Marketing, they just quit! Just like people QUIT trying to get in shape, or they loose their %@#* in the stock market and QUIT. People QUIT golf all the time, but they didn’t fail at these things, they QUIT. They didn’t take the time necessary to learn the skill sets need to succeed.
That’s why people fail in network marketing.
Getting started in Network Marketing is no different than any other business. If you are going to have success in Network Marketing or anything else in life, then you need to commit time, energy and a little money. There are plenty of free strategies out there that can help build your business, it just takes time…
How much time? I would give yourself 24 to 36 months to become really successful. Sure some may do it in 10 or 12 months, heck, some people can do it in 3. Look, you’re not going to go out and buy a McDonald’s franchise, learn the entire food business and start turning a profit in 3 to 6 months, it just won’t happen. I don’t care how good your location is. The startup costs are too high.
Owning a MLM business isn’t for everyone, some people are just meant to punch a clock. There’s nothing wrong with that. But if you’re going to start a home based business then you better go into it with the mindset that this is going to take work and time. If you want to be a six or seven figure earner, then you will have to work like one! Otherwise, you will become just another victim of why people fail in network marketing.
Yes, residual income and leveraging the efforts of others to build your business is what Network Marketing is all about. But it won’t build on it’s own.
If you’re looking to build your MLM business and are serious about learning how to generate leads, then what you really need to learn is, how to Market. If your upline is still teaching only the Old “School Methods, find out how to generate leads using the internet. It’s not that difficult, IF you know what you’re doing. I’m not saying there is anything wrong with the Old School Methods, you just need to learn to incorporate online marketing into your strategy if you want to make money in network marketing.
So find out how NOT to FAIL, especially in the first year in Network Marketing. You can be one of the 3% who succeed, just by not quitting.
After all, the name of the game is right there in the title… Network MARKETING. All too often, 97% of those who do “fail”, (quit) just don’t have a clue where to turn once they run through their warm market. So if you’re struggling and don’t want to fail in your network marketing business, do what all the successful Network Marketers do… Learn how to market!
It’s not that hard when you have someone and a system to show you step by step how to be successful in Network Marketing. Marketing is the key to success and it CAN be yours. If you are looking for help and would like some guidance, leave me a comment below, I would be happy to share some ideas with you.
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Please add to the discussion below and share some of the reasons you have your run across as to “Why People Fail In Network Marketing”?