Can everyone and anyone succeed in MLM? This is something one of my own team members asked me the other day and I thought it was a wonderful question.
My immediate answer to the question is that anyone CAN, but most people won’t. But, I should also chime in and tell you that it depends on what your definition of success is (more on that in a minute). What I want to do in the rest of this article is talk about why I think how I think about this issue and what you should know about it.
First and foremost, starting a business of any kind in risky. It’s not for the feint at heart. Entrepreneurs are a different breed than employees. You have to be mentally tough and have “brass balls” (excuse my French) to make it in your own business. Most people DO NOT have what it takes mentally to be a successful entrepreneur.
Growing a successful business is even harder.
You could easily argue that the odds are stacked against every small business owner in America. Some sources say that 90% or more of all businesses fail within the first five years. I’m not sure how accurate that number is, but when I drive through the town where I live, I think the numbers are pretty close.
Whatever the statistic is, most small businesses in every industry FAIL. The only exception might be franchising. And most traditional businesses have tens of thousands or hundreds of thousands of dollars invested in their business, just to get started. Many of these folks lose their life savings and several years of their life trying to build a successful business.
I’ll say it again to get my point across. It takes a special person to build a successful business of any kind. They must have determination, mental toughness, a good work ethic, and good skills.
When it comes to network marketing, here are my thoughts:
First off, not everyone who joins our industry does so to make money. Many people join for the social aspect, to meet new friends, or simply to get a discount on the products. To call these people a failure because they didn’t make a lot (or any) money is misleading.
Of the people who join the industry to make money, here are my thoughts:
Anyone can earn enough to get their products for free or make a couple hundred dollars per month. That doesn’t require any special skills, talents or major commitment.
Anyone who is willing to commit one to two hours per day CONSISTENTLY every day, for a couple a years, should be able to make $500 to $2,000 per month with their business. I can’t guarantee that, but I think it’s ultra realistic.
I know this sounds crazy, but a huge majority (at least 90%) of the people in our industry do very little, if anything on a consistent basis to grow their network marketing business. It’s probably closer to 95%. If you’ve never put in the work for at least two years, you are not a failure, you never even got started! And there is a big difference between these two things.
It does take someone with special skills, determination and the right mindset to make it to the top 1-3% and earn a substantial income with their network marketing company. It’s called the top 1%-3% for a reason. You will quickly discover that the top 1%-3% in ANY profession do things differently than the other 97-99%. The same holds true in network marketing.
You will quickly discover that most people in ANY “commission only” based pay structure, in any industry, don’t make a lot of money. The top 5-10 percent earn the lion’s share and everyone else earns little to nothing.
In addition, the turnover in the insurance sales, realtors, door-to-door sales, and other “selling” industries is extremely HIGH. When it comes to merit based pay, most people do not have what it takes to succeed. That’s why so many folks like job security, good benefits and a steady paycheck. Not that there is anything wrong with that, but that way of thinking won’t help you grow a successful business.
What I love most about our industry is that anyone CAN make the decision to become a top earner and then put in the work to make it happen. It won’t happen overnight. But anyone can do it IF they stick with it and do the work for five or ten years (at least).
Yes, everyone says they want the big bucks, but very, very few people will pay the price, work through the numbers and stay the course. I think it’s human nature to give up when things get tough and don’t go exactly as planned.
Another great thing about our industry is that you don’t have to have these skills when you first get involved. You can learn the required skill-set and mind-set as you go through your success journey. I can’t speak for you, but I have become a completely different person over the past 13 years in this industry.
The real question you should ask yourself is “can I succeed in network marketing?” If you think you can, you’re right. If you think you can’t you’re right. The second question you need to ask yourself is “will I do what it takes to make it to the top?” Only you can answer that question. I think your answer to these two questions will ultimately determine how well you do in our industry.
At the end of the day, most people will not make the decision or pay the price. I wish more people would, but things don’t work that way.
There you have it folks. These are my thoughts on whether or not everyone can be successful in network marketing. I would love to know what you think about it. Leave a comment below to share your thoughts. Have a great day!