Sticking with MLM for the long haul is vital, if you really want to succeed and make the big bucks. Nothing in life worth accomplishing is fast, free or easy. It takes a lasting commitment and a lot of hard work if you really want to succeed at something.
Here’s something Mark Yarnell said that really resonated with me. “Our analysis shows that an estimated 95 percent of those who survive ten years in network marketing become wealthy beyond their wildest expectations.”
From what Mark says, if you can survive the storm, and stick with with network marketing, you have good odds of making it and becoming successful. I agree. I would like to elaborate by stating that you also have to do the work. Just because you stick with something for a long time doesn’t mean you will succeed. It takes hard work AND a lasting commitment.
What’s funny about MLM is how FAST people give up and quit. We are the ONLY industry in the world (that I know of anyway) where someone will start a business and quit in less than 90 days!
You wouldn’t start a restaurant and expect to be profitable your first year, let alone your first 90 days. And you definitely wouldn’t start a restaurant and quit in 30 to 90 days. You would stick it out, learn from your mistakes and make adjustments along the way.
You wouldn’t become a realtor, insurance agent, motel owner, bar owner, blogger, eBay store owner, auctioneer, car dealer, or any other type of business owner, and expect to just start making tons of money right away with your new business, would you?
Yet, most people who get started in direct sales or MLM give up and quit within a month or two of joining. And then they say they were scammed. It makes me laugh. Actually, it pisses me off. It’s as if they expected to have all this money coming in right away, in hopes of getting rich quick.
It’s as if they think they can get started, not do any work, and start making money. Personally, I just don’t get it. This is not a LOTTERY!
I don’t know of ANY business model you can just start and expect to be profitable in your first year, let alone your first few months.
It takes time to build a successful business. In any business, you have to go through a learning curve, pay your dues, learn from your mistakes, make adjustments along the way, and build up your client/customer base. That doesn’t happen by accident and it doesn’t happen overnight.
My eBay business took me two years to get profitable and working smoothly.
My blogs and websites took me several years to get profitable and earning a nice income.
It took me almost six months just to sell my first eBook from the time I launched it.
Most businesses expect to be in the red for a few years, before they start making a profit an earn the initial investment back.
So, why would you expect to succeed right away in MLM?
The bottom line is that good things take time. What’s great about MLM is that you CAN be profitable from your first month (unlike most other businesses). And you can earn money as you LEARN what you are doing.
You need a game plan, you need to be persistent and you must stay the course if you want to succeed.
Trying something is not enough. You must sell out to the idea and stick with it to make it big.
Yes, anyone can earn a few hundred bucks a month in MLM with a little bit of effort, but the big money takes time.
Sticking around is nearly half the battle. The other half is doing the work.
Most of the successful distributors that I’ve studied took five to ten YEARS to become successful, if not longer. Rome wasn’t built in a day. It takes time to develop your skills and mindset so you can become successful.
What’s great about our industry is that you don’t have to give up your day job or take a financial risk to build your business. You can do it part-time while you keep your daily job!
I also like to remind people that the time is going to go by anyway. Five or ten years from now you will look back and wish you would have stuck with it!
What do you think about sticking with MLM for the long haul? Just leave a comment below to share your thoughts! I look forward to hearing from you.
This is part of a mini-series from Mark Yarnell quotes. Read the original post.
Chuck Holmes
20+ Year Network Marketing Professional
Top Earner & Top Recruiter
Email: mrchuckholmes@gmail.com
P.S. Learn how to grow a successful network marketing business. Secret tips, training, and practical ideas. Free training delivered by email.
I think one of the problems is the way that many people are marketed to Chuck. So many sponsors lead their advertisements with lines such as get rich quick, or make millions fast. These forms of advertising give people false expectations and this is why they quit. I won’t put all the blame on the prospect, because they were, in many cases, led to believe something that just wasn’t true. Hopefully both sides will awaken. Prospects need to know that MLM is just like any other business, just less costly to start.
All businesses take time to build! Rome wasn’t built in a day.
It is hilarious how people just assume that when they start in MLM that riches will just “fly” into their hands. Like any business, it takes time to build a reputation and a down-line. When you mentioned getting folks to buy your Ebook, it reminded me of my business of writing. No business is easy: there will be good times and bad, but endurance and perseverance are the keys to success. Yes, we have to have the long haul in mind.Great post Chuck.
All of my businesses took a few years to get going.