Today, I want to share the truth about people failing in network marketing, as I see it. First and foremost, please know that there is a HUGE difference between failing and quitting. Most people are naturally quitters. Most people quit everything they do. People quit marriages, diets, savings plans, exercise plans, and just about anything else you can imagine. Few people have the discipline to follow through with their goals once the initial enthusiasm fades.
It’s also important to know that most people who start out to accomplish anything worthwhile, DO NOT reach their goal. Most people who start a blog never make a dime of profit. Most insurance agents never sell one policy. Most realtors never sell one home. Most businesses fail. Most people who go to college never graduate. Most marriages fail. Most people who try to become professional, paid athletes fail. I could go on an on, but my main point is that FAILURE is very common in life. Few people ever accomplish LASTING or MAJOR success. It takes a special person to succeed at anything in life.
When it comes to the topic of MLM Failure, there are three groups of folks (as I see it). The first group is the quitters. This is the group of people who join the industry with a lottery mentality and quit within 30-90 days. These are the folks who sign up, and then sit back and wait for the money to flow in. These folks have never owned a business before and have NO CLUE about how to build any type of business. Furthermore, these people do not put in ANY type of effort on a consistent basis. In most cases, they don’t even order their own products. They never sponsor one person. They never get one customer. They never do anything, EXCEPT QUIT. And then they have the courage to say they were scammed or ripped off. To these folks I say, GET REAL! Of all the people who supposedly FAIL in MLM, I’d bet that 75% of them fall into this category.
The second group of folks who fail in MLM is the people who try to build their network marketing business (typically for six to eighteen months) and don’t achieve very good results. They work their business off and on for one to two years, but nothing really consistent. They might sponsor a few people. They might get a couple of customers. But they never take the time to develop the right skill-set and right mind-set to succeed in MLM. They work their business when it is convenient for them, but they don’t work it week in and week out. Some of these folks earn a few hundred dollars per month, but most of them eventually fizzle out and move on to something else. Of all the people who supposedly fail in MLM, I’d bet that 20% of them fall into this category.
The third group of people is the people who do EVERYTHING their sponsor tells them, but they still can’t get things to work. They work hard, focus on the right activities but still can’t achieve success in MLM. They attend all the calls, go to meetings, schedule one one one appointments with prospects, etc. They work hard, but they simply can’t get the results they want. This group probably makes up 5% of all people who fail in MLM.
When it comes to MLM Failure it’s often said that 97% of the people in our industry fail. My response is “what do you mean by fail?” If you mean that 97% of the people in MLM do not earn a full-time, six figure income, you are absolutely right. But that’s true in ANY profession in life. Less than 3% of all Americans earn that type of income.
I honestly don’t think that 97% of the people in MLM fail. I think that 100% of the people who “fail” in MLM simply QUIT MLM. And there is a big difference between failing and quitting. I’ve never personally known anyone who got started, worked their business consistently for a period of a few years, and did not earn at least a few thousand dollars per month with their MLM Business. Of course, not all of these folks became top earners, but they still did well.
In addition, just about every six and seven figure income earner I know of struggled with their network marketing business for two to five YEARS before they figured things out and achieved success. They knew they had to pay their dues, learn the right skill-set and right mind-set, and work their business consistently BEFORE they could reap the rewards.
Of every business I’ve ever personally owned, my businesses took me a year or two, just to get profitable and several years to do well. Network marketing is no different. Businesses take time to build, especially if you don’t have any entrepreneurial experience.
Before you go out and bash our industry and say that everyone fails, please educate yourself first. Learn the difference between failing and quitting. And make sure you compare apples to apples.
What are your thoughts? What do you think about the the truth about people failing in network marketing? Leave a comment and let us know.