What's with the high failure rate in network marketing? Many people join the network marketing industry because they want time and money freedom. The sad part is that statistically many people quit at around the 3 month mark and never make it to the other side of the dip where they start making money.
These people will have spent a chuck of cash to get into the business opportunity and most likely have also spent money on products that are destined to sit in the garage collecting dust...don't let this happen to you.
So Why Do So Many People Quit Network Marketing?
The reason people quit their MLM is because they are not making any money. In fact, the vast majority of people are losing money by being part of a MLM business opportunity!
It takes time to make any real money in MLM, it's definitely not a get rich quick scheme. Every now and then you hear stories of someone that got rich after sponsoring a superstar but it rarely happens in the real world.
Always wanting to get that network marketing super star on your team will be harmful to your long term success. If it happens it great but having a slow and steady approach to business will bring better results.
The #1 Reason People Fail In MLM
The number 1 reason people fail in MLM is because of a limited budget; they just don't have to capital to market their business aggressively enough. Depending on the network marketing company, the person may be paying quite a bit for auto-ship. It's not uncommon for people to have little or nothing left after meeting this requirement.
People's confidence starts to waiver when the debt starts to pile up and no real visible signs of success are showing; this is when they are most likely to quit -- they get out while they still haven't lost a small fortune.
In business, the phase between start up and reaching a level of success where profits are realized is called the dip. Every business has a dip but the length of the dip varies, it could be months or could be years. Top CEO's go through an average dip of about 25 years before they get to that position, sometimes it pays to stick around to reap the rewards of your hard work.
How To Get Through The MLM Dip
If people are failing in network marketing due to a lack of marketing budget, what can they do about it? Many network marketers that are building their business on the internet are getting through this dip by making a profit while they attract targeted leads to their business. The easiest way to do this is to sell an inexpensive information product related to your home business or your product.
This has two big benefits;
1. You get instant cash flow into your business which funds your future marketing efforts.
2. The people that buy your report are more qualified than people you approach about your business. These are people who have qualified themselves by investing money into learning about your business or product.
Creating Your Offer
A report can be very simple, you can even combine a number of articles you have already written and turn that into your report. It doesn't need to be a cannon of network marketing, a report with 20 or more page will do just fine.
If you haven't written any articles before and you don't feel confident to write a report, you can always outsource it. For a very reasonable price you will be able to get a very good report written, they will even do the research for you.
Another option is to sell someone else's report and get a commission on the sale. There are quite a number of programs on the Internet that allow you to do this and at the same time you get the purchaser's information so that they become your lead.
2 For The Price Of One
The major reason for failure in network marketing is lack of money to continue in the business and the other main reason is because people don't have enough qualified leads to speak to about their business. This simple strategy of creating an inexpensive information product solves both of these problems in one fowl swoop.
Many of the top MLMer's are building their businesses using these exact methods.
It is such a shame that as high as 97% of MLMer's never get through the dip and reach that goal of having the freedom to work from home and it doesn't have to be that way. If you would like to find out more about getting through the MLM dip and avoiding failure in your network marketing business, I might have just the story for you...
These people will have spent a chuck of cash to get into the business opportunity and most likely have also spent money on products that are destined to sit in the garage collecting dust...don't let this happen to you.
So Why Do So Many People Quit Network Marketing?
The reason people quit their MLM is because they are not making any money. In fact, the vast majority of people are losing money by being part of a MLM business opportunity!
It takes time to make any real money in MLM, it's definitely not a get rich quick scheme. Every now and then you hear stories of someone that got rich after sponsoring a superstar but it rarely happens in the real world.
Always wanting to get that network marketing super star on your team will be harmful to your long term success. If it happens it great but having a slow and steady approach to business will bring better results.
The #1 Reason People Fail In MLM
The number 1 reason people fail in MLM is because of a limited budget; they just don't have to capital to market their business aggressively enough. Depending on the network marketing company, the person may be paying quite a bit for auto-ship. It's not uncommon for people to have little or nothing left after meeting this requirement.
People's confidence starts to waiver when the debt starts to pile up and no real visible signs of success are showing; this is when they are most likely to quit -- they get out while they still haven't lost a small fortune.
In business, the phase between start up and reaching a level of success where profits are realized is called the dip. Every business has a dip but the length of the dip varies, it could be months or could be years. Top CEO's go through an average dip of about 25 years before they get to that position, sometimes it pays to stick around to reap the rewards of your hard work.
How To Get Through The MLM Dip
If people are failing in network marketing due to a lack of marketing budget, what can they do about it? Many network marketers that are building their business on the internet are getting through this dip by making a profit while they attract targeted leads to their business. The easiest way to do this is to sell an inexpensive information product related to your home business or your product.
This has two big benefits;
1. You get instant cash flow into your business which funds your future marketing efforts.
2. The people that buy your report are more qualified than people you approach about your business. These are people who have qualified themselves by investing money into learning about your business or product.
Creating Your Offer
A report can be very simple, you can even combine a number of articles you have already written and turn that into your report. It doesn't need to be a cannon of network marketing, a report with 20 or more page will do just fine.
If you haven't written any articles before and you don't feel confident to write a report, you can always outsource it. For a very reasonable price you will be able to get a very good report written, they will even do the research for you.
Another option is to sell someone else's report and get a commission on the sale. There are quite a number of programs on the Internet that allow you to do this and at the same time you get the purchaser's information so that they become your lead.
2 For The Price Of One
The major reason for failure in network marketing is lack of money to continue in the business and the other main reason is because people don't have enough qualified leads to speak to about their business. This simple strategy of creating an inexpensive information product solves both of these problems in one fowl swoop.
Many of the top MLMer's are building their businesses using these exact methods.
It is such a shame that as high as 97% of MLMer's never get through the dip and reach that goal of having the freedom to work from home and it doesn't have to be that way. If you would like to find out more about getting through the MLM dip and avoiding failure in your network marketing business, I might have just the story for you...
About the Author:
Steve Anderson has been helping struggling network marketers find their way through the MLM dip by teaching them how to apply attraction marketing to their business. Steve credits much of his success to his mentor, Ann Sieg and her Renegade Network Marketer System.
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