MLM Business failure - What Goes Wrong? How Can You Succeed?
by Samson Itoje
Thousands of mlm distributors quit network marketing business after trying out the business for two to six months.
They come in with so much enthusiasm. They have great dreams of making big money from the company they chose to partner with. And they even have great plans of how to spend the millions they intend to earn from the business.
Unfortunately, 2 to 6 months down the road they quit the mlm company they were so excited about.
Some quit the mlm company they initially joined and join another company while some quit network marketing altogether.
“This business is not for me!” They scream. “It is too difficult!” Others add.
Thousands of people have lost money with mlm business opportunities.
Business failure means that their business related expenses is greater than the earnings from the business.
Here’s something you need to understand when you think of whether to start a network marketing independent business or a traditional business: The scenario of people gaining and losing is not peculiar to mlm business.
Thousands of people fail with network marketing business the same way thousands of people fail with traditional business.
Business failure is not peculiar to network marketing business!
For example, a family friend launched a business centre business about a decade ago. Services offered by the business centre included photocopying, printing, binding and printing design services. She told me she started the business with =N=500,000 (about $3,000 USD).
She shut down the business after about three years of operation.
Why do you think she closed down after just 3 years of operation?
Simple. She did not generate the kind of income she expected from the business. And with expenses climbing, she was compelled to close shop.
Consider another business example.
A colleague told me of a woman, an acquaintance, who borrowed money to start eatery / fast food business.
She rented a befitting location, equipped it, employed different category of staff she needed to run the business, designed a befitting menu list and launched the business with fan-fare.
Customers patronized the fast food / eatery. People were coming and going. Customers were buying the tantalizing menu and even buying take-aways. Business was good or so it seemed to on-lookers.
She closed the business in less than 5 years of launch.
I can go on and on about different kinds of business that started well and with so much fan-fare but that closed shop within 5 years.
What does all of this tell you?
It is obvious.
Not everyone will succeed with business.
In fact, most small business people who open a shop to start the business of their dreams will close shop within 5 years of starting.
This is NOT a curse. This is not unwarranted pessimism. This is the reality of the world we live in.
Your Chances of Success With Network Marketing Versus Your Chances of Failure
In summary . . . if you join a network marketing business opportunity today, there is 80-20 chance that you will fail or succeed.
Why is the failure rate so high?
Simple reason . . . 1) Most people have absolutely no idea how to make a business success
2) Most people have never sold anything all their life and don’t know how to sell and
3) Most people will do very little to promote their mlm business.
You see, virtually everyone want to make more money but FEW actually do what it takes to make their dream come true.
Therefore, most people make plenty of money in their dreams but stay poor in real life.
Should you still join an mlm company in view of the failure rate?
Well, that is a personal decision.
Nevertheless, before you decide that mlm business is not for you because of the failure rate, ask yourself, “will I apply for a driver’s license and actually drive a car in view of the number of road accidents last year?”
Again ask yourself: “The divorce rate in America is about 1 in 4. Should I still get married in view of the divorce rate? ” And “should I travel by air in view of the fact that there is a possibility of a plane crashing before getting to its destination?” And “should anyone join the Nigerian army in view of the fact that army personnel risk getting shot and losing their lives. And, hence, not live to enjoy their retirement benefit?”
The fact that majority of people fail with network marketing business doesn’t mean that you will fail.
Remember that thousands of people succeed with network marketing. And the profit potential can be jaw-dropping if you do it right.
Yes, you stand a chance to make a lot of money if you train yourself to become a good networker!
Are you willing to do what it takes?Click HERE to join the top mlm company.