Why is the failure rate in MLM so high? People are attracted to this industry because they want time and money freedom but many never stick around long enough to realize that dream.
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?
This is a really easy question to answer -- because they are not making any money. The other reason is that they are probably losing money as welll!
The Network Marketing industry is not a get rich quick business; it takes time to start making any serious money. There are the lucky few who manage to sponsor an MLM superstar and this can make them a bucket load of money, but this is like the proverbial hens teeth...rare indeed.
In fact, banking on sponsoring an MLM superstar in the making is damaging for your long term chance of success in MLM. It's the slow and steady building of a business that will bring more reliable results.
The #1 Reason People Fail In MLM
Limited marketing budget is the number one reason people fail in network marketing. Often after paying autoship there is little or no money left over for marketing.
This situation eats away at peoples confidence to make the business work. With the cost of running a mlm business mounting and no signs of success showing, most people decide to get out before they lose too much.
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
As mentioned earlier, a limited budget is one of the main reasons people fail in MLM. What's the solution to this? One way that many savvy network marketers are getting through this dip is finding a way to bring in extra money while attracting their prospects. In many cases it's a simple matter of creating a report that they can sell for a small price, typically between $20 and $40.
This has two big benefits;
1. You get instant cash flow into your business which funds your future marketing efforts.
2. The people that are willing to spend money educating themselves about building a MLM business are much more qualified than any people that you approach.
Creating Your Information Product
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.
If all of that seems like a bit too much trouble you can always promote someone else's report as an affiliate. Obviously you will only have half the profit margin but many people are operating this way and it can be a good way to get started with information marketing. Usually when you sell an information product like this the purchasers information is passed on to you and they become your exclusive lead.
Killing 2 Birds With One Stone
Wouldn't it be nice if you could get quick cash flow into your MLM business while at the same time attract highly qualified leads. This simple method of creating a report to sell does both these things. This takes away the 2 major causes for failure in MLM; no cash flow and no leads.
Most of the top network marketers are building their businesses this way.
Did you know that 97% of network marketers never get through the dip that was mentioned in this article? If you'd like to know more about the secret of getting through the network marketing dip and avoiding network marketing failure I've got 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?
This is a really easy question to answer -- because they are not making any money. The other reason is that they are probably losing money as welll!
The Network Marketing industry is not a get rich quick business; it takes time to start making any serious money. There are the lucky few who manage to sponsor an MLM superstar and this can make them a bucket load of money, but this is like the proverbial hens teeth...rare indeed.
In fact, banking on sponsoring an MLM superstar in the making is damaging for your long term chance of success in MLM. It's the slow and steady building of a business that will bring more reliable results.
The #1 Reason People Fail In MLM
Limited marketing budget is the number one reason people fail in network marketing. Often after paying autoship there is little or no money left over for marketing.
This situation eats away at peoples confidence to make the business work. With the cost of running a mlm business mounting and no signs of success showing, most people decide to get out before they lose too much.
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
As mentioned earlier, a limited budget is one of the main reasons people fail in MLM. What's the solution to this? One way that many savvy network marketers are getting through this dip is finding a way to bring in extra money while attracting their prospects. In many cases it's a simple matter of creating a report that they can sell for a small price, typically between $20 and $40.
This has two big benefits;
1. You get instant cash flow into your business which funds your future marketing efforts.
2. The people that are willing to spend money educating themselves about building a MLM business are much more qualified than any people that you approach.
Creating Your Information Product
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.
If all of that seems like a bit too much trouble you can always promote someone else's report as an affiliate. Obviously you will only have half the profit margin but many people are operating this way and it can be a good way to get started with information marketing. Usually when you sell an information product like this the purchasers information is passed on to you and they become your exclusive lead.
Killing 2 Birds With One Stone
Wouldn't it be nice if you could get quick cash flow into your MLM business while at the same time attract highly qualified leads. This simple method of creating a report to sell does both these things. This takes away the 2 major causes for failure in MLM; no cash flow and no leads.
Most of the top network marketers are building their businesses this way.
Did you know that 97% of network marketers never get through the dip that was mentioned in this article? If you'd like to know more about the secret of getting through the network marketing dip and avoiding network marketing failure I've got just the story for you...
About the Author:
Steve Anderson has been helping struggling network marketers make there way through the MLM dip by showing 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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