Why MLM Fails
… or is it really?
WHY MLM FAILS – the statistic is mind-boggling — there is a 97% failure rate in MLM (Multi-level Marketing). So what is in the MLM business that attracts thousands of people every single week, and only to end up failing and losing money? The lure of the business is the promise of a lucrative income with less investment or no investment at all. Dreams are being sold here but your hardwork and hustle is sold separately. It seems to have let loose the entrepreneur in these people with the dream that some day, they will also become millionaires like those who have been successful in this industry.
So, someone told you about a great MLM business opportunity, and with much enthusiasm and eagerness, you signed up. Then you do the preliminary things, like reading the training materials, attending the meetings and webinars, and creating your own website. And then things start to go downhill because of a countless things, like not getting the right leads, losing the drive and motivation or getting frustrated because things aren’t working out the way you envisioned it. So, you quit before your business has even started, and you haven’t figured out what went wrong, and try to find the solution.
I will now try to present you with the top seven reasons why some people fail in the MLM business, and the pitfalls that you should try to avoid as a newcomer.
Signing up without knowing the products and little knowledge about the company and the leaders behind it (isn’t some of you are in to this dilemma?)
Before you sign up with any company and give away your hard earned money, do some research. Get to know more about the company and the products that you are going to sell. Treat this as a business and read the policies and procedures, including the fine lines. Also, make sure that they will provide you with the adequate support system and training especially during the crucial initial stages. Remember that training is the heart and soul of a successful MLM business.
Lack of Cashflow
(maybe one of the reasons MLM Fails?)
This business is not a get rich quick scheme as what many people think it is. As with any other type of business, it requires time, perseverance and hard work. Don’t get caught in the hype of earning tons of money in a snap of a finger. On the average, it takes about ten years for a business to really be called successful and reap millions. And when you don’t have a cash flow (just yet), you stopped working on your business because money might be too slow for you. There is a better way to increase cash flow. Learn more here guys! its truly amazing what you can discover from this community. Click here.
Selling using old school methods instead of Building Relationship by Leading with Value
Traditionally, MLM marketers would go around traveling to get prospects, make phone calls or host home parties. Though these methods may still work, times have changed and the internet has made everything so easy and accessible. Take time to explore around, utilize social media, and find the right programs to aid you in running your business.
How to MLM and avoiding the mindset of why mlm fails because you just can’t do it. Network Marketing guys as what I have always been saying is the MOST profitable business on planet earth! But you have to put action and work.
Lack of Leads
(absolutely! why MLM fails)
This could be one of the major reasons for failing in this business, the lack of enough people to talk to. And it is because they have no skill in lead generation strategies and techniques. The idea is very simple guys, we are all involved in this what we call “relationship business”. And what do we do in order to generate leads and increase sales revenue? — We must lead with value by bringing value to the marketplace! Solve “peoples’ problem and find solutions to their pains”. Learn how I generate laser targeted leads for FREE! Yep! Free Targeted Leads folks! Click here!
Lack of upline support (are you on this same predicament?)
and you think why MLM fails
Being a new MLM marketer, you need all the help and support in starting your business from your upline. They should have an active role in training you and in teaching you the fundamentals, or else it could lead to your failure. Some uplines don’t really bother to assist their downlines once they have signed up, and that could spell disaster.
When you QUIT – then it failed you! That’s the bottom line why mlm fails as you claim.
The MLM business may take time to build the business just like any other business that we know. Statistics reveal that more than half of the people in this business quit within their first 30 to 60 days. You cannot expect to see results right away. Dedicate your time and effort to it for at least 1 to 2 years before you could see if your business is thriving or dying, and then make the appropriate adjustments. From then, you can decide whether this is the right business for you or not.
Allow yourself to build your business on a Part-time basis, don’t quit your day job yet or if you don’t have a job now, find a second job until your business can match or exceed your current income, make sense? The power of working part time is huge when attracting people to join your business! You are building a fortune here, working part time. So don’t quit, keep working hard, I am telling you, it will all be worth it. JUST DON’T QUIT, folks! (why MLM Fails)
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