There is an expression in the network marketing industry that people don’t fail, they only quit. I am not sure if I completely believe that. I would tend to think that there must be some network marketers out there who are very bad at the business and because of their actions or lack thereof, they fail.
That being said, I do believe that the majority of people who leave the MLM industry, quit. What on earth could cause these people do leave a business that has the opportunity to make them financially independent in a few years? Would someone actually walk away from a great opportunity without a good reason?
The answer to the latter question is YES, they would, and here are the three main reason why I believe they do so.
1. A very poor or lack of a reason “why” they are doing the business.
When I was first told about this concept it was the day that I launched my business. I wasn’t forewarned that I would have to come up with a reason beforehand so I was a little surprised and caught off guard. I mean, I figured that the reason I got involved was to make money and a ton of it. Isn’t that why everybody did so?
So I had to think about it for a bit and came up with something that had to do with spending time with the family, especially my two young children. I had missed spending quality time with my eldest child because of work and I did not want that same scenario to materialize.
I have come to realize that my reason “why”, is the most important aspect of the MLM industry. Your “why” has to be good enough to motivate you on a day-to-day basis. It has to be good enough to get you through the many ups and downs that you will face. It will have to be good enough to get you past the negative attitude you will face from people, some of whom will your closest friends and family members.
So, take all the time you need and really dig deep inside yourself to reflect and come up with your reason “why” and don’t stop until that reason is absolutely perfect.
2. Not earning enough money right away.
Many people enter the network marketing industry thinking that it is a “get rich quick scheme.” It is unfortunate that they feel this way, but the more important point is that this belief is often perpetuated by their sponsor.
Whoever I introduce my business to, I stress more than once, that the results are not a guarantee and furthermore, emphasize to them that the opportunity is not a “get rich quick scheme.”
Although there are many network marketers who earn significant income within their first year in business, this is not the norm. Most people involved in this industry, do not experience financial rewards for at least 2 to 5 years. In addition, there are many who do not earn significant income until at least 10 years in the industry.
Most MLM companies offer a bonus structure wherein representatives can earn some income while their residual income is building. That being said, the reason that I became involved in this industry and why most others do, is the amount of residual income that can be generated. To earn this type of income takes time and those who lack the patience to wait, will miss the rewards.
If you are not willing to put in at least 2 to 5 years and actually work your business during this time frame, then do not get involved or continue.
3. Not treating their business like a business.
Being a network marketer is having your own business. You are an entrepreneur in the true sense of the word. You are a business owner just as much as a person who owns a restaurant franchise.
Unfortunately, most network marketers do not have this same mindset. I think the main reason for this is due to the very low start-up costs involved. I sometimes think that the low-cost is both a benefit and a curse. How so? If a person only spends $500, or less, to become a network marketer, then many will treat their business like a $500 business. I don’t think someone would have that same attitude if they had just paid $500 000 for a restaurant franchise.
So, when a network marketer’s business is not going well, if there are a lack of results or no results, then it is so easy to walk away from that $500 investment and many people do. You must treat your business like that million dollar franchise. Believe that you are the owner of a multi-million dollar network marketing operation and act accordingly.
In summary, DO NOT QUIT! Focus on a reason “why”; work your business for at least 2 to 5 years and run it like you are the proud owner of a multi-million dollar franchise.
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Wishing you great success.