Skeptics like to point out that most Network Marketing businesses fail. The simple fact is that 90% of all small businesses fail in the first 2 years. This includes Network Marketing businesses that are set up by entrepreneurs like you and I. In addition 90 % of the businesses that make it through the first 2 years close within a decade. These stats refer to regular, traditional small business as well as network marketing businesses. This means that 99% of all businesses don’t make it to the 10 year mark!
The next time some skeptic tells you that 99% of network marketing businesses fail then you can simply let them know that ALL businesses have that same statistic.
The list below shows some of the reasons that are commonly attributed to why people believe their businesses folded, but it must be pointed out that none of these are the reasons that most businesses fail;
The company that is sponsoring the network marketers
The compensation plan
The Federal Tax Code
The public’s preconceived notions about MLM
The Mid-east crisis
Lack of money
Lack of time
Lack of family support
Lack of faith in oneself
Inability to plan
Inability to communicate
Inability to raise growth or start-up capital
The sun was in my eyes
Being born to impoverished parents
Not marrying rich
__________________ add any other excuse here. Get the point?
Most businesses fail for 1 simple reason;
**Far too many Network Marketing entrepreneurs have impoverished attitudes about money and wealth! **
How many times have you seen an entrepreneur who thought that they were going to instantly make thousands of dollars a week simply because they had joined up with or subscribed to some amazing ‘opportunity’?
How many Network Marketers have bought into an ‘opportunity’ in order to try to make a desperate attempt at making a lot of money quickly?
The simple fact is that many MLM companies tend to prey on those who are desperate to make a rapid change and who are willing to grasp at any straw to make that happen, and I don’t just mean the blue collar working class. Frequently they buy into an MLM company and then discover that they actually have to be willing to put a lot of work and time into growing a business, but they don’t have the business skills or money management or team building skills to make that happen.
One of the points that I want to stress is that Network Marketing is not a quick fix. Yes it is entirely possible that a person can make ridiculous amounts of money fairly quickly. Thousands of people from various walks of life have proven it. The problem is that more money is not what a lot of people need to solve their problems.
How often have you heard of someone who won millions of dollars in the Lottery or from an inheritance and then became almost instantly poor again? If you are going to be successful in this business then good money management skills and good money attitudes are going to be vital.
That is one of the primary reasons why I recommend some of the books and resources that I do. This is NOT about making boatloads of money and living a life of luxury and decadence. It’s about personal development and helping others. Help enough people and you’ll find that luxury and decadence are just cool side effects. Like Robert Kiyosaki says “The more people I help, the richer I get”.
80% of the people in this country work for the other 20%. If you’ve read this far in this book then hopefully you are dedicated to becoming one of the 20%. If that is the case then be ready to do whatever it takes, even if that includes a lot of self-study and self empowerment.
Source by Rob Morgen