The failure rate in MLM is a real shame. So many people come to the industry with dreams and aspirations of freedom only to give up just a few months into the deal.
Most of these people have invested a sizable amount of cash to get into their business opportunity and quite often have spent money on products that are tucked away in a cupboard never to see the light of day again.
Why Do People Quit Their MLM Business?
The short and straight answer to this question is because they are not making any money…plain and simple. Not only are they not making any money, more often than not they are losing money!
Contrary to popular belief, the network marketing industry is not a get rich quick scheme…it takes a certain amount of time to start making any real money. You hear of stories where someone sponsored a superstar and gets rich, but in reality this hardly ever happens.
Always wanting to get that network marketing super star on your team will be harmful to your long term success. If it happens it great but having a slow and steady approach to business will bring better results.
The Primary 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.
Seth Godin wrote a book about the dip in any successful venture. The dip is that period of time between starting a business and seeing it through to the point where it is profitable. Every business has a dip, some longer and deeper than others. The average CEO spends about 25 years climbing the corporate ladder to get to that position…sometimes it pays to stick around a while to reap the rewards of your hard work.
Getting Through The Network Marketing Dip
As mentioned above, failure in MLM is often due to a limited budget, so what’s the solution to this? One way that network marketers are getting through this dip is finding a way to bring in extra money while they attract prospects into their business. Usually this is done by creating a useful report and selling it for between $20 and $70.
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 home business are much more qualified than any people that you approach.
Creating Your Offer
You don’t have to write an encyclopedia on your topic; a simple, well written 30 to 40 page report will do the job just nicely. If you have already written some articles you can just bundle them together so that they make sense and use that as your report.
If can’t be bothered writing your own report, then getting someone to write it for you is also an option. There are some excellent outsourcing companies that you can get these kinds of reports written for a very reasonable price.
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.
2 For The Price Of One
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.
Many of the top MLMer’s are building their businesses using these exact methods.
It’s sad to think that as high as 97% of network marketers never get through the dip and realize their dream of financial freedom. It doesn’t have to be that way. If you would like to know more about getting through the MLM dip and how to avoid home business failure, I got just the story for you…
Be The First To Comment
Related Post
Please Leave Your Comments Below