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MLM Network Marketing - Why Failure Rate Is so High?
In recent years people are increasingly looking for extra source of income. They are prepared to utilize their spare hours and work at home to pursue their cherished dream of financial freedom. Many of them are attracted towards MLM network marketing for variety of reasons. There are thousands of multi level affiliate programs which promise tremendous business opportunity. Internet has made it possible to work from the comfort of your home.
But why failure rate of MLM network marketing programs is so high? Only 3-5 percent people make sufficient earnings to support themselves. Most of the people are not even able to recover their investment.
People join MLM marketing programs with lots of hope and expectations. But they are not adequately prepared for the pitfalls they have to deal with. These pitfalls are not difficult to identify. Let us see some of the important ones.
Lure of Quick Riches : This is probably biggest attraction for new home based business and small business owners. But get-rich-quick schemes rarely deliver what they appear to promise. They are also responsible in a big way for such a high rate of failure among work at home enthusiasts. My advice - stay away from such inducements. If you are tempted to try any such scheme, try to look at other features beyond the promise of quick gains. It is much safer to stick to reputed organizations which have been around for few years.
Lack of Experience : There are numerous instances where the same affiliate program or MLM network marketing program helps some people to earn substantially more than many others. If you look closely you will find that such successful people have been associated with internet marketing since quite some time. Any newbie will require training support and possibly mentoring to succeed in business promotion. Only those MLM network marketing programs should be selected which provide adequate training and promotional tools. Lack of experience should not be taken as a deterrent; it should be taken as a challenge. Experience is something which has to be earned. Unless you actually jump into water you cannot start swimming.
Setting Goals Which Are Too Short Term : When you join a top affiliate business opportunity, you should have a long term horizon. While promotional efforts should be done with some regularity, results generally come only after sustained efforts for few months. You should resolve to really follow the training lessons of the affiliate program and give it a fair trial.
Lack of Commitment : There is one major factor which decides between success and failure. That factor is YOU - your mindset and motivation level. Nothing else really matters as much. My idea is not to scare anyone. I am only trying to emphasize the point that your success is well within your reach - you only have to reach out.
Continuous promotion of business is a must for success. While there are inexpensive and free promotional methods, such as writing articles like this one, there is no substitute for your commitment. Whatever methods of promotion you choose, you should diligently follow them month after month and stay long enough to reap the benefit. Success in your MLM network marketing program is ascertained by these proven methods.
Sanjay Johari regularly contributes articles to several ezines. See his site for collection of excellent articles by various authors on starting and running home based small business, business opportunities, business tools and more.
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