Ever hear the statistic that 95% who try network marketing fail at it? Well if you’ve been involved in the home based business arena for longer than a few months, then I bet you have. But I bet you’ve also heard the statistic that 95% of Americans end up broke. So here’s a question: Do you think it’s just a coincidence that both of these groups have a 95% failure rate?
The answer is no. The reasons that most fail in network marketing are the exact same reasons that most fail financially as a whole. And as you might guess, these reasons really aren’t all that complicated as failure in anything almost always comes down to either quitting, or worse, never getting started.
Let’s start with the quitters. Unfortunately, this describes most home based business goers today. They go from one income opportunity to the next, never really building any solid foundation from which to launch a successful business. They try something a time or two, but once they encounter any serious resistance, rejection or failure, they throw in the towel.
Worse still are those who start a brand new network marketing business out of their desire to achieve financial independence, but never go beyond the first chapter of the training manual or dial into their second training call. These folks start with the best intentions, but eventually allow procrastination or fear to get the best of them.
Now to be fair, I must admit that, yes, there are scams out there. Also, some network marketing companies have less than stellar training programs, and/or some uplines fail to provide adequate contact, support and training as well. And the list goes on and on. The point is that things happen outside of our control and these things often contribute to the inevitable failures we endure on our journey to success.
However, when something like that happens, we must see it as nothing more than a failed approach to realizing a goal, and not a failed goal itself. Meaning, if our goal is to achieve financial independence and our first attempt at it fails for reasons beyond our control, then we owe it to ourselves to simply find a new approach.
Suffice it to say that the 95% failure rate in network marketing really isn’t all that significant especially when you consider that it’s certainly possible to succeed where countless others have failed. It just requires finding out what they did or failed to do, and avoiding those same mistakes.
So the next time you hear about the 95% failure rate in network marketing notice where it’s coming from. More often than not it will be used as part of a sales pitch by someone trying to sell you something that will supposedly keep you out of that 95% bracket. Buyer beware! What determines a person’s success in network marketing over the long run isn’t something they can buy. MLM success is about a commitment to acquire the skills necessary to succeed, as well as a decision to relentlessly pursue success until it’s achieved.