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afaleye
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#1 · Posted: 6 May 2010 12:59
If you ask me why there is a 97% Failure rate in network marketing I can unequivocally tell you that the main reason is that the old methods that they are taught do not work most of the time.
So your led to ask the question, what are most fledgling network marketers taught? Well, I can only speak from my experience, but what I was taught to write a list of everyone I know and invite everyone to a weekly Hotel meeting or Home party.
Now, I'm not going to say this doesn't work, but I will say is that after inviting the same people to meetings because you've been through your entire list, and everyone said no what do you do next?. You may start talking to strangers. Honestly, unless you're natural born confident sales leader
going into your network marketing career you'll probably won't be doing that especially if you have a full time job. .
Don't get me wrong you might be very at prospecting and cold calling leads, but most people aren't. What happens to most people is after they've spent hundreds of dollars on leads and gas driving from place to place to meet with people they barely know, they have very little success after months of effort?
If you find yourself going this route, you will get burned out and inevitably give up. The truth be told, yes! you want to make more money and the reason that you started in Network Marketing is you may believe that pot of gold can be found by speaking with a few people and Voil�! Your an overnight millionaire. But that is not the case as you will find out.
Hearing NO all the time leads to quite a bit of self doubt, both about most network marketer's own ability and the validity of their association with network marketing.
Negative feelings about the industry begin to fester inside and as I said before eventually you will quit never to return again, usually within 3-6 months.
Most people that join Network Marketing companies may do so for the product but initially it's because of the high hopes of making a lot of money and becoming financially free. The reality for most is that they have very little business skills or marketing knowledge as many come from an employment background. This mentality is then brought into the Network Marketing arena where skills have to be learned and for most undoing their old ways of thinking needs to be altered and this can be a challenge in itself.
I think this is another reason that some Network Marketer's hop from one company to the next, not realising that the companies products or compensation plan doesn't really make much difference. If they are to succeed they are going to have to learn new skills period!.
This is why fledgling network marketer's perception of their business and the industry goes from one of opportunity to one of complete doubt and negativity. Reality follows perception, so they believe both them and their business have little to no hope and this becomes TRUE.
This I feel is the reason that most Network Marketer's Fail
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dangrimes
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Joined: 10 May 2010
Posts: 4
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#2 · Posted: 10 May 2010 02:59
Have you ever looked at the failure rate for a traditional business? It is very high also, but most times you have your name/credit on the line. The fact is, that most people are not business minded. They have "Job Mentality" Not that it's bad, they are not cut out to own/run their own business just like I am not cut out to work for someone.
Most people who join a MLM company should not have joined and most of the time the person who got them in. The blind leading the blind.
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ryanbiddulph
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Joined: 18 Apr 2010
Posts: 78
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#3 · Posted: 10 May 2010 09:21
Yes, prospecting people you know is silly. Why? Because you already know them. The idea is to meet people who you don't know. The chances of somebody who you know being interested in whatever you're offering is slim. Did you build the relationship on what you are selling? Of course not. The relationship was established a long time ago for some other purpose.
The aim is to target your efforts on people who want what you have to offer. This is where online strategies like SEO and social networking come in. Target and prosper.
I feel that lack of persistence is the #1 reason of failure. Even when network marketers have all the tools to succeed and focus on a target market they tend to throw their hands up when they haven't *made it* after a few weeks or a month. Remember that it's having the proper tools, using them effectively and doing this on a continual basis over an extended period of time. No one receives anything without first passing the persistence test.
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FreeCashMan
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Joined: 31 Dec 2007
Posts: 478
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#4 · Posted: 10 May 2010 12:18
Show me the person that failed in MLM that studied and applied marketing strategies that consistently brought new interested & qualified home business seekers to view their respective companies presentation...I doubt that you can.
There nothing wrong with talking to family and friends, as they are just like you, but they are also just like others. Some will, some won't, so what next.
Bottom line is learn to engage in marketing strategies that will, through consistency, get qualified interested prospects that are looking for a home business opportunity in front of your biz opp and you can and will have success.
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getagrip
Joined: 20 Feb 2006
Posts: 2027
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#5 · Posted: 10 May 2010 12:19 · Edited by: getagrip
There are lots of reasons network marketers quit, but I think the main reason is a lot of network marketers are not natural sales people. Go to a car dealership and some of the sales people are very good at what they do - they can sell ice to an eskimo - others are not so good because they are in the wrong business. I'd say that most people who are in the network marketing business are in the wrong business - they have dreams of becoming rich, which is what lured them into the business in the first place, but they are not natural sales people, and let's face it, if you don't have the skills to attract people into the network marketing business, or sell the products that the business offers, then you are not going to be successful at any network marketing business. I've heard the 97% statisctic thrown around a number of times, and I'd say that the reason 97% of all people who join a network marketing business fail is because most of these people are not natural sales people and are in the wrong business! 
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chucks
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Joined: 7 May 2010
Posts: 22
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#6 · Posted: 10 May 2010 18:37
I feel why most people quit is because when they initially get involved they have the 'excitement' factor.
They are on an emotional high from the income potential and the lifestyle ... it's like fantasy.
But when reality sets in , they realise it's really a business ,things don't go they way they expect and that their is work ,discipline , determination , skills , training , personal growth involved....
....and some people just can't cut it.
To your success,
Chucks
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JHandy
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Joined: 24 Apr 2010
Posts: 49
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#7 · Posted: 10 May 2010 19:04
No leads to share their business with.
No mentorship
No marketing education
No Leadership skills
Jerry
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gingerva
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Joined: 6 Mar 2010
Posts: 35
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#8 · Posted: 12 May 2010 17:15
I understand how you could feel that way however, people fail because they simply give up (quit). It's impossible not to succeed if you stick with something long enough. If you really believe in what you are doing, you will...and you'll find the way.
Only 3% succeed because only 3% keep going when the going gets tough. It's not just in Network Marketing - that's life. And that's why only 3% of the population is wealthy. If you want the big payoff, you better be prepared to work hard until you get it.
To me...the word NO just means "not now."
Most people aren't good at prospecting because they have never been taught how to do it the proper way - it is a skill and it can be learned.
You don't have to be good in sales either because I have a 30 year sales background, have had years of sales training and I made a lot of mistakes when I was a "rookie". I learned a lot from all those negative experiences however, and now I know what NOT to do...and thankfully I also know what To Do 
I think Network Marketing is a fantastic industry with limitless possibilities - as long as you're willing to work harder on yourself than on your business.
Much success,
Ginger Hogue
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weblaunch
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Joined: 12 May 2010
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#9 · Posted: 15 May 2010 16:16
Just like anything worthwhile in life, there is a learning curve involved in network marketing. Many people are lured into the field by the promise of making a lot of money with little effort in a short period of time. This perception tends to attract the wrong type of people into the business, hence the high rate of failure.
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