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FreeCashMan
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Joined: 31 Dec 2007
Posts: 1029
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#1 · Posted: 6 Oct 2010 10:15
People believe that MLM is the epitome of business failure for individuals. Is such really true?
This video gives a perspective on "do most people fail at mlm" that really must be considered in answering that question.
http://www.youtube.com/watch?v=-LEjX1GfDEI
It gave me a new perspective to consider on failure and mlm
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westfam11
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Joined: 8 Aug 2007
Posts: 563
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#2 · Posted: 7 Oct 2010 04:55 · Edited by: westfam11
Funny you should post this today. I am proof that you don't have to fail. This month I am on target to make enough income to quit my medical transcription job which has been my goal for this year. I am so excited. I didn't give up and it is really happening.
Of course I have extra help because of the business model (cooperative marketing) and I am able to purchase customers and they are mine for life and I receive commissions every month from these customers. The product works so there is a high reorder rate and also I am able to build a relationship with my customers by calling them, sending thank you cards, etc.
FreeCashMan: People believe that MLM is the epitome of business failure for individuals. Is such really true?
I used to believe this also, but not anymore.
Nice video, very true.
Rebecca
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happywife
Joined: 14 Aug 2007
Posts: 1493
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#3 · Posted: 7 Oct 2010 05:08
westfam11: This month I am on target to make enough income to quit my medical transcription job which has been my goal for this year. I am so excited. I didn't give up and it is really happening.
Hi Rebecca,
I just wanted to say a big congratulations to you! I know you've been wanting to give up the transcription job for quite some time, and I'm so happy for you that you are realizing that goal.
I'm glad Trivita worked out for you and I hope you continue to do well.
Blessings,
Angie
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A8ch
Joined: 24 Jun 2005
Posts: 896
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#4 · Posted: 7 Oct 2010 06:08 · Edited by: A8ch
FreeCashMan: This video gives a perspective on "do most people fail at mlm" that really must be considered in answering that question.
It does indeed, and not only as it applies to MLM but to any pursuit in life. It's easier for us to blame something or someone else for our own failure rather than take responsibility for not doing all that's required to succeed.
We can be so desperate to find success that we half expect the vehicle we choose (mlm, internet marketing, new diet program, online course, etc.) to magically take us there. The truth is, we have to drive the vehicle ourselves. That takes knowledge, effort, application and persistence.
happywife: This month I am on target to make enough income to quit my medical transcription job which has been my goal for this year. I am so excited. I didn't give up and it is really happening.
Very well done, Rebecca! There is nothing that matches the experience of setting a goal and working diligently until you accomplish it. I am so happy for you!
Hermas
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talfighel
Joined: 17 Mar 2007
Posts: 975
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#5 · Posted: 7 Oct 2010 07:38
No, people don't fail in MLM. That comment is NOT true at all.
These people QUIT.
These are 2 different things.
Those who never quit and take consistent action do eventually succeed.
Tal
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westfam11
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Joined: 8 Aug 2007
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#6 · Posted: 7 Oct 2010 07:56
Thanks Angie and Hermas. I really appreciate your congrats.
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mountainmom5
Joined: 30 Aug 2007
Posts: 3044
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#7 · Posted: 7 Oct 2010 13:29
westfam11: This month I am on target to make enough income to quit my medical transcription job which has been my goal for this year. I am so excited. I didn't give up and it is really happening.
SO excited for you! Doing the happy dance for you.
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westfam11
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#8 · Posted: 7 Oct 2010 13:30
mountainmom5: SO excited for you! Doing the happy dance for you.
Aw Thanks!
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weebitty
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Joined: 8 Mar 2010
Posts: 310
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#9 · Posted: 8 Oct 2010 10:47
congratulations on your success. It is nice to hear the good stories kind of gives hope out there that it is being accompolished
the video is absolutely great and so true. The analogy is perfect to compare what he is trying to get across, in a format anyone can understand. Thanks for posting it. We can all go back to it when we need a reminder
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bbray95
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Joined: 23 Sep 2010
Posts: 42
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#10 · Posted: 8 Oct 2010 16:24
The people that fail are the ones that im sure are saying it wont work. Well thats a crock because people are doing it everyday!
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chris
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Joined: 14 Oct 2010
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#11 · Posted: 14 Oct 2010 10:35
I'd hate to sound like a broken record, but the only real way to fail is to quit. That's true for life in general, though. MLM is a legitimate business model, and one even Robert Kiyosaki recommends for those new to the business world. You have to be realistic with yourself, though. Do you like working with/talking with people? How accountable are you? Can you accept mentorship? You can't treat it like a hobby or a social club and expect results. The reason there's a high "failure" rate is people aren't willing to work on themselves. They may prospect like a madperson, but aren't willing to alter their approach or methodology. That's assuming they even work on their business at all...
Now, does that mean all MLM companies are created equal? Sadly, no. Anyone interested in an MLM business should do their research. Know what products/services are being offered. How much of a market is there for said products/services? How does the price compare to similar offerings? There are many MLM companies out there, and a clever comp plan doesn't equal long term stability.
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johnliew101
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Joined: 13 Oct 2010
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#12 · Posted: 15 Oct 2010 09:21
I agree to Chris ...
Some MLM companies only need you to work for them, and
not to make you richer!
So, do research before you join!
And, create a system to build your list and have people
approaching you ... the right way to play MLM game!
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coachred
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Joined: 26 Oct 2010
Posts: 5
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#13 · Posted: 26 Oct 2010 10:42
I think some people do fail. BUT I don't think it is necessarily the company's fault. TOO many people jump into an MLM and don't ask enough questions. Some people are not of the mind set to handle all of the multi tasking that needs to be done to make things happen. I do think eventually all can make something happen but most can't get there from here. We are a special breed.
Jennifer aka Coach Red
Independent Beachbody Coach
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FreeCashMan
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Joined: 31 Dec 2007
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#14 · Posted: 27 Oct 2010 07:50
chris: You can't treat it like a hobby or a social club and expect results.
That's a key factor, to many people don't ear mark the time to succeed. They don't clearly layout when they are going to put in the work to get the results from their business.
We just did a training to aid people on find the time they were going to actually work their business. If you don't do that then you can expect positive results. It would be like not going to your job but still expecting to get paid.
Those that have success, notwithstanding the crappy comp plans of most mlms, do so because they put in the time to excel.
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Mflaclair
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Joined: 27 Oct 2010
Posts: 21
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#15 · Posted: 27 Oct 2010 13:21
Network marketing has a huge failure rate of 95% give or take depending on the day and who your talking to. The main reason for the failure is that the industry is still using methods from the 50's to the 80's. The same marketing methods are being used such as: Make list of your friends and relatives, hand out DVD's, talk to anyone within an arms length. These techniques simply haven't worked in years.
The companies have their replicated websites and those sites will position the company your affiliated with not you. Find a company and product that you love, I mean have passion for and go for it using new technology and marketing techniques. Do not market to your warm market until you achieve success with other markets.
Marc LaClair
<Snip>
[Link removed - Admin]
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Ydris
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Joined: 30 Oct 2010
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#16 · Posted: 30 Oct 2010 16:58
Put In The work, and you will Succeed. Put in No Work, and you will get No Results, simple is that.
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ElizabethFM
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#17 · Posted: 31 Oct 2010 14:14
There are so many reasons why people quit / fail: The ones I find at the top of the list:
1. Expecting results too soon.
2. Having little or no real old fashioned business insight.
3. Having joined a company with products not suited to their market.
I'll expand a little: On no. 1: My experience is that people want to go the "easy" way - i.e. start with their warm market, print flyers and distribute, put up a poster, maybe open a facebook Page - then expect prospective recruits / orders to flow in.
On no. 2. By not understanding even basic concepts like writing a business plan, target market, conversion rates, advertising campaigns etc., their expectation is not based on reality but on unrealistic "goals" (maybe fuelled by their upline / company?)
On. no. 3. Living in New Zealand, I have seen companies launch products that could not realistically sell here. Telling new recruits how well the products sell in the U.S. for instance, is of little gain to the person involved who quickly walk into a brick wall of resistance.
Obviously these are just some of the reasons people quit but to my mind worth addressing.
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Jack
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#18 · Posted: 13 Nov 2010 09:35
There are some good points here about failure in the work at home MLM,Network Marketing industries, but from my experience these companies have no real training system other than teaching how to sell.
This is why a lot of these companies now offer free replicated web sites and still teach old out dated strategies. Think about this if they have a 100,000 distributors selling or buying $50 - $100 a month and they know what their attrition rate is they will be successful.
Also this is why they teach and tell you that you need to sponsor tons of distributors. We teach just the opposite.
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FreeCashMan
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#19 · Posted: 13 Nov 2010 15:05
Jack: sponsor tons of distributors
That's been the "marathon race" method for success of the masses of networking business for 5 decades. Thankfully I've gotten wise to that and find a way to run a "sprint" to success in this industry.
Think about this. When you look around and see big money top earners in the business, then take a critical analysis of the compensation plan for generating Monthly Residual income, and you find that you need thousands to tens-of-thousands that could fill up a basket ball arena to generate a nice 4-5 figure monthly income you have to ask yourself what is the average persons chances of achieving such? Not good.
Historical factual data says that it only occurs over a very long period of time, if it occurs. That approach for you and I the average person to succeed in this industry has been a dismal failure to the mass of participants.
It's not that, such comp plan structures may not have a place in this industry, but people need opportunities that are structured to generate them a nice 4-5 figure monthly residual income in a short period of time with a SMALL TEAM! Especially in getting things going.
Doing it the way it's been done for decades is a continuation of acts of insanity that won't lead more average and ordinary people to achieve the success in this powerful income producing industry where leverage makes it the best home business opportunity to participate in bar none.
People need networking home business opportunities for income like never before. And they need a new approach to making success highly probable.
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tmrt23
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#20 · Posted: 18 Nov 2010 09:52
That is really not true. It all depends on the system you decide to become a part of and how much you are willing to put in. Like all other jobs you have to work hard to achieve your goals, you have to be willing to make the sacrifices and take the risks. Some people start a business because they want to get rich quick which is the absolutely wrong reason. There are mlms out there that will help you to make good money in a short period of time but most require work. As Chris said the only way to fail is to quit and if you started for the wrong reasons you will end up quiting.
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