So Why Do 97% of Network Marketers Fail?

The network marketing industry has proven to be very lucrative for a handful of people. You see and hear their success stories and it can be a beacon of hope in an otherwise dreary and down-trodden economy and job market.

But unfortunately, these success stories are far outweighed by the number of people who have not been successful in this industry. In fact, 97% fail at MLM…a statistic that is not encouraging to someone looking to get started in this industry.

Network Marketing is a business. And that’s one of the biggest reasons why people do not find success: they treat it like a hobby. A hobby can be a lot of fun and is normally done because it’s something you enjoy. But at the end of the day, you only spend a few hours with your hobby.

Your business is a different animal. You don’t have to commit 70-80 hours a week to your network marketing opportunity. In the same respect, you can’t expect to make a fortune from only a couple hours of work.

One of the major selling points of an MLM is the ability to work the business part-time while still maintaining a normal work schedule. But many people get caught up in this and use it as an excuse not to pour time and effort into their business. You may have worked some overtime at the office this week, and therefore feel the extra income that will come for those extra hours can supplement the income you would make if you put any effort into your business this week.

This begins an evil trend that allows you to become complacent about your business, thus turning it into an expensive hobby.

Another reason 97% fail at network marketing is entitlement. A great deal of people listen to the sizzle calls, see the flashy banners, and listen to their uplines talk about the stacks of money they’re going to make. So, they sign the dotted line and expect the money to pour in. And when it doesn’t, they don’t look for a way to expand their knowledge. They look for someone to blame. And, inevitably, the one who catches the blame is network marketing itself.

When you’re looking for a network marketing opportunity, it’s important to look passed the product, the company, and the compensation plan to see if you’re being sponsored by a leader or if you’re being sponsored by someone who’s looking to make a quick buck.

A leader will be there to mentor, coach, teach, and train you to be successful. They will genuinely care about YOUR success, not their own. Someone looking to make a quick buck will spout company lines and constantly refer to how great the compensation plan is and care for no one but themselves.

A third reason 97% fail in MLM is their lack of commitment to growth and development. Top earners in this industry realize their education never stops, and force themselves to learn something new every single day. Constant expansion of knowledge will lead to higher amounts of success because you absorb knowledge that you can not only apply to your own business practices, but you can pass along to your business partners as well.

Whether you’re looking to join network marketing full-time or simply create a second stream of income to accompany your current job, it’s imperative you recognize one thing: The comp plan, the product, and the flashy websites with people standing next to sports cars with wads of money are worth absolutely nothing if you don’t learn how to effectively market. The Internet is a marketing gold-mine right now, and with the ever-growing popularity of social media sites like Twitter and Facebook, that trend will not fizzle out anytime soon.

There are countless people who are learning effective ways to market online. For example, my business partner, Andrew Cass. This is a guy who had a great career on Wall Street and left it all behind because he realized one important fact: There is no recession on the World Wide Web!

You can watch Andrew’s story and views on the ‘recession’ by Clicking Here