Here’s a very sobering statistic for you. 97% of network marketers, who attempt some form of network marketing business, where down-lines are your gravy train, fail in short order because they either cannot successfully build their down-line or they build a very weak down-line. Let’s call them the “97 percenters.” They quickly come and go in the business, with many of them turning to bad-mouthing the industry because they failed miserably, thinking they gave it a valiant effort, and it just didn’t work – heck after-all, it wasn’t their fault.Well, there are a few things going on here that many who understand the industry can easily explain. Since I was one of those “97 percenters” for a two to three-year span, I can empathize with them. However, rather than outright quitting after only a half-hearted attempt, I persisted, even though I kept making the same mistakes over and over. I’m sure you know the old saying, “the definition of insanity is doing the same things over and over and getting the same results.” That certainly was me at one time.As my attempts at network marketing continued their ascent into the abyss, I blamed the programs themselves for my failings. I just assumed that they weren’t as attractive to others, as they were to me. I thought maybe I was the oddball for seeing value in the product or service.Nothing changed in my attempts at success until my lightning-fast mind began to consider, maybe it wasn’t the programs after-all, but just maybe it was “me” that was the problem, and my lame strategies at attracting leads.Let’s start at the beginning and discuss the nature of a network marketing business.Many assume that because it is easy and very inexpensive to get into the network marketing business that they can just sign up with a NM program and the money will just come rolling in.Now in fairness, whether it’s intentional or not, that’s how many of these network marketing programs tend to mislead people to believe. Let’s face it – and this is not an excuse to mislead people because I believe network marketers, for their own reputation, should be upfront with the statistics of potential success and failure, and by law they should be – but if network marketers were to give these statistics, their prospects of accumulating leads would drastically be reduced.In the same token, as a network marketer, you want to keep you product or service reputable and not be looked at, as so many do today, as nothing more than a “pyramid scheme.” In some cases this label may fit, and you should certainly steer clear of those types of programs, where nothing of value is being offered. There is no product or service that one can get a benefit from.These programs certainly only benefit, monetarily, those who establish the program. These programs quickly “peter out,” almost as quickly as they started because most people want something of value when forking over their hard-earned money. Plus the fact that pyramid schemes are unlawful.However, network marketing is a very reputable and profitable industry if your product and/or service holds value in the eyes of the end consumer. The beauty of a good network marketing program is that consumers could benefit in a twofold manner. First, they can find benefit from purchasing the product or service, and then turn around and profit from it by establishing their own network marketing opportunity, utilizing the very same product or service – hence, multilevel marketing.But, that’s not the end all. You can have the best product or service on the market; yet, fail in your bid in marketing it yourself. This is what happens to many in the “97 percenters” category of failed network marketing businesses.With this post, I am beginning a series of articles aimed at the “97 percenters” and dissecting the reasons for their failure in growing a network marketing business. I mentioned earlier that I was, at one time in the not too distant past, a “97 percenter” myself. It wasn’t until I began to understand the nature of the business and that it has to be treated like any other reputable business opportunity, with knowledge of the industry and a developed skill-set to be successful.For example, you wouldn’t open a restaurant without knowing how to cook, or at least, hiring someone who does. You can go online and copy a recipe and attempt at opening a restaurant with that, but you still need understanding on how to improvise, as a good cook will in order to develop his or her own unique flavor that sets them or her apart from the rest.The same goes for a network marketing business. 97% fail because they just follow the same failed principles of those who preceded them. When you look up how to market a network marketing business, you will get the same failed examples of contacting (and ultimately alienating) friends and family and pushing yourself on them. Posting fliers on cars and local announcement boards in supermarkets or libraries, or wherever. These techniques just do not work.What a network marketer needs to do is attract others to themselves, rather than chase people down, begging them to sign on. This is the key to network marketing. Once you know how to attract people to you, it is then when you will watch your business take off.Now, don’t get me wrong, all those techniques above can help you develop your business, if handled properly and you use “out-of-the-box” ideas to attract attention to your product or service.In my next article, I am going to begin to explain how to approach network marketing and why you need to educate yourself with a network marketing business, just as you would any other business opportunity. When you follow the principles that I will lay out here in these articles to follow, your chances of exiting the “97 percenter” category and joining the top 3% will grow exponentially.Until next time, I wish you all the best of success in your Network Marketing endeavor.One last thing – if you have struggled to develop your down-line in any network marketing endeavor, don’t give up! Believe me when I tell you, that there is a lot to learn in this business, just like there is in any business. If you’ve experienced failure to this point, that’s a good thing.Yes, that’s right, I said, “It’s a good thing.” Look, many of the most successful entrepreneurs experienced failure many, many times before hitting it big. Why? Because with each failure comes experience and knowledge of what it is that didn’t work. If you analyze your failings and understand why your attempts failed, you will now have a clearer picture of what will work.I’ll end with this quote of inspiration… “Nobody trips over mountains. It is the small pebble that causes you to stumble. Pass all the pebbles in your path and you will find you have crossed the mountain.” ~Author Unknown
If you were to ask anyone who has made it to the top ranks of their network marketing company, why they joined, their reasons would vary. They generally did not wake up one day and decide to join a network marketing company. For some individuals, they had been dissatisfied for years in their current profession. They either were not compensated well enough for their time or they were well compensated but they had to sacrifice time with their family because of all the hours that they worked at their job. Many of these individuals were exposed to network marketing by a friend or co-worker and they initially said no. But time and their own life circumstances eventually made them more open to this business and they joined because they saw the ability to create an income without sacrificing their family time.For individuals who are already high income earners, the ability to have time freedom is usually one of the top reasons why they join a network marketing company. The ability to work from wherever and whenever is the ultimate time freedom. Being able to take more than a week off without having to plan far in advance with your superiors and knowing that don’t have to change your vacation plans based upon the needs of the company is the ultimate time freedom. In more recent years, a large percentage of individuals joining network marketing companies were already considered highly successful in corporate America. They were earning six figure salaries either with large corporations or as self employed professionals. However, they were attached to their jobs with golden chains. If they didn’t work, then they didn’t earn money. Their companies or their clients controlled their time meaning they were usually working more than 60 hours a week. If they didn’t fulfill their responsibilities at their corporate position, then they faced the risk of being demoted or fired. If they were self-employed and decided to take two weeks off, then they had mountains of work facing them when they returned to the office. In addition, they faced the risk of losing new or existing business while they were away from their office and the client was not able to speak with them directly.This is the beauty of network marketing. You can build your business from where ever you are. All you need is a laptop and the phone. Although it is best to meet new prospects in person, you can always direct prospective downline members to your website or explain everything to them by phone. Network marketing does not require a physical office. You can work from wherever and whenever and you are the one in control of your time. Not a corporation or your client.Another reason that individuals join a network marketing company is because they needed to earn a considerable monthly income in a relatively short period of time. In some cases, the husband who was the primary income earner had lost his job or could no longer adequately provide for his family due to health issues. It might have also been the case where there was the failure of a business and now the family was deep in debt. The only way to pay of the debts was to start earning a monthly sizeable sum of money. Network marketing is the only industry where an individual can start earning a large amount of money in a relatively short period of time.In these situations, the individuals had previously been exposed to network marketing and said, “No, that’s not for me.” But over the next months, they had repeated exposure to the business and also met people who were successful in network marketing. They then decided that this was the business they would pursue because of the potential to make a great income within six months as opposed to years in traditional corporate America.Network marketing is THE only industry where an individual with no college degree can earn a six figure income with 3-5 years of consistently working their chosen company. In some rare situations, individuals have changed their income situation overnight meaning, they have risen to the top ranks of their company within six months. These are unique individuals and not generally the rule. However, overnight success in network marketing is possible and this is the only industry where this is possible. No one can rise to the top income earners in a couple of years in corporate America. In corporate America, it would take years to earn a six figure income and it is only for those lucky individuals who get the right positions and are hired by the right companies. In addition, if you are earning a six figure income in corporate America, then you are required to work probably 60 hours in a week. Most companies in corporate America demand a lot of employees who are being paid a six figure salary. Also, your coworkers are hoping to get your position so there is always this feeling that someone else may be trying to take your position. This is the beauty of network marketing, anyone can build up a network of customers and business builders and rise up to the top levels. You are not taking away the position of another person.In network marketing, there is room at the top for everyone not just a select few who are lucky enough to make it to the top of the corporate ladder where the large paychecks are. They realize that network marketing is one those rare business opportunities that allow an individual to make a excellent income stream but it also provides an individual with the ability to dream. Now that they have a dependable income stream where they don’t have to be concerned that they will be downsized, or that someone else will take their position, they can now afford the luxury of really dreaming about what they would like to do. They no longer have to be concerned about earn an income.Another reason that many individuals are joining this industry is because of the lack of security concerning their retirement. With the recent downturn in the economy, millions of individuals in the baby boomer generation have seen their dreams of a comfortable retirement evaporate. In a 2010 Retirement Confidence survey, the percentage of Americans with little or no savings set aside for retirement – 27 percent report having less than $1,000 in savings, 43 percent say they have less than $10,000 set aside, and more than half (54 percent) have less than $25,000 set aside. Millions of Americans are working past age 65 and many working well into their 70’s because the value of their 401K’s and pension funds have dwindled. Many of them have followed the advice of their financial planners to save and invest for the future in the market but they have seen the value of their accounts massively decrease in the last couple of years. They have worked hard for the majority of their lives to plan for their future and are now realizing that if they don’t have a plan B, then they will not be able to retire. They will be working at a local grocery store as a greeter or bagging groceries until they can no longer work and then survive on their savings and Social Security.Many of these individuals may have previously said no to joining a network marketing business but in recent years, they are joining network marketing companies. They realize that it is very difficult to retire from corporate America unless you are one of the lucky ones to make it to the top ranks. Because they realize that their alternatives to build a secure retirement are limited, they are deciding that network marketing is the way for them to build a secure income stream that will provide them with a comfortable retirement and a dependable income stream well into their golden years and beyond.In the network marketing company that I am affiliated with, there are many success stories of individuals who have joined a network when they were almost at retirement age. They joined because they knew that having an additional income stream in their retirement years would help to make the years golden. They wouldn’t just have to get by on a small pension, social security and other retirement funds. They decided that they didn’t want to worry how they could pay for any long term medical care expenses or become a financial burden to their children. Plus, there was the added excitement of building a business in their later years when they would really have the time to pursue it.Many of the financial planners and advice givers tell you to save and invest in your 401K for the future. That is always good advice but if you lose your job every couple of years, then it is hard to consistently build up a solid retirement. You need to develop an income stream that you can depend on and is not affected by whether or not you have a real job in corporate America.Another reason, people join this industry is lack of satisfaction in their current profession. If you were to poll the average person in corporate America to see how much they like their job, you would find out more than 60% do not have a high level of job satisfaction. The sad part is that many of the individuals who do not report a high level of job satisfaction studied many years for their chosen profession. They may have chosen a specific profession because they felt pressured to pursue a certain career in order to make good money. When they were finally working in that profession, they realized that they weren’t happy and the job did not provide a high level of satisfaction.If you were ask them what their dream job was, they would tell you that it is something different than they are doing. Most individuals have their own secret dreams. Maybe they would much rather be working in the non-profit sector but they don’t pursue it because they need a good income to provide for the daily support needs of their family. They don’t have the freedom to take a lower salary because their family now has developed a certain standard of living. For the mast majority of individuals, they will never try to pursue their hopes and dreams. They will believe that they have to just settle for status quo of have a good paying job and living in a comfortable neighborhood. However, there is a small percentage of individuals when presented with network marketing jump at the chance to pursue building a downline in this industry.They realize that network marketing will provide them with the income that they need to pursue their real dreams and desires. In some cases, it is the wives who were stay at home moms that join a network marketing company and earn a great income that allows their husband to retire early from corporate America and pursue something that they would really enjoy doing. Network marketing is the industry that allows them to earn a great income without giving up their dreams.Everyone’s reason for join a network marketing company is going to vary. If, after doing the research on the industry-I highly recommend doing this-you decide that you want to join, find your why and constantly remind yourself of why you joined this industry. It will help carry you to the top.