Why do 97% of Network Marketing Business Opportunities Fail?
Why do 97% of Network Marketing Business Opportunities Fail?
Why do 97 of Network Marketing Business Opportunities Fail - To learn more about this author, visit Tom Jordan's Website.
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Why do 97% of Network Marketing Business Opportunities Fail?
Network marketing can be a great way to make a living. It allows one to have tremendous freedom in their daily life as well as showing others the opportunity to take control of theirs.
But why do 97% of network marketers fail to get the job done and therefore 97% of all network marketing business opportunities fail for one or all of the following reasons:
1. Using marketing methods that don't work.
Most network marketing business opportunities instruct their new members to chase down friends and family. Big mistake! This outdated marketing tactic does not work anymore. You will do harm to yourself by alienating these people in the long run. Rejection, is part of the game in any form of selling but also getting it from friends and family is twice as brutal. Your new endeavor should be enjoyable so it can continue during some hard times.
2. Product that are saturated.
Another reason 97% of network marketing opportunities fail is too many companies are selling the same products. While this will tell you it is a good market and profitable, the beining member will have a tough road ahead.
3. Too complicated commission schedule.
The main reason entrepreneurs or new members get involved in a network marketing business opportunity is to make more money. The promise of the residual income stream is very enticing but can be complicated to explain. Selling a product is hard enough. If it is more complicated to explain the opportunity, one is headed for dissapointment. If it is hard for you to explain and understand don't get involved.
Network marketing is about duplication. If you can't duplicate yourself and business it won't succeed. Again, I go back to enjoyment in your new business. When the reality of one has to work for the rewards it is better to have fun than to be a chore.
4. The company one chooses.
I believe this is one area the beginning marketer often over looks when making a desicion about a new opportunity. This is where the due diligence is crucial. You do not want the company going out of business in 8 months after you have worked so hard to build your business. Understand who is running the ship.
While 97% of all network marketing business opportunities fail, 3% succeed.These 3% leaders are the ones you should look to. They have persevered in the jungle and understand what it means to succeed. We should always try to model after them. Remember it is duplication that breeds success in this business.
My next article will be on what it takes to be a 3% leader.
Why do 97 of Network Marketing Business Opportunities Fail - To learn more about this author, visit Tom Jordan's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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