When looking into multi-level marketing, I have discovered two harsh truths:
- A lot of MLMs fail.
- Most people who join MLMs fail-even when the MLM is a highly-successful one.
Yet despite those harsh truths, there are successful MLMs out there with successful people reaping the benefits of being a part of them.
Let’s think about it for a moment. The truth is we all face a certain amount of failure. I aspire to be a great novelist, and here I am, writing this. Perhaps you want to be a professional athlete, a successful musician, the CEO. When achieved, these aspirations come with great reward; but a certain amount of failure is inevitable. It’s called life.
But does mean we shouldn’t try? What if we are one of the ones who will succeed? To dismiss MLMs simply because there is risk is to dismiss much that we aspire to in life. That being said, there are reasons MLMs fail and, if we are to consider them as a career-choice, we need to acknowledge those reasons. Here are five:
Unsustainable Product: An MLM program is only as good as the product it supports. If that product is not one that will command long-term demand, then the MLM will fail.
Poor Training: A successful MLM is committed to training their distributors at every level. This means, from the day a person signs on until the day they retire or move on to other things, they are constantly exposed to information that will help them become better at what they are doing.
Promise of Get Rich Quick: Being a success at multi-level marketing takes time and effort. You must be committed, disciplined, and willing to survive through tougher times. Only in fiction novels does the mailroom clerk become CEO in less than a week.
Too Close for Comfort: It is true; most MLMs will tell you to make a list of people you know in order to get you started. But relying on friends and family as customer base is a sure recipe for failure-and one very lonely distributor.
The Towel: Just like at the office, there will be those days and those tasks that make you want to quit; and far too often, people do just that.
MLMs are not a get-rich-quick scheme nor are they a gateway to a trouble-free working life. By recognizing that truth, you’ve won half of the battle.
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