Chances Of Failure In MLM Network Marketing
Before you start any business, whether it is MLM or traditional, you will naturally think about what the chances of success are in that business. Of course, nobody in their right mind wants to invest time and money into a business if it’s just going to fail.
When talking to people about getting started in an MLM Network Marketing business, there are, of course, several concerns that come up. The biggest concern, however, expressed by many people in one way or the other is that whether or not they can really succeed in an MLM home business and what their chances are of losing their investment.
From my personal experience, I can tell you this much that the rate of failure in a Multi-Level Marketing or MLM business is about the same as the failure of a regular brick and mortar business. The main difference, however, is that since the investment to get involved in an MLM home business is much much less than a traditional business, we see two things:
A) More people get started in some sort of home based business vs. a traditional business and B) People are generally far less invested in an MLM home based business and therefore don’t take it as seriously as they need to succeed.
I really believe that the small start-up cost in MLM is the greatest benefit and, quite unfortunately, the biggest negative at the same time. It’s fantastic that folks who don’t have large amounts of money to put into a business can get started in their own home business for very little (usually a couple of hundred dollars) and have the opportunity to succeed. It’s a negative for that same reason. People tend to work less hard, don’t take the necessary time to train themselves and take the business so much less seriously because it did not cost them much and it was easy to get started in. They fail to put a real value to the business. Many people think that very little is at stake, when in actuality, too much is at stake, and it’s not only your money that’s at stake, but it is your time and your very freedom that’s at stake! Your time and freedom is way more valuable than your investment of money.
I can’t emphasize this enough, out of all the people who want to work from home in an MLM business, the people who are successful are the people who treat their MLM home based business like a REAL business (because that is exactly what it is) and the people who fail are the ones who treat it like a hobby or a little get rich quick scheme and who fail to realize the value of their MLM home business.
So what is the bottom line? If you are willing to take your MLM home based business seriously, and work it just like you would work a business that you had to invest a significant amount of money in, your chances of failure are very, very slim.