Why Most MLM Distributors Fail – Overcoming Some Common Challenges
We’ve seen statistics that say as high as 97% of MLM Distributors will fail. In reality, most quit short of their goals, and could have continued with a few adjustments and some good coaching.
But in life, it is a fact that a high percentage of people will fail in most everything they try. The real winners are the ones that pick themselves up and try again. In inventing the light bulb, Thomas Edison needed to “fail” over 10,000 times. He believed there was no failure, only feedback.
However, there are some things that a new MLM Distributor and his or her sponsor should keep in mind and some things that need to be acomplished to minimize the inevitable failures. Here are a few:
- Select the right company in the first place. Countless distributors have been “sold” on the latest and greatest product, company, and or MLM superhero only to be let down by business troubles in the company they so carefully selected. Corey Augenstein, creator of MLMInsider.com, and a student of the industry has recently stated that of the universe of hundreds of MLM companies, only about 30 could be even considered for his annual “best companies” review.
- Get the right training and mentors. Training in this industry should not be conducted by “experts” who have never been successful themselves. Look to trainers and mentors who have a great track record and string of accomplishments.
- Get serious about personal development. The MLM industry can be challenging for some, if not most individuals. Nearly everyone in the industry needs to “adjust their thinking” in several ways and get clear about their own belief systems. Most prevalent is the “employee mindset,” in which most distributors and their friends/family have been well endoctrinated. How many new distributors’ dreams have been smashed by well-meaning friends and family giving the advice to: “get a real job,” or “that will never work?”
- Get a system. It is very important to have a systemmatic approach to any business. What are some tools used by others to drive their success? Find out and lay hold of the best tools and systems that are available.
- Don’t listen to what the MLM company preaches (or at least with a grain of salt). Recently we heard advice from a major company to be “well armed” with some recent company accomplishments and dressed with the latest logo gear during holiday get-togethers with family. Personally, we have encountered too many times when this type of “in your face” approach has back-fired. We suggest a low-key, low-profile approach, as taught by sales pro, Tom Hopkins. This is especially true with friends and family, who really don’t want to be your “prospects” during holiday and family times.
Perserverance is vital to success in MLM (or any venture for that matter), But in order to increase your odds of success, follow these few suggestions with a healthy “no quitting” attitude and your chances will improve dramatically. Visit our training entry page for additional ideas, free training, additional information and a test drive the leading automated MLM lead generation system.