Today, many people are craving financial freedom and independence. Despite what they've been taught all their lives in school (to conform; do what others tell you to do, prepare for a 40-60 hour-per-week job), these "netpreneurs" are appearing online, "ready" (somewhat) and willing to build their marketing "empires."
Many netpreneurs are choosing to start a network marketing business, since you can begin this type of business without a large capital outlay. Sadly, though, a good percentage of these individuals have very little training in marketing, computers, or internet. And guess what? They’re losing their collective "shirt" in process!
Before "diving" head first into an online business, there are some important facts and trends to be aware of that can impact your success in network marketing. We will look at some of these rather formidable obstacles to your success, as well as several popular and effective strategies that flourishing networkers are now using to achieve long-term financial security.
GET THE FACTS FIRST! Over 96% of new business opportunities on internet will fail! In his book, Wave 4 - Network Marketing in 21st Century, Richard Poe tells it like this: "... A tough choice lies before you. Hundreds of companies vie for your attention, most of them start-ups. Among those start-ups, failure rate is high - over 96 % within first year ...." Less than 1% of all MLM distributors ever earn a profit!
In 1997, MLMSurvivor wrote, "Truth: for almost everyone who invests, MLM turns out to be a losing financial proposition. Less than 1 % of all MLM distributors ever earn a profit...!"
There has been a tremendous increase in number of network marketing opportunities presented on 'net, with more companies going into "pre-launch" every day. With all increased competition these companies create, MLM downlines are becoming smaller, and so are your chances for earning a profit!
Usually, 1% of distributors who become successful are people with exceptional sales skills, advertising skills, and ability to train and motivate others. Very few people are endowed with a combination of these special talents!
All too often, when people begin their online network marketing venture they are under capitalized. They underestimate cost of advertising and promoting their new business properly, especially in today’s highly competitive online environment. Profits often come too late to cover cost of monthly business expenses.
The sad fact remains that there is a frightfully small success rate in network marketing. The majority of distributors are left with nothing more then broken dreams and drained bank accounts. For many distributors, prospect of earning a profit online becomes highly doubtful, and internet becomes a risky environment viewed upon with skepticism and negativity. The only option now seems to be giving up!
BACK TO THE DREAM Remember original "dream" you were sold when you entered network marketing? A Guru or sharp salesperson described his or her company as utilizing "Synergy." He/she explained that he creates wealth for his distributors by combining three critical components: residual income, leveraging of time, and duplicatability.
Wow, sounds impressive, doesn't it? But considering barriers to success explained above, you can see how "synergy" of these 3 "critical elements" might fall far short for many people.
Residual income, leveraging of time, and duplication are three traditional components that can make network marketing a powerful business model. Indeed, they do sound effective, but they can be misleading, as evidenced by extremely high failure rate of MLM distributors.
Experienced networkers know this; they know that in today's fast paced, competitive, and complex online environment, a full repertoire of effective, innovative techniques is needed in order to build and maintain a lasting and profitable business. Let's take a look at five specific, innovative strategies that successful online network marketers are now using to help "BEAT Odds".
MARKETING GROUPS You may have filled-out a request form for one of these groups. They have catchy names like: Forever Free Leads Group, Prosperity Positions Group...Powerful Computer Money Group...Permanent Downline Universe Group... Infinite Money Online Group...etc.