Have you ever started out in one company and after 3 months or maybe a bit longer, decided it’s not for you, that you can make your money elsewhere. Where the compensation plan is more lucrative, or the products are phenomenal, or because lots of top marketers are heading towards company x?
I have been guilty of jumping from company to company, but I must admit not until after I have given it a good try – maybe staying 18 – 24 months minimum. But is that really enough time for you to make a judgement of whether you will do well with that company, or whether you will ever be able to make a six or seven figure income?
Statistics have shown that only 3% of people who start an MLM or network marketing business succeed, that means a whopping 97% of those who start a network marketing business FAIL or give up. And here is the thing, of those 3% that succeed only 1% go on to make a seven figure income.
That is some pretty scary statistics right! This is what most network marketing companies like to throw out there.
If you look at those seven figure income earners, you will note that they seem to hang around with their company for 5 – 7 years. Do you think that is telling you something?
Let’s face it, if you look at the conventional career ladder, how long do you think you would have to work your way up there before you started earning a six figure income, let alone a seven figure one? 15 – 25 years?
Why then, do most network marketers get disillusioned within 12 – 24 months if not sooner?
It could be that there are so many opportunities out there playing on peoples emotions that they can ‘get rich quick’ or that they can ‘make a 6 figure income’ in no time at all.
Let’s get this straight – it takes 12 – 18 months to learn your new business opportunity, then another 24months or so perfecting your pitch, so that is almost 3.5 years right, then once you get your pitch right your team seems to grow, this may take another 2 years to grow and build your business, so all in all that’s 5 years off the bat. It may take another 2/3 years to build a consistent six figure or seven figure income with the same company. So all in all 5 – 7 years to make a regular 6 or 7 figure income, is more realistic deal than 3 – 6 months or even a year.
All in all, I think that 5 – 7 years is a pretty good timeline. I worked for 34 years in corporate UK and never made anywhere near a 6 figure, let along a 7 figure a year income. So if we set people’s expectations right, when they first come into your business, that it may take 5 – 7 years of hard work and consistent effort, based on them taking daily action, do you think you may retain them for longer?
If someone in is your home business to ‘get rich quick’ then you know they will not be hanging around for long.
Sticking to one company that fits with your ethics, is more likely to help you succeed along the way, as you will go all out to promote and get creative and succeed that sticking to a company that you can’t identify with their products or company message but hope to make money one day from it. This is not a good fit at all. Why? Because if you are not all in 100% with a company, then neither will the people you bring in. Your team will ultimately watch what you do, and if they lose confidence in you because you appear to be hopping over to the ‘next best thing’, then your trust in the marketing world will have been seriously damaged.
These are just my opinions and you are entitled to yours, if you found this article interesting, please give it some love and share / like and leave a comment below 🙂