79,000,000 (yes million) Americans plan to start their OWN businesses in the next 3 years (Forbes Magazine) Donald Trump and Robert Kiyosaki BOTH say that if they had to do it all over again, they would build their fortunes in THIS industry. In fact in Trump and Kiyosaki's latest book "Why we want you to be rich." They dedicate an ENTIRE chapter to network marketing! (chapter 25) This is the only business opportunity model they wrote a WHOLE chapter on. BUT! Here are Facts about Network Marketing: -Less than 1 out of 1000 people in this industry will ever make 6-figures. -90% of all business WILL fail within their first 5 years (Entrepreneur Magazine) -Over 30, Million (yes million) Americans have either attempted Network Marketing or are currently involved in the industry. -Yet 90% make less than $10 a week. WHY! WHAT ARE THEY THINKING? Why does everyone think this is an industry of easy riches when the reality is that most are failing dismally? It's simple: Over 90% of the money in this industry is made by the COMPANY'S OWNERS and Trump, Buffet, and Kiyosaki know this! (Warren Buffet alone reportedly bought 7 network marketing companies in the last year!) Most of the entrepreneurs are lured to this industry by dreams of riches and a better lifestyle. Yet the VAST majority will fail. Unless you are joining a GROUP or TEAM that is REALLY going to show you the COMMON DENOMINATORS of their success, you are dead in the water. Most people don't realize that unless you are able to leverage the experience of the leaders on your team, you will go broke LONG before you ever make a substantial income. In the end the only people making the money in most companies are the owners themselves and a few people at the top. To succeed in this industry, you need to eliminate at least 90% of the learning curves and struggles that typically cause most people to fail. This is a very important part of NOT becoming yet another STATISTIC. Think about it! What are YOUR chances of success if YOU are able to solve every variable and leverage the success of every entrepreneur that went before you ? Got an idea on how ? Sincerely, Ingebjørg Huus
I would imagine that almost all our members (and most guests) wont identify with the USA statistics quoted. Might have been better to research and quote UK stats instead, to make them relevant to the primary audience of A1.
Ups, I went Online years ago... with my International business. Sorry about that, but in my world it doesn`t really matter where the statsistics come from because any country is my market. I thought there might be some people in this forum doing something simular...but here we go... here is some UK business news/statistics (Business Link) Over ten million Brits would love to leave their jobs and start up their own businesses, according to new research from Business Link. 35% of workers polled have given starting up some thought, and 20% reckon they'll make the leap in 2008. While 15% think of self employment as an option because they're not happy with their current employment, 37% admit that the main reason for taking the leap would be to earn more money. The research shows that 40% want to start a venture in order to gain more freedom, and 25% want to turn a current hobby into a real, paying business. All the best Ingebjørg
your post is about network marketing as are your stats in the original post, they are nothing to do with the start up stats you mention above. Only 3% of the UK population is self employed, so I very much doubt that 20% of 10 million people will be going s/e anytime soon.... and certainly not in 2008 seeing as there is less than a month left Personally I would take BL stats with a pinch of salt, having delivered sever million pounds worth of their start up contracts.
with the bleek headlines at the moment i think very few people are going to chuck in their jobs to go self employed but then again the large numbers of job losses is going to force a certain percentage into being self employed - its still a long shot
Could agree with you more However.... I do both which is very helpful. I am building up my MLM business in utilities whilst working at a day job. I know that with the constant hard work I am putting into both that I will have a good second income to see me into retirment and that will allow me to do the things that i want to do and not worry about the pennies. I must say that my MLM business is awesome in that the company offers the most amazing training package and mentorship, that I did not experience with 2 other MLM's. It isn't everyones cup of tea and it certainly is not a get rich qick scheme but is providing me with a steady monthly income that is growing month by month. Best wishes and good luck with all our businesses Avril :001_smile:
hi avril, you have the best approach. a lay your foundations plan and then build on it. too many me included when i was younger chased the money rather than seeing it as a business and lifestyle changing factor. once you get that steady monthly income you can expand and decide to give up your day job. very sensible. regards stephen doyle
Ouch - surely this can't be true. I have been involved in a couple of MLM now and I think it is all down to finding the right opportunity for you. The last MLM I was involved in I wasn't very motivated nor 100% sure about the products so it didn't work. However, my most recent venture I feel very passionately about and therefore I'm willing to put the time in, so hopefully it will be successful. However, I think people tend to think that MLM opportunities will bring you mega bucks for little work. This is not the case, you rarely get something for nothing.
MLM is no different to normal business, we have to have a passion for the scheme we are in. We need focus, commitment, determination and a burning desire to succeed. If we are hoping for success in our MLM business and don't yet posses these qualities we either need to develop them fast or get out and find a product or company we are passionate about. I also believe MLM is a leveller, if people are making money and I'm not, there has to be a reason. If I have the same products, same company and same compensation plan, it has to be something I am doing wrong. Thats why they say find someone who is making money and do what they do, this can be difficult depending on your up-line.
Hi, since we just started business in the UK i`m not telling you something from the UK. Yet with MLM it is the same everythere, since MLM works the same everythere. We did set up a company about ten years ago in Germany and start now the business in the UK. Our products are outstanding as every product in the MLM industry. But the most important thing for everybody involved in MLM is the effort. without effort you are not gaining anything. So look for the rigth company, find the rigth products and than just hold on to that. As I said time and efford will tell Rottgar
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