Are you thinking about quitting your network marketing business? There are many reasons why you may feel like giving up.
If you’ve been at it for a while and not making money with network marketing, you may be discouraged and want to just quit MLM.
It’s been said that 97% of network marketers don’t ever break even.
That’s a very dismal statistic – if it were true!
That number doesn’t break out the percentage of distributors who were actually working the business from those who just want the wholesale discount.
This article will help you understand why people quit MLM and how you can avoid being one of them.
What is Network Marketing?
Network marketing is a business model where networks of people serve as marketers of products and services and recruit others to build their own sales force team. MLM home businesses feature a low startup investment and low monthly overhead, making it appealing to anyone who wants to own a business.
Each distributor of the company can earn income in a number of ways, including:
- Product sales commissions
- Percentage of sales volume of people on your team
- Bonuses based on team performance
Each MLM company has their own compensation plan for how to earn and what type of payouts you can expect.
Does MLM Really Work?
With an average work from home income of $59,250 per year, I would say that MLM really works!
Couple that with the fact that most network marketing companies provide you with comprehensive training, tools to help you succeed, and cool rewards like trips!
Some distributors make millions of dollars a year. They don’t quit MLM! If people are making lots of money, that means that MLM really works!
When you join a network marketing business, it’s up to as to whether you make it work or not. The people at the top are working extremely hard to make MLM work for them.
The people who are not make money in network marketing are either doing it wrong, not putting in the effort, or mostly got in for the wholesale products.
Should You Leave Your MLM Business?
Before deciding to quit MLM, dig deep into your reasoning why you should either stay or go. What I love about network marketing is that it is always up to YOU! Not an employer or anyone else. Just YOU.
You get to be in control of your life and future.
Eric Worre said, “But if your dream is strong enough, there will always be a reason to stay.”
These 5 reasons will help you decide if you really should quit network marketing.
Reason 1 to Quit MLM – Fear of What Other People Will Say
When you join an MLM, other people may not approve. Especially your family!
In that situation, if you try to talk to them about your business, you probably get a dry mouth and sweaty palms worried about what they might say.
Your self-confidence dwindles and you suddenly start asking yourself why you are in network marketing to begin with!
What to do instead: Many times, fearing what others think has to do with your own belief system. If it’s not strong, your self-confidence can wither away.
First, recognize this and then give yourself a high five! Taking your career into your own hands is a huge accomplishment for anyone. You deserve some credit for making the best decision of your life.
Next, work on your personal development. We are not born with success skills. That’s something we have to develop. Spend at least 15 minutes a day listening to or reading self-development materials.
Now, I don’t mean self-help for goodness sakes!
It is about developing your capability and potential, and boosting your self-confidence to overcome your fears.
If you spend any amount of time in your car, use audio CDs to turn that time into personal development.
Reason 2 to Quit MLM – You Don’t Know what to Do
Maybe your sponsor didn’t help you and you feel overwhelmed. You feel that since they recruited you into the company, they should be spending all their time training you.
Because of that, you are pissed off, have a negative attitude and don’t know what to do.
What to do instead. Think of your network marketing business as your own small company. Why? Because that’s what it is.
Your sponsor is not actually responsible for you. YOU ARE.
In fact, Eric Worre advises to say goodbye to your upline! Makes total sense.
You don’t work for an employer who will tell you what to do. Remember, you started your own business.
There are plenty of resources available from your company that train you on:
- Business opportunity
- How to conduct business
- And much more.
Dig into those resources and start training yourself on how to be successful in your business. You would be surprised at how many network marketing rockstars had sponsors that were not the least bit helpful.
BUT…they still make it to the top! Because they were unstoppable and resourceful.
Reason 3 to Quit MLM – You Don’t Believe in the Products
Do you feel uncomfortable sharing that health shake with people because you don’t even like it? Maybe you just want the money and don’t even believe the products work!
I’ve met people like that!
Have you met that guy who sells skincare products but doesn’t use any? Why would I buy from him?
I get that you are in network marketing to make money but you also have to believe in the MLM products you are selling.
What to do instead. If you don’t like the products of your company, perhaps that is reason enough to quit your MLM company and find one that you do like.
There are plenty of network marketing companies that sell a wide variety of products. Start researching one that you can believe in and stand behind.
I spent nearly a year exploring different companies and products before I found one that I truly believed in.
Quitting MLM is a good idea if you lack belief and passion, but it may be a matter of finding another company whose products you do believe in.
Reason 4 to Quit MLM – You Expected to Make a Ton of Money Right Away
You may feel disappointed that you didn’t make big money in your first 3 months of your business. Maybe you had this enormous expectation and feel so let down, all you can think of is quitting.
Did you have solid information on what you should be making in such a short amount of time or was it wishful thinking?
Perhaps you feel like since you are not making nearly what you thought you would, you need just quit and stop wasting your time.
What to do instead. Change your expectation to something more realistic.
Network marketing is a long-term strategy.
I like to think of it as a 3 to 7 year plan. It takes time to build your team, keep your team, and develop a sustainable business that pays you for a long time.
Be realistic about what you can earn going forward. Network marketing is an amazing business model that has produced more millionaires than other industries. If you want to be one of them, don’t quit MLM!
Reason 5 to Quit MLM – Your Monthly Autoship is Too Expensive
Autoship in network marketing is one of the key residual income streams. It’s also how distributors use the products on a regular basis so they can make recommendations about it.
If you aren’t making money right now in MLM, you may feel like the autoship each month cost too much money and you want to stop it.
If you do, you may as well not be in business. How can you tell someone to use a product that you aren’t even using?
What to do instead. There is no network marketing without investment. That applies to every aspect of your business including your autoship. Every business has some type of investment and in MLM, It’s a small one.
If I invest in something, I work very hard to make sure I make back my investment and then some!
You should too!
Deciding to leave your MLM business is a tough decision. But only you can make it.
Don’t quit before you give network marketing a chance by learning the skills you need, working on your personal development, and setting realistic expectations.
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