Why Quitting Your MLM Business Will Cost You Millions

They say you can't win if you quit while you're ahead. Those words that encourage plenty of people to, well, not throw in the towel. When someone doesn't like their job, they're more or less considering quitting. They don't have to quit, though.

 

Quitting your MLM can cost you millionsMLM Network Marketing: feasible or not?

 

Multi-level marketing is perhaps one of the fastest growing industries within the last few years due to the economy.  People are losing jobs left and right, with no other alternative.  Many are looking at Network Marketing as a median of generating an income to support their families.

 

The MLM business model allows the average person with no prior or specialized training and experience, to come in and leverage a system and have immediate success.

 

According to the Direct Selling Association, the ‘total direct selling revenues' for MLM businesses grew by 7.1 percent between the years 1993 and 2003. These statistics were mainly driven by MLM companies with great leadership.

 

Now, let's get into why people quit the business.  The fact of the matter is that 4 out of 5 businesses fail within their first year.  While 3 out of 5 fail within the first 3 years. It's pretty easy to see why a lot of people quit.   Just like any other business, MLM is no different.

 

People who are involved in MLM Network Marketing for the first time should not quit.  Especially when they have already invested time and money into their MLM business. If they quit now, they may potentially cost themselves millions.

 

Make Yourself UncomfortableAnyone that comes into the MLM Network Marketing arena has the potential to make 6 or 7 figures within a few years. Not everyone is cut out for this type of business.  Some will harbor and persevere and take their MLM business all the way to the top.

 

Most home based business owners, however, don't tap into that potential.  As part of the MLM Network Marketing business model, part of what it takes to succeed is to recruit and share the products. At the same time, leverage their efforts off of the people in their organization.

 

They say that within the first year of growing a large organization, at least 50 percent of the reps will drop-out. Within five years, around 90 percent will have potentially left the company or quit the MLM business all together. By the ten year mark, less than five percent of the people are sticking around and earning it out.  In case you didn't catch it, it is a numbers game.

 

Without the combined efforts between you and your organization, true time freedom will not be an option.  That is why it's important to work together as a team.

 

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Promoting a sense of solidarity between yourself and your team will have the potential to take your MLM business to the next level. So, don't quit, don't be afraid, just go out there and have fun!

 

Now it's your turn, have you experienced people that have come into your MLM business and quit before they have reached their potential?  I would love to hear your comments and I look forward to reading them!

 

 

To your Success,


Nate Leung


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Nate Leung

Nate Leung

CEO & Founder @ NateLeung.com at NateLeung.com
Nate Leung is the CEO and Founder of NateLeung.com, and author of "Virtual Entrepreneur: Live Free With the Business of Your Dreams". Nate specializes in helping people take their passion, knowledge, and expertise and bring it to life. You can find out more from Nate by connecting with him over at Google +. If you're struggling and or looking for help, contact Nate here.
Nate Leung
Nate Leung

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17 Responses to “Why Quitting Your MLM Business Will Cost You Millions”

  1. Darren Spruyt

    Hey Nate!

    Most people quit too soon. That’s all that needs to be said.

    I was reading “Think and Grow Rich” (Yes, I have finally picked it up) and I was reading through one of the stories where the dude (can’t remember his name) missed earning a fortune in gold by 3 feet.

    All he had to do was shift the drill by 3 feet from where he had stopped and he would have made his fortune for the rest of his life.

    Likewise, most people quit too soon in network marketing. They don’t see any results, or they are not earning the “big bucks” yet. So, they become impatient and blame the industry for not giving them the success that they want.

    The truth about being in the MLM industry is that it takes time, and the effort we put in snowballs. At first, you don’t see much of it, but after some pushing, the snowball begins to roll on its own and it becomes dangerous.

    So, like a snowball, you gotta keep pushing until you are a force to be reckoned with in this industry.

    Thanks for sharing this post Nate! 🙂

    [Reply]

  2. Adam Payne

    Hi Nate. Another great post.

    I think folk quit as they have the wrong mindset from day 1. It’s a business and one shouldn’t expect amazing success from day 1. Gotta work at it, but the rewards are huge…IF you don’t quit.

    Adam

    [Reply]

    Nate Leung Reply:

    Exactly, don’t quit! Thanks for the comments Adam!

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  3. Katrina

    This is great, as always, Nate! I used to be one of those people. Something was said in Chicago that really hit home… you have to DECIDE that this business is part of your life… not just test it out. That’s when it hit home for me!

    [Reply]

    Nate Leung Reply:

    Hey Katrina!

    That is an awesome nugget. It’s very true. You have to be passionate but it does have to be an integral part of your life. Thanks for sharing that with me, Katrina!

    [Reply]

  4. Etieno Etuk

    Awesome post, Nate. MLM or network marketing is one of the few industries where team work plays a vital role towards the achievement of success. If you’re able to play the team work game well, you’ll have a lot of people that will stick with the business over time because they’ll be drawn to the associations that have been formed.

    You’re absolutely right. This is business is a numbers game. This is why we should always be recruiting and not stop. The moment you stop recruiting new people, your business starts to move backwards. New people are the lifeblood of any organization.

    Thanks for sharing!

    [Reply]

    Nate Leung Reply:

    Exactly Etieno! Recruiting is the main component of the MLM Network Marketing business model. You stop recruiting, your business starts to die. Thanks for the comments!

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  5. Stefani McCune

    Excellent advice Nate! Keep on keeping on!!!

    [Reply]

    Nate Leung Reply:

    You’re welcome Stefani. Glad you got value! 🙂

    [Reply]

  6. Ryan Biddulph

    This is one of the true MLM tragedies Nate. People quit before becoming wealthy. I always made a blanket decision to persist no matter what, until I reach each and every one of my goals. So far, so good 😉

    Thanks dude, powerful reminder here!

    Ryan

    [Reply]

    Nate Leung Reply:

    Thanks for the feedback Ryan!

    [Reply]

  7. Bill Garner

    Great post Nate. There is a person right above me in my organization who quit a month after she got started. Her downline would have hundreds of people in it now if she had stayed. I would hate to be her. People quit for a variety of reasons, but in my experience, I have discovered that most people quit because they don’t have the intestinal fortitude to navigate the ups and downs of network marketing. Our microwave society has conditioned people into an instant gratification mindset. It’s so sad too because our industry provides people with great products, great culture, and great personal development. We offer a way out of the corporate indentured servitude world, and yet so many would rather choose the path of least resistance. As leaders, we have to grasp the understanding that we can lead a horse to water but we can’t make him/her drink. Instead of waiting by the water waiting for that horse to drink, I am choosing to get out there on the trails and run with the real horses.

    To your success!

    Bill Garner
    Founder MLM Mastermind Online

    [Reply]

    Nate Leung Reply:

    Hey Bill!

    I agree with you in terms of why people quit. Most people come in, do not treat it like a real business. Most will not do what is required to become successful. Like you said about how many of us are conditioned to not step outside of our comfort zone. MLM is a vehicle that can help so many people will admit that they hate their job, they hate how their live is going. Yet, when the opportunity comes, they pass on it. It is a very sad reality. As ambassadors for the MLM Network Marketing profession, you and I will live a happier life. What we offer those who reject our ideas will have to live their own life while we live ours. Thanks for the awesome comments!

    [Reply]

  8. Matt Insardi

    Never Give UP!! Want to be successful?… Get Started And Don’t Quit.

    [Reply]

    Nate Leung Reply:

    Well said, Matt. Thanks for the feedback!

    [Reply]