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What is the MLM success rate for people who join? Who really succeeds, and what can you do to beat the odds? A recent report painted a pretty dismal picture, but is it accurate, or misleading propaganda from an industry skeptic? We decided to take a closer look at what the numbers really mean, and what you can do to ensure your own success. This video may even give you a new perspective on WHY I believe this is the best industry in the world.
MLM Success Rate
Recently, I was reviewing a paper published by a PhD called “The Abysmal Numbers of MLM.” This author focused on the success rate in network marketing, and said that 95% of everybody in network marketing quits, 5% break even, and 0.15% reach the top income level. He calls it abysmal.
Be aware that anyone can make a stat tell any story they want provided they hide or conceal or skew the definitions of the data they are evaluating. Oftentimes, shortcuts are taken to further a specific narrative or issue they are trying to push. But, if everyone is on the same page of what the definitions are and where the data is coming from, and the data is reliable and valid, then yes, there is a science to getting accurate data that would otherwise be misconstrued.
Math Does Not Choose Who if You’re Successful – You Do
So, let me get into this document a little bit. One of the statements that is said right at the very top is, “Just do the math. The numbers don’t lie.” Now do me a favor, and consider this concept: How does math, not a person, but math itself, decide if you are going to be a 95% person or a 5% person or a 0.15% person?
It may be that 95% of people quit their network marketing business, but I don’t think it’s a numbers game and math decides who is going to fail and who is going to be successful. What I would suggest to you is that our behavior and our education/training is what determines the outcome we have.
So this PhD said 95% quit, and 0.15% reached the top. If that’s true, it would be mathematically almost impossible for me to have reached the top twice. My network marketing company that I was with for almost 24 years bought my business back from me. Then I joined another one and reached the top income level. So how could I do it twice if it’s a mathematical certainty that only 0.15% reach the top?
It doesn’t make any sense to me. And also, just in the seven years I’ve been with the second company, there are now 57 millionaires on my team. That to me just doesn’t mathematically equate with what that PhD is saying.
My conclusion is that the only value of a statistic is to find out why a number is what it is, and what led to it. What are the sub-components that created the results? Math does not choose which side you are going to land on. You choose that. And it’s knowing the sub-components and being willing to learn how to do each of the sub-components. It’s not enough to just know it. You’ve got to do it.
MLM Success Rate
The Sub-components of Network Marketing
Any person who is in sales, who has had any kind of success (it doesn’t matter whether it’s network marketing or something else), does these steps, which I call the Prospect Pipeline:
- Generate leads
- Contact a person
- Set an appointment to see a presentation
- Give the presentation
- Follow up until you get a yes or no
That’s it.
That’s the game, and doing these sub-components equals customers and reps.
If somebody wants to make a seven-figure residual income, they have to get good at it. If you want to make $100,000 a year, you’re going to have to get good at it. If you want to make a few hundred dollars, well then, you could probably just keep drawing numbers out of a hat and it would eventually work. But if you’re going to really make a profession out of it then these steps are how you do it.
Elite Teams
I want to share with you how elite teams are built. Being in the Navy spec ops, I learned this well. Here’s the way it works, whether it’s a sports team or spec ops in the military:
First, as the leader, you know the sub-components, and then you put a team member in there and have them do some base-level number of them. Let’s say it’s push-ups for spec ops, and so the person is going to have to be able to do at least 50 push-ups to even join the team. There’s a bare minimum, but everybody’s got to meet that standard.
So in network marketing it would be:
Generate one lead Then contact that person. Set the appointment. Do the presentation. If you don’t get a presentation out of it, do this with a second lead. And I would keep on going until they get one person to see the presentation. And that would be the standard. And then I raise the standard. I say, “Now do four.”
You raise the standard, and by continuing to raise the standard, you create elite people. This is how you build a team.
My entire philosophy across the network marketing spectrum is that there is no such thing as a person who can’t do network marketing successfully. Only someone unwilling to learn and get great at each of these steps is someone who can’t do network marketing.
In summary, what I really was trying to get across to you is:
- Don’t do what quitters do.
- Do pay attention to the 99.53% who fail. None of that matters.
- Identify who is successful in network marketing. Get after them and earn the right for that person to train you.
- Find and learn the sub-components if they aren’t already known. If somebody is achieving success in network marketing, they probably know the sub-components.
- Master the sub-components
- Do the sub-components until your goal is attained
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