Why 10% Of Entrepreneurs In MLM and Network Marketing Are Successful and You’re Not!

We have heard it over and over again. 90% of MLM and Network marketing entrepreneurs will fail in this industry within 3-6 months. O.K., that's great. However, what can you do to change that and become part of the 10%. What are we doing that you are not? There is one technique that we use right from the beginning that separates us. The technique is called developing a business plan. This step will save you from years of failure and frustration. Unfortunately, very few entrepreneurs getting involved in MLM, even online business have ever prepared one.

This is very ironic to me. If you were starting a traditional brick and mortar business would you also forego the business plan? Would you go and put a down payment on a lot and building for lease? Then go down to the local bank and borrow money for all of your equipment and building supplies needed for your business, before ever considering a business plan for this venture? No, you won't. 

The good news is, even if you would say, yes. None of the financial institutions in existence would ever lend you the money before seeing your business plan. A business plan says to a bank that you have full thought out and understand the magnitude of what you are about to do. It also shows the bank how the loan will be paid back and that you can repay it. Banks are not out to get you when they ask for these documents. These documents actually assure your own success. Banks are not stupid. If they feel you have a solid plan to success. They are going to help you, because they know if you are successful you may need more money to expand and grow in the future. Think of a business plan as a win, win for both sides. 

MLM's have been and will be around for a long time. You see it all over the internet, "get involved in this brand new opportunity" or "get in while you can, ground floor opportunity, space limited." Many people new and experienced have trouble cutting through all of the smoke and mirrors. 

Maybe it is the smoke and mirrors that confuses them into thinking they don't need a business plan. Maybe they feel since it is a home business, instead of a traditional business they don't have to. They feel it's less risky. It could also be because the start-up cost for a home business is nothing compared to a traditional one. They feel, they are not compromising themselves with long term financial commitments such as leases and loans? It could be they are hypnotized by how much others are earning and guess they are getting into a marketing model that makes duplication foolproof.

Now let's take it a step further. What if the Business Plan of the Network Marketing or MLM business you are considering is faulty? How are you to know? The company may not have a Business Plan. Or they do, but they're not proud of it. This is where you start thinking like a bank, because they want you to partner with them. 

When searching for an online business opportunity, whether MLM or Network Marketing, to get involved with. Ask the company if you can see their business plan. This will show you how infrequent they are. When you find a company that offers their business plan to you without you asking. That is a fair indication the company has a pride and security in what they are doing and it is being done right. This will be a company you can have success with! Here's to your success!