Is there such a thing as instant success in network marketing? The answer to that question really depends on what you define success to be. However, monetarily speaking, it is rare for a person who has never succeeded in network marketing before to instantly step into a new company and become rich in his or her first year. However money can be made quickly, even if it is $500 a month.
Newbies to network marketing often think they will be making six figures in their first year because the person who sponsored them gave them false expectations. The truth of the matter is, the people who make six figures annually or more in network marketing treat their business as a career, while most people treat their networking business as a hobby. Careers make you money, hobbies cost you money.
I was recently passed on some interesting statistics about network marketing from a company that trains IBOs and distributors of many companies:
- First Year Retention: one of the key factors in team building is first year retention. Did you know that 85% of all distributors who renew at the end of their first year stay in business for an average of 8 years?
- 100K Earners: another interesting fact is that about 20% to 30% of all distributors who work their business 40 hours a week or more earn over 100K a year.
Whether or not you believe you can become rich in network marketing, there is obviously many people who succeed at high levels in network marketing and there are many more who fail or quit. This is true in every profession, but networking seems to get an unfair reputation compared to other professions. What I hope to achieve with my Network Marketing Success Answers is to give you the information and training that you need to be a member of the success group and not the group of those who have failed at network marketing.
Stay tuned for more information and be sure to send me questions and comments as we go.
Dedicated to your success,