Mlm Statistics: Why You Aren't A Millionaire Yet
You know about these, right? The less than encouraging statistics about the MLM industry
. . .? It's too bad that the most famous MLM statistics are negative.
Some are true and some aren't. But most hear only the negative. And that's what they talk about. These will come up too just in case you haven't actually seen this data. But this article will also surprise you perhaps with some positive MLM statistics, the ones that aren't famous or talked about. . .except in circles of successful network marketers.
Let's start out with the number one of all MLM statistics...the failure rate for network marketing is estimated to be anywhere from 97 - 99%.
Yes, that happens to be true and the reasons for it thus far are 1) those who enter the business aren't given the right information upfront by their sponsors 2) those who enter the business cannot afford to put in the money and/or time necessary to achieve what they would like.
And just a quick clarification, you don't necessarily need to be pouring tons of money into your network marketing business to start getting more customers and team members.
But you do need to put in consistent time and effort. You don't need to put in 40 hours a week (phew!), but you DO need to be consistent with the 10 hours that you put in.
The majority of people who join an MLM are told that they don't need any skills or experience. When it doesn't work out that way. . .they drop out (usually within the first year) and contribute to the 99% failure rate.
So let me give you a general idea of what you do need to be doing to profit in network marketing. Here are some MLM statistics from my network marketing company. These show the relationship between how many people need to be sponsored in order to get the corresponding annual salary.
Sponsor 10 people = $2,796 annual income
Sponsor 20 people = $11,223 annual income
Sponsor 40 people = $16,311 annual income
Sponsor 60 people = $22,028 annual income
Sponsor 125 people = $41,192 annual income
Sponsor 250 people = $59,074 annual income
Sponsor 375 people = $69,375 annual income
Sponsor 500 people = $105,591 annual income
Sponsor 750 people = $120,636 annual income
Sponsor 1,000 people = $235,419 annual income
Sponsor 2,500 people = $563,000 annual income
Obviously, the numbers will vary from MLM to MLM, but one thing is for sure. . .you will not become a millionaire by sponsoring 3 people.
Are you aware of these numbers as they apply to your company? And are you currently following a plan that will get you to where you want to be? Some may find this kind of information intimidating. I see it as something to set goals around.
And now for a breath of fresh air. . .a few MLM statistics that focus on the upside of the industry!
Did you know that more than 56 million people are running MLM businesses in over 100 countries around the world 13.3 million people in the US alone)?
In 2008, network marketing companies earned over $100 billion in sales.
About 80 percent of network marketers are women.
This is one of my personal all-time favorite MLM statistics. . .
The global MLM industry has grown by an astounding 90 percent in the last ten years.
What other industries are growing at that rate? Do you wonder why network marketing, which holds such a bad reputation, is seeing that much growth?
It's because people are tired of working for someone else. They are tired of working harder and longer hours and getting paid less. They are tired of not being able to spend time with their families.
And their financial burdens prevent them doing the things they would like to do during their time with their families. They are looking for a way to start their own businesses without investing huge amounts of cash or keeping inventory. They are looking for a team and ready-made resources that can help them grow their businesses. They are looking for residual income. . . a way to earn in the future off of today's efforts.
They are looking for the solutions to these problems and they are finding them in network marketing.
Those are the MLM statistics that I see every day. What MLM statistics do you see?
by: Laura A Shapiro
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