Network Marketing Myths DeBunked
Do you ever get a prospect belittling or downplaying the network marketing profession? As if, only soccer moms and people with “nothing else to do” would be a part of it?
How about the prospect that says “Well only the people at the top make money”?
Take heart…I have some ammo for you today 🙂
At Go Pro Recruiting Mastery, Eric Worre gave a “State of the Union” or “State of Network Marketing” speech on the first night that would get anyone of us excited because the numbers….were….huge!
Revenue in the Network Marketing Profession = $183 billion
Number of Companies in the Profession = less than 3000 (1400 in the US)
Number of People Involved Worldwide
in Network Marketing = 100 million (19 million US)
Commissions Paid Out in Network Marketing – Is It Only at The Top?
Eric took a survey and found that out of the $183 billion, 40% was being paid out in commissions, which is $72.8 billion.
That means EVERY DAY, $200 million is getting paid to people in our profession worldwide…WOW!!
So how much of that is at the top?
By his sources, he figures around 500 people earn over $1 million/year in network marketing and if you round that up to $2 million, it still is only 1.4% of $72.8 billion.
Then if you add 6 figure earners (which he had no way to quantify for that), you could even say maybe 10% are top earners.
That still leaves a whole lot of money for everyone else. And there are many people who just love their products and love hanging around the events. Why?
Because we have the BEST of the BEST involved in the network marketing profession, wouldn’t you agree? I love this environment!
Failure vs Success Rate in Network Marketing
Do you ever get asked “What’s the percentage of people that are successful in network marketing?” by your prospect?
Let’s compare our profession to a few others out there.
Our ratios are pretty much the same as a lot of other professions because of human nature.
90% of real estate agents get their license and NEVER SELL A HOME.
50% of small traditional businesses fail within their first 3 years.
Per the Chambers of Commerce, about 80% of new businesses fail within their first year.
Network Marketing? Our numbers are close to the realtors, about 90% will quit.
Why do people quit? Because they….just…do, whatever it is they start. That’s just how people are.
So the next time you get that skeptical prospect you’ll be armed and ready. You don’t want to throw up all these facts and figures, but you might want to ask them if they’ll be open to seeing a full picture of the profession. You could hand them a copy of Rise of the Entrepreneur, the DVD that Eric launched last year.
If they’re not even open to that, it’s best just say “sounds like it’s not for you, have a great day”. And move on, knowing that you have a GIFT to give the person that IS open and ready to change their life!
Did you enjoy these facts? Let me know by leaving a comment below and share with anyone who needs more “ammo”.
Also, feel free to share around on social media!
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