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Bit By The Mlm Bug: Is There A Cure?
By Dan Hatfield
Perhaps you’ve experienced this yourself or did at one time. If you’re currently involved with MLM/Network Marketing there’s a 97% chance that you’re not making a profit as you read this article. This is not a jab at the MLM industry, but rather a discussion on the core reason why people stay in for sometimes decades with no success. There are various reasons for this stunning statistic, but what is more stunning is the fact that so many people continue on investing time and money despite the tremendous failure rate. Why is this? I’ve found this phenomenon best described as “being bit by the MLM Bug.”
This best describes the masses of people who continue on in MLM even though they have no actionable plans to enhance their current success. It is fueled by “ever-existent hope” that someday the business will take off, they’ll get lucky, or they’ll eventually figure it out. They don’t want to give up on the dream that mlm builds so they stick with it. And what other perceived potential hope can one hold onto where the payoff outweighs the cost so significantly in the
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mind of the marketer?
How do you know if you’ve been bitten by the MLM Bug? Check yourself for the following symptoms:
• Continuously pouring cash into your business thinking that persistent and greater investment alone will increase the chances of the magic pay day.
• Moving from company to company, constantly seeking out the greener grass or breakthrough product that “everyone” will need.
• Going in and out of involvement in your business believing that “now” will be the right time.
• Add to the list as you see fit.
So what’s the cure to the MLM Bug Bite? Basically, it comes down to sustainable motivation, consistent action and the right action tied in with proper training. In short, doing what works and what’s proven to work through market tested and proven strategies. Most MLMer’s don’t realize that if they’re using strategies that are not market tested, then they are the market test. As a result of not taking the right actions they become frustrated with results, but still don’t want to give up on the dream that’s injected by the MLM Bug Bite.
Dan Hatfield is the co-founder of Power Filter Page and author of the Free Newsletter, “MLM Promoting Tips.” Power Filter Page is a prospect filtering tool for network marketers allowing them to increase profits, leverage time, and see success in their businesses. To subscribe for Free to the MLM Promoting Tips Newsletter and claim your Free Report, "Secrets of Effective Network Marketing," go here now www.mlmLeadProfits.com. |
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GAO Finds Little Help To Understand Rules
Back in 1996, Congress passed a law designed to force federal agencies to give a hand to small businesses when the agencies impose new rules that have a serious impact on those businesses.
New Number, Fewer Answers at IRS
For the past month or so, budding entrepreneurs report that it has been all but impossible to reach the Internal Revenue Service to obtain an employer identification number (EIN), without which it's impossible to open a business bank account, get health insurance, or even deposit or pay taxes properly.
Payroll Taxes Are Extended to Cover Certain Options
Stock options continue to spring new tax traps.
IRS Lets Some Larger Businesses Switch to Cash Accounting
In an announcement that was celebrated by small-business groups, the Internal Revenue Service said last week that it would allow many more businesses to use cash accounting.
A Longtime Friendship Is on 'Hold' Over Bill
Republicans and small business are normally the best of friends. Both want low taxes and small government.
Payroll Tax Arguments The IRS Won't Buy
Taxes, and the avoidance of them, continue not surprisingly to be a topic of great interest among owners of small businesses.
Rules, Rules. And Big Business Thought It Had It Bad
American businesses large and small complain loud and long about the costs associated with all the various rules imposed upon them, especially those laid on by the federal government.
An SBA Advantage On Arlington's Border
Accidents of geography continue to produce oddities and ironies in the wake of the Sept. 11 terrorist attack. The latest: Small businesses in Montgomery County are eligible for special Small Business Administration economic injury disaster loans because of the attack on the Pentagon, but those in Prince George's are not.
Firms Closed by Attacks Seek Uncharted Coverage
Small businesses and their insurers are venturing into uncharted territory in the wake of the terrorist attacks on New York and the Pentagon.
Low Default Rate on Loans Puts Money in Bank for U.S.
Many owners of small businesses were able to take a grim satisfaction in the recent federal budget surplus, knowing that their taxes played a part in building it.
Medical Savings Accounts: An Answer to Health Costs?
As health care costs resume their seemingly inexorable climb, the latest buzzwords making the rounds of employers are "defined contribution health benefits."
Firms Seek Fairness On Competitive Bids
One of the enduring complaints of small businesses concerns their inability to get what they regard as their fair share of government contracts and grants.
Bush Tax Cuts Not Targeting Small Business
Small-business owners should not expect the Bush administration to press for tax breaks and other benefits "targeted" at them, the head of the president's Council of Economic Advisers warned last week.
IRS to Take a Closer Look At the Jobs of Consultants
Thanks to layoffs, the growth of entrepreneurship and other socioeconomic developments, pleasant and unpleasant, the number of people hanging out shingles as consultants is going up sharply.
Retirement Plans Get More Attractive
Pensions and retirement savings have been a long-standing source of tension between small-business owners and the government.
Change in Management On Senate Committee
The change in control of the Senate means a change in direction for the chamber's Small Business Committee as well.
Risk-Based Pricing Has High Credit Cost
Surveys by the Federal Reserve and others show that banks are tightening their lending standards, a process that is usually bad news for small businesses. But surveys by the National Federation of Independent Business and others show that most small businesses aren't finding credit to be a major problem.
Business Advocates Criticize SBA Cuts
The Bush administration's budget proposal for the Small Business Administration is not playing terribly well on Capitol Hill.
Service Providers Who Invest In Client Firms Lose Tax Ruling
The U.S. Court of Appeals for the 4th Circuit dealt a blow last week to small-business owners who invest in other enterprises for which they provide services.
Lawmakers Hear Outline Of Desired Tax Changes
What do small businesses want in the way of tax changes?
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