Home Based Business MLM - Why Do 90% of People Fail in Home Based Business MLM?

To most people an industry failure rate of 90% is staggering. It's important to look at that statistic and understand exactly where it comes from though. It's also important to understand the contributing elements, in order to have a realistic perspective about a person's chance at success. The truth is that the home based business MLM vehicle has tremendous potential for wealth building, as long as you know how to make it work.Home Based Business MLM - Where do you get a 90% Failure Rate?When we look at this statistic, it's important first to understand the definition of the term "failure". In this case, the failure rate has been determined by the number of people who started out and didn't make it successful. This statistic says little about the amount of time that a person has put in or effort put forward. Also, "failure" can just mean that they gave up, they quit. If you know anything about what it takes to be an entrepreneur, you know that there are plenty of opportunities to quit. And when the barrier to entry is so low (it doesn't typically cost much to start a home based business MLM) then people find it a lot easier to quit than to do what it takes to be successful. This does NOT necessarily reflect the viability of the home based business MLM model. The truth is that it is very strong, when done correctly.Home Based Business MLM - The Critical Factors For Success or FailureWhen it comes down to it there are only a few simple elements that, if mastered, will pretty much guarantee your success. They are these:Choosing The Right Vehicle For You - There are many options to choose from out there in the world of home based business MLM. If you are smart about it, you will choose a company who you feel not only shares your values and beliefs but embodies them. You will feel as though their principles, their leadership and their character are things that you can stand behind and feel proud of. If not, you're out of integrity and you will NOT be successful.Working With A Team - If you set out to do this on your own, you will lose. Even if you're the most dynamic sales person the world has ever seen, and even if you have the most incredible product or service, you will lose. The fact is that this business has a learning curve, and it relies on duplication. So no matter how good you are, if you can't teach other people to be just as good or better, you're done. And if you don't know how to do that, and don't partner with a team and a community of people who does, you're done. It's unfortunate that there are some companies in the home based business MLM industry who promise people all the support in the world, and then once they've signed up leave them out on their own.The good news is that there are other companies that operate quite differently. The highest quality companies (the ones that are here to stay, displaying stable and sustainable growth) plug people into a TEAM and a COMMUNITY of people who know how to be successful and can teach you, show you, help you. Then they help your people do the same. This is how you win.Develop An Endless Stream Of Qualified Prospects - The other sad truth is that people fail because they don't have people to talk to. For whatever reason they just don't have the connections, or the influence, or the networking skills to bring in the numbers. The good news here is that you can learn how to leverage technology to create a virtually endless stream of qualified people to talk to, who actually WANT what you have to offer. And they will come to YOU. There are only a small percentage of people in the industry who understand how to make this last point a reality. Partner with them.The home based business MLM industry is amazing as a tool for wealth building. Follow these simple principles, and you too will win.