Saturday, July 22, 2006
What Hamburger University Has To Do With Your MLM Business
The success rate of a franchise far exceeds that of any other business model for all the obvious reasons you are probably already aware. When you buy a franchise you are buying a business model proven successful in other locations. With a franchise you inherit "the system" which likely cost millions of dollars in the form of mistakes to perfect. With a franchise you have a company behind you that wants you to succeed . . . because their bottom line depends on it. With a franchise you are forced to go through a rigorous training program to ensure that you know every aspect of running your new business.
But the biggest reason is the poor sap that is working day and night, often 80 plus hours a week to get it off the ground and keep it running. Why would someone do such a thing you ask? Because the average franchise startup is between $100k and $300k in liquid capital - and when you have that much riding on the line wouldn't you work day and night to see it through? Of course! And you would do it with a smile on your face because YOU KNOW THAT YOU KNOW THAT YOU KNOW its going to succeed.
You see in the final analysis it's not the system, training or company support that accounts for the 85% success rate of franchises versus the overall average of 15%. The "other reason" is BELIEF. Its amazing how strong ones belief is when several hundred thousand dollars on the line.
MLM businesses in particular have all the advantages of a franchise with a proven system, company support and training. MLM's even have more upside potential in earnings without near the headache - yet they have almost no downside. So while the minimal cost makes the opportunity technically available to anybody - it's the same thing that keeps success beyond reach for so many. With minimal cost comes minimal belief - and belief, is the ONLY problem standing between you and success.
If you knew that you knew (without a shadow of a doubt) that six months from now you would be earning an extra $10,000 a month, how hard would you work to see it through? What would you sacrifice? How many hours a day would you put in?
But the biggest reason is the poor sap that is working day and night, often 80 plus hours a week to get it off the ground and keep it running. Why would someone do such a thing you ask? Because the average franchise startup is between $100k and $300k in liquid capital - and when you have that much riding on the line wouldn't you work day and night to see it through? Of course! And you would do it with a smile on your face because YOU KNOW THAT YOU KNOW THAT YOU KNOW its going to succeed.
You see in the final analysis it's not the system, training or company support that accounts for the 85% success rate of franchises versus the overall average of 15%. The "other reason" is BELIEF. Its amazing how strong ones belief is when several hundred thousand dollars on the line.
MLM businesses in particular have all the advantages of a franchise with a proven system, company support and training. MLM's even have more upside potential in earnings without near the headache - yet they have almost no downside. So while the minimal cost makes the opportunity technically available to anybody - it's the same thing that keeps success beyond reach for so many. With minimal cost comes minimal belief - and belief, is the ONLY problem standing between you and success.
If you knew that you knew (without a shadow of a doubt) that six months from now you would be earning an extra $10,000 a month, how hard would you work to see it through? What would you sacrifice? How many hours a day would you put in?
