Home businesses fail because they are not earning a profit. Often this comes from expenses that are unique to network marketing and affiliate marketing.
Network marketing has an abysmal success rate. I remember seeing something like 95% of all network marketing business fail. I do think thanks to the Internet that has improved, maybe by a lot, but anyway.
This got me thinking about businesses in general. What is their success rate?
According to Forbes 8 out of 10 new businesses fail in the first 18 months. That is not much better then MLM businesses.
Why do they fail?
The #1 reason according to Forbes is they do not make a profit. I know from personal experience that in NWM it is actually a little bit more then that.
The #1 reason people fail in MLM is they are spending more then they make. Business expenses outnumber income.
I suppose in a typical brick and mortar business that is true in a different way. But the bottom line is if you are not making a profit eventually you will go out of business.
In the home business niche you need a way to make money and you need to make it fast. It doesn’t matter what your expenses are in a home business because thanks to the Internet they are really low.
It does not cost much to start a home business and run it online. But if you are not making money you will quit.
One of the reasons BizzyBoomers loves Wealthy Affiliate is it only takes 3 sales to be in a monthly profit. If you can not get 3 sales no matter the business you will become a failure statistic.
You can take a look at Wealthy Affiliate for free and see why we think it is the perfect home business opportunity to succeed in here.