Some people or individuals who market, and sometimes develop different products or services are good at what they do. Notice those people are working at home or operate from a building that is being leased with less overhead. Most of the time creating wealth isn’t as hard as it seems because it really isn’t, especially if the income you are receiving is residual income for the rest of there lives. While certain people think residual income is somewhat a farce that is not totally true.
The question to ask is what exactly is residual income in the eyes of the people who really understand how it works. Simply put, residual income is a form of income that you will continue to receive from a customer that continues to buy products or renew monthly services you are offering. If the customer constantly orders anything under your name then you will constantly be rewarded for your past efforts on turning that customer on to that product or service. I don’t care if its a profit of $5 dollars in commission from that customer you will receive payment on whatever payment on the day they order again.
However, there are some things to keep in mind about creating a stable passive residual income. One, there’s absolutely nothing hard about building a profitable residual income from a desired business that you choose. Literally, you could pick any kind program that is offering a true product/service, great compensation plan that offers a chance for recurring profits from residual income, and turn it into a empire of wealth. Personally, I love issuing quality services other than physical products out to possible customers because quality services, such as, insurance, communications, cable, memberships are all monthly renewal services which more likely customers needs to stay active on a daily basis. As in products, such as, health drinks, or the next generation water bottle may not be as important as services people use everyday.
A residual income opportunity is probably the best income a business owner could have going for themselves because when you make that once sale per customer the money just continues to come in monthly from that customer without you lifting a finger meaning. Every consumer you win over will possibly continue renewing the service, or buy more products which means more profit for you. How about we do a little math, I know, we are all out of school, but this is money we are talking about 🙂 so here we go: Say that you have a good month, and have signed up 200 people for brand new telephone service that cost $32 per month with a profit margin of 25% with possible residual income for each monthly renewal going to your bank account each month. That’s $8 dollars per per month you receive on each customer you bring in which isn’t much, but let’s continue with our example of the 200 people you have just signed up. If you add it up: 200p x $8 = $1600/month!
Remember, you are not on some employers payroll this all comes from your very own efforts in building a profitable business. Let’s check out some facts about keeping your residual income rolling smooth. Although you may make tons of sales you are in business to keep capital above your own standards.
One of the greatest things you will be dealing with in your business is problems of trustworthiness. People are willing to pay for what you have, but if you are gypping them on some product or service that doesn’t exist how can you run a business. Prove to your customers that what you are offering to them is real, and will solve whatever problem the product or service covers. One other problem people have trusting others about is the fact some businesses operates with third-party companies. Companies operating with third-party companies tend to sell your information to these parties. Signing up with a company with third-parties attached to them is risky because customers may find unwanted deductions at times in other months.
People are smart these days, remember that small fine print you find on the package product or service on the label, well, many consumers are reading these labels. It is fundamental to be upfront with your customers. Your word is your bond with everyone you bring into the business so give them all information, and a clear understanding on how there money will be handled when wired from bank to bank. When people order products/services they are only ordering THAT product or service NOTHING ELSE! Feeding all details to your customers, such as covered up promotions, or offers will ensure there trustworthiness to you.
What do people want these days in time. Consider every aspect of how people react on different products/services. Distinguish between the wants & needs of people. Look at the age, style, of different people, and what can be offered to help that person better in life. For instance, a 16 year old teenager love video game systems, such as, the famous Playstation 3, Xbox 360, or Nintendo Wii. A HDTV 22′ Plasma screen TV is another good example a 34 year old would WANT, but isn’t considered important to need in life.
These are things people don’t really need so these will be in the WANT section for individuals. Something a teenager around that age group probably need is a calculator for class. As in individuals around 34 years old may NEED a lawnmower to cut the grass. Remember this, WANTS are things we don’t use on a everyday basis, but mainly for recreational times. On the other hand NEEDS are the things we are entitled to for most of our lives.
Here you are making so much money earn residual income checks every single month, and something happens! A customer calls you because of a little problem. You have never had a problem from anyone since you been in business from the beginning, but this one is resolvable. Although the problem Is not serious you feel its time for you to look deeper in the situation, and find that there are many concerns on that same problem from the customer who contacted you.
I suggest people who run a business from home or office keep in contact with all of your customers to make sure there experience is the same from the beginning of purchasing your product or service just like Prepaid Legal services business program almost everyone stays in contact. Customers love this action from companies they are using service from. It shows that you care to keep all customers happy, satisfied, and you value them for using there products/services.
To make money online creating residual income is magnificent when done right. You can also continue creating more streams of income will catapult your business in a way that you thought wasn’t possible if you find the businesses offering you that opportunity. They are all around you if you look harder. A suitable resource for finding markets is simply using the top search engines when looking for ways to make money online to create residual income. Google keywords such as “business offering multi level marketing”. It seems a little suspicious by the looks of it but this is only an example.
Once you have locked into place how you will start generating residual income from off the business that you are building from scratch you will not regret one bit of the effort and time invested in what you have started. Hold house meetings to present what you have to offer for people who wants to make money from a business implementing a true residual income opportunity for themselves and members of there group. If you’d rather for it to be held at your downtown marriott then go for it. Actually this may be safer if you are setting ads in the business section of the newspaper for free invitations in the city.
To work at home & earn residual income can be a wonderful experience if you know how to maintain a good relationship with all your customers. Do your best to provide everyone you sign up an excellent experience which would endure great success for you and your business.
Til Then My Friends,