Residual Income - Why You Should Strive For It
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Residual Income Opportunities ~~~ Home
What exactly is residual income anyway? Simply put, a residual income opportunity can be defined as any payment system where you receive regular, ongoing payments as a result of a single sale. The frequency of the payments may vary – they could be weekly, monthly, quarterly etc. – but they are regular and ongoing with no further selling activity once the initial sale has been made.
Any product or service which is provided on a lease or rental agreement has the potential to provide you with residual income. Ideally, your customer will automatically renew each week/month without any requirement for action (effort) by either your or your customer.
There are several reasons why you should target genuine residual income.
Many people who set up their own small home business do so with the express intent of eventually replacing their salary. Due to the regular nature of the payments, residual income is ideal for this. In fact, it’s considerably better than having a salary as you continue to get paid for work that was done in the past.
With genuine residual income, the automated reorder process means that you don’t have to spend time servicing and supporting your existing customers. You can focus your energies on finding new customers and/or recruiting new distributors/affiliates, thereby continually growing your business at the fastest possible rate.
With an automated reorder system on the other hand, your customer needs to make a positive effort not to reorder. It’s a well known fact that customers who pay for products and services by subscription are much more loyal and less likely to cancel. Even if they do decide to opt out they tend to delay this for longer than they would otherwise.
Let’s not kid ourselves here – many people don’t like selling. There are ways round this and it’s possible to minimise the discomfort some people feel – but it’s still there at some level for many of us.
Picture this: You’ve just made a sale, you feel great and you’re already thinking about how you’re going to spend you hard earned money. Then it hits you – you’ve got to do it all again this afternoon, tomorrow, next week. Takes the gloss off a bit – right?
Now think about a slightly different scenario. You’ve just made a sale. Your new customer has signed a repeat subscription agreement and you are going to benefit for months, if not years to come. Is that a better home movie? I think it is.
To summarize, genuine residual income opportunity will help you maximize the returns on your efforts and build a solid, reliable and predictable income from your home business. You need it.
Check-out the Residual Income Opportunity website for information on the Plug-In-Profit Site. This program is the most comprehensive, tested and qualified residual income builder site available online today. Also, get (6) FREE E-Books that show you how to make the most of your business. www.DynamicInternetProfits.com
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Tags: residual income opportunity, residual income, work at home, residual income opportunities, home based business
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