Monetize consumption thru transfer spending
You are certainly spending money. Your spending it on food, household supplies, health and beauty items, gasoline, cell phone minutes, pet medications, gifts, home repair and entertainment, just to list a few. Most of us don’t even want to think about how much we spend on personal, non-business related, items each year.
Now let’s talk about your Home Business expenses. Your spending money on web site hosting, printing, gifts for clients, back-office programs, lead generation programs, web conferencing, meeting rooms, conference calls, and webinars.
What’s my point? Are you getting cash back from your many purchases? More importantly, are you getting compensated each time any of your customers or down-line make these purchases? If not Why not?
Let’s take an example. Most people I know start off their day with a cup of coffee. I get mine free, and in fact earn Residual Income on all of my down-line and customers that order coffee. Each time someone clicks on Amazon.com, Gardner’s Supply, Barns&Noble, Buy.com and many others they get a discount on their purchases and I get a percentage of what they spend.
It doesn’t matter what Home Business you are in. If you are only offering your customers the limited items your company sells, you are severely limiting your monthly income! If you are only selling items that don’t promote monthly re-orders, you are in even worse shape. You are letting hundreds of dollars slip thru your hands into someone else’s pocket. Remember they are spending the money anyway, why not have them spend it thru you!
I would hope, that after you have made the initial sale to your customers that it’s not the last time they hear from you. Why not go back to them and offer them the convenience of purchasing more thru you, and show them how to monetize consumption thru transfer spending.
Residual Income has become increasingly important. When you sell someone a car, a home, watch etc. it is unlikely that you will receive more income from that sale any time soon. By selling someone a consumable product, vitamins, health drink, food, etc. you receive a monthly “residual income.”
Residual Income is the money that comes in every week whether or not you are “working,” it’s the income derived from past efforts. An example of this is the income your insurance agent receives each year without having to sell you something new. He put in the work when he first met you, received a fairly large commission then and receives a smaller commission each year you remain a client. Do this with enough people and you can build a substantial monthly income from prior work – Residual Income.
Now that doesn’t mean that you need to recruit them into your business. As you know, most people don’t see the advantage of owning a Home Business. Just show them how to take advantage the same thing you did, monetize consumption thru transfer spending.
Nowadays it’s hard to earn sufficient income from just one company. Additionally, if that one company changes the rules or goes out of business, as we have seen multiple times recently, you are out of business as well. Financial adviser’s have always suggested not to put all your eggs in one basket, why do it with you income source. It’s prudent to find several companies, that do not compete with each other, and broaden your product line.
How many customers do you have? Imagine if you got a 15% – 20% increase in income from them next month. How will that impact your annual income? If you have a down-line, imagine a 15% – 20% increase in income from them and all of their customers. Now you see the potential of monetize consumption thru transfer spending.
You only have a limited number of hours per week to earn a living. Make the most of that time by offering your potential customer a wide array of products from multiple sources. Be a problem solver. Find out where they are currently spending their money and show them how to redirect their spending thru you. That way you aren’t asking them to spend more, just change where they are spending it. From dish soap to vitamins, monetize consumption thru transfer spending is the way to grow your business.
to see one example of my monetize consumption thru transfer spending.
What do you have to loose?
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