Bizology.Biz — the science of building YOUR thriving business — improving and increasing business results has added new modules and updated information.
Have You Created Residual Income Strategies in Your Business?
Residual Income is a strategy that keeps money flowing into your business or your personal life, consistently, month after month. A true residual income strategy involves making one sale, or one referral and then receiving income from that without the need to make additional sales or referrals to the same customer over and over. The product or service is typically one that the person uses each month and pays for each month. Let’s look at a few strategies for consideration:
Residual Income Strategies:
- Membership Sites: many businesses have created membership sites that offer information to their clients each month. The site bills the client each month and new content is provided for that monthly membership fee. Many businesses can implement a membership strategy for their target market. Bizology.Biz is our membership site. It provides new “lessons” or content each month in the form of reports and audios. Once set up a membership site can operate automatically and deliver the content to its members without the owner having to do anything.
- Books- Writing target market e-books can provide income that continues to come in month after month if you have selected a good niche market for e-books, you have good content and you work on key promotional strategies.
- Affiliate Marketing: Affiliate marketing is used by many on the internet. You create a product and then offer others a commission for referrals. If you are promoting a membership site then you create monthly income other products result in one time commissions. Bizology.Biz offers an affiliate program that pays a 20% commission.
It is important to evaluate strategies that are right for you. But adding a multiple streams of income strategy to your business has many benefits.
Some of the benefits of course include — new money flowing into your company. Consistent income flowing into your business. Services and products that you like that benefit you and your family or business while increasing your income.
The power of working with different strategies for your business can be incredible. As you see people liking what you are offering, you build more and more and soon the income generated can provide the resources that you need to pay off loans, credit cards, mortgages and save for retirement. When many do not have retirement plans, incorporating a strategy that will build consistent income is just plain smart!
Create Your Club or Membership program
Access the complete Club Building program including the step by step training with guides, action plans and checklists.
In addition, access the full E-Learning Playbook — complete video course on building your membership learning center.
In addition to the E-Learning Playbook, you will have a complete Guide and Workbook.
Building a Club or Membership can help you to create the recurring revenue that you need.