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On this episode of #FinanciallyFocusedMONEYTALK, we discuss how sales is the foundation of wealth creation. Host #DenniseWilliams and guests #DuaneLueFung, #ElizabethTerry, #DinoHinds and #DrCarolynHayle share their thoughts on the topic.
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In this episode, the key points are:
Understanding the sales process is key to understanding how to build residual income.
First the sales process:
- Prospecting The first of the seven stages in the business procedure is prospecting.
- ReadinessThe subsequent stage has you in anticipation of beginning contact with a potential client, looking into the market and gathering all pertinent data in regards to your item or administration.
- Approach. Deciding how to approach the customer.
- Introduction In the introduction stage, you effectively show how your item to your potential client.
- Taking care of objections. Maybe the most under-estimated of the seven stages of a business sales process is taking care of complaints.
- How to close – you get the choice from the customer to push ahead. Contingent upon your business, you may attempt one of these three closing systems.
- Development When you have brought the deal to a close, your activity isn’t finished. This is where you build a relationship with your customers.
Then focus on residual income.
What is a residual income?
Residual income is a type of income that’s lasting. It means you don’t have to work all your life to earn money, with little effort; you can sit in the comfort of your own home and earn money.
The internet is one of the fastest growing markets for different kinds of businesses. Imagine you can target customers from almost anywhere in the world. There are also a lot of payment options online. No matter what country you are from there is always an opportunity for you.
Here are some ideas you can do to generate a good paying site.
- Create ebooks. You can get more profits if you publish it yourself. However there are certain advantages if you let publishers market your book. Publishers know a lot of sites where they can place it because they have more experience. Ebooks are easy to download, you only have to create one and anyone can download it even when you’re not there as long as they pay for it or as long as they’re subscribed. Of course there are certain rules that you have to follow like getting a ISBN number for your book.
- Create downloadable learning tools. If you are an expert on something and you would like to use your expertise to educate people then creating downloadable tools is just perfect for you. You can make a class wherein people learn through listening to your voice and you can charge them to pay for it. If customers like you, they will just keep coming back.
- Create a blog that is supported by paid advertisements. Write anything that interests you. You can also link your blogs to other programs that offers site traffic. An example is the google adsense. It is very easy to set-up an account. It is available worldwide. They pay for every click on your blogs’ ads. Payments vary according to the type of advertisements that shows on your ads. However there are certain keywords that can attract advertisers to bid for a place in your blog. Just always bear in mind that, do not click your own ads because it is a violation. If they learn about it the adsense team will automatically terminate your account.
- Participate in affiliate programs. Create a site that will help you campaign for your affiliates.You can visit different affiliate links and some of them don’t require membership fees.
- Make an online magazine. You can get people to subscribe, participate in the forums and submit articles for you. You can publish it monthly, quarterly, whichever you like.
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