Create Residual Income: Part 5 of How To Create Residual Income
Create Residual Income: Fulfillment As you consider a company that will potentially give a great income for you and your family, there are few more questions to ask.
One is that of fulfillment.
How does this company fulfill its delivery of the product or service? Does it over-deliver or just do what is expected? Are these deliveries on time, every time? Are there complaints about the company or have they received awards because of their outstanding service.
Do some research in this area of fulfillment to make sure that there are no blatant problems.
After all, the company only makes money and you only receive income when the delivery and payment of the product or service takes place.
Create Residual Income: Scalability Scalability refers to customer gathering.
Can you only gather customers over the phone or in person? Or, can you use online marketing to gather customers? Can you use social media like Twitter or Facebook to attract prospects? This can give an unlimited source of customers for the business.
Check out those limiting factors before deciding on your company for residual income.
Create Residual Income: Company Age I like to see a company that is between five and ten years old.
In that range, the company is new enough to experience some exciting growth.
I want a company that has worked through the problems and is practical for the long haul, not just a one hit wonder.
We have discussed multiple ways of evaluating a company for potential extra income.
These include:
Now is the time for you to make some decisions and to move forward.
One is that of fulfillment.
How does this company fulfill its delivery of the product or service? Does it over-deliver or just do what is expected? Are these deliveries on time, every time? Are there complaints about the company or have they received awards because of their outstanding service.
Do some research in this area of fulfillment to make sure that there are no blatant problems.
After all, the company only makes money and you only receive income when the delivery and payment of the product or service takes place.
Create Residual Income: Scalability Scalability refers to customer gathering.
Can you only gather customers over the phone or in person? Or, can you use online marketing to gather customers? Can you use social media like Twitter or Facebook to attract prospects? This can give an unlimited source of customers for the business.
Check out those limiting factors before deciding on your company for residual income.
Create Residual Income: Company Age I like to see a company that is between five and ten years old.
In that range, the company is new enough to experience some exciting growth.
I want a company that has worked through the problems and is practical for the long haul, not just a one hit wonder.
We have discussed multiple ways of evaluating a company for potential extra income.
These include:
- Compensation- how much are you getting paid during and after the sale of the product or service
- Leadership Team- does the corporate leadership have enough experience to run the company past where it is.
- Capitalization- Is the company sufficiently funded in case of economic downturns.
- Market Trends- Is the market trending up for this industry
- Market System- Is the company's marketing system capable of handling growth
- Unique Selling Propositions- Does the product or service uniquely stand out among the competition
- Company Structure- Is the company privately held or is it a publicly traded company
- Fulfillment- Does this company have the adequate structures in place to deliver the product or service every time and on time?
- Scalability- Can the customers be reached in almost every market venue
- Age- Does the company's age fall in the sweet spot of 5 to 10 years old
Now is the time for you to make some decisions and to move forward.
- Best Regards,
- Wally
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