The Internet revolution has created a new form of building relationships with the advent of Social Networking. Social Networking combines traditional networking with the power of the Internet. Today, it is easier than ever before to build mutually rewarding, win-win relationships that can literally result in residual income.

1. RESIDUAL INCOME MEANS
REPEAT BUSINESS

2. Communication is the
underlying key to success
There is a greater focus on the concept of residual income
than ever before in the history of business. People are sick
of sitting in cubicles for paltry payouts that still leave them
living paycheck to paycheck. For those of us in the network
marketing industry, we already know this. This is what at-
tracted us to the direct selling industry in the first place! With
the advent of the Internet and all the residual income, also
called passive income, opportunities it creates, the world
is more open than ever for you to explore entrepreneurship
and work-from-home opportunities.

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Residual income is derived from people
responding to an opportunity offered by a
business or business owner; typically the
sale of a product or a service.
It is an income stream that comes in con-
sistently without you having to put in hours
for each sale to earn it. This doesn’t mean
you don’t have to work for it, however, it
does mean the work you do each day could
make you money for many years into the fu-
ture. Prior to the Internet revolution, this was
challenging but has consistently become
more attractive as new technologies and
tools become available. The Internet offers
a new type of lifestyle where you don’t have
to work yourself to the bone each week,
working for someone else, waiting for Fri-
day to arrive.
The Internet revolution has created a new
form of building relationships with the ad-
vent of Social Networking. Social Network-
ing combines traditional networking with
the power of the Internet. Today, it is easier
than ever before to build mutually reward-
ing, win-win relationships that can literally
result in residual income.
So, what exactly is residual
income?
What better way to acquire residual income
than through repeat business? Residual in-
come and repeat business are mutually com-
plementary. The most successful business
owners who do it, know this and know it
well, which is exactly what makes them suc-
cessful. Repeat business merely requires in-
fluencing someone once to earn their busi-
ness, loyalty and money time and again.
All repeat business means is a customer
returning to you to buy again. They have al-
ready been there once, liked what they pur-
chased and came back again. Hopefully, in
the process, they also told some friends or
family about their experience.

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Naturally, referrals are
a big business builder
People are more likely to shop somewhere if they
were referred by a trusted friend or family member
than simply in response to advertising. Repeat busi-
ness is more than it seems. It shows the business
owner they are doing something right and that they
have favorable product or service. The business own-
er who earns repeat business is going to be success-
ful because he is building up a customer base of loyal
customers who believe and trust in him. When cus-
tomers become loyal, retention is built as these cus-
tomers typically become customers for life.

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Communicate with your
customers
There is simply no other concept in a re-
sidual income business that means more.
A business owner searching for the secret
to success can stop looking when they dis-
cover the importance of repeat business.
To truly capitalize on this concept, an own-
er must understand its importance. They
must treat customers with the same loyal
attitude by which the customer has treat-
ed them. Many businesses have offered
discounts and benefits to loyal customers
as a means of retaining their business to
show the customer they are appreciated
and that, as a business, they recognize the
customer’s importance. Losing a custom-
er is painful and not only translates into a
loss of revenue but also the squandering of
trust and credibility within their industry. It’s
also cheaper from a marketing standpoint
to keep a customer happy once you have
them than it is to win a new one. It’s esti-
mated that it costs five times more to win
a new customer than to retain an existing
customer.
Probably the greatest suggestion we can
give you towards creating repeat business
and, thus, residual income, is to communi-
cate with your customers… frequently, re-
peatedly, thoughtfully and continually. The
more you interact with your customer, the
more “top of mind” both you and your prod-
uct will become.

6. Branding does not stop with your product
or service but rather, the key to remaining
at the forefront of your customer’s mind, is
the entire experience the customer makes
along their purchasing journey. Regard-
less of your type of business – product or
service – increasing communication with
Critical to repeat business is
creating an outstanding and
personalized experience for
your customers
your customer can and will benefit your
business to a large extent. Why? Because
people bond with other people. They show
their appreciation through repeat business
(i.e. repeat buying) and by talking about
their experience with others, i.e. recom-
mending your product or service to their

7. Owners need it to have a residual income
stream to make them successful. Every
major corporation earns a large percent-
age of their profits from repeat business,
which just goes to show its importance.
If the big guys are using it and benefiting
from it, then it obviously is an important
factor in business success.
Overlooking
repeat business
and its impact
is a fatal mistake
friends, and family or even outside their
sphere of influence, since testimonials on
social media or elsewhere on the Web will
reach thousands of other people who then
also become your potential customers. The
virility of the Internet should never be mini-
mized. It must also be repeated that happy
customers become “extensions” of your
marketing efforts as they are likely talking
about their positive experience with others.

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