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Residual Income Opportunities - Which Is The Best Residual Income Opportunity? by Sonny Carter





Residual Income Opportunities - Which Is The Best Residual Income Opportunity? by
Article Posted: 11/08/2014
Article Views: 673
Articles Written: 2
Word Count: 497
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Residual Income Opportunities - Which Is The Best Residual Income Opportunity?


 
Business,Home Business
Residual Income Business Success Blueprint.. ">Before choosing the right residual income business, there are some key principles and factors that you want to make sure are in place. These factors will help ensure that the residual income opportunity you choose will last long term and will give you the best chance to succeed.

3 KEY SUCCESS FACTORS

I'll go over 3 key factors you need to look out for when choosing a residual income business that you can do from home, and before you invest your time, energy, and reputation into building.

To create sustainable residual income, it's all about keeping a large part of your market buying the product or service that your business is offering consistently on a monthly basis, long term.

These key factors take into consideration the universal 80/20 principle. That is, 80% of the people are looking to get a good buy, don't like taking risks, and are looking to get lots of value and the best bang for their buck.

1. UNIQUE PRODUCTS/SERVICES

A good residual income opportunity will have products or services that are unique to your business. That is, products that cannot be bought elsewhere. This is very important if you want your market to stay purchasing from you, and only you.

Starting a residual income business with a product or service that is not unique will put you at risk to another competitor offering the same type of product for a lower price.

It's the uniqueness of a product or service that keeps your market loyal to your business.

2. CONSUMABLE PRODUCTS/SERVICES

Highly consumable product or services make for a good residual income opportunity. Highly consumable products/services require your customers to come back and purchase more to replenish. It also establishes a buying pattern and will develop brand loyalty.

This is a key factor for a residual income business.

If not highly consumable, it could take 2-3 months before a customer ever comes back and decides to purchase again, and that's if they decide to come back. You want to keep your market buying consistently, and often. Having highly consumable product or services will accomplish that.

3. COMPETITIVELY PRICED

The price has to be right. To keep the majority of your customers buying monthly, the price has to be competitive in the market place. If the products or services are expensive, or don't compete with other similar products, it will be difficult to keep people purchasing from your business long term.

If you want the majority of the people buying monthly, that is, the 80%'ers, then it has to be priced well. Ideally, you want a price that's lower than what people are already buying. Preferably, a 20%-30% price discount would be good.

To learn more about choosing the right residual income business, take a look at the Residual Income Success Blueprint..

Related Articles - residual income home based business, residual income business, residual income opportunities, income residual business, residual income opportunity,

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