3 Quick Tips For Creating Residual Income in Your Promotional Products Business

I frequently get asked how to set up a residual stream of income in promotional products sales.

What is residual income? The best definition I've seen is "revenue that occurs over time for work done one time. "

Here are my 3 best suggestions for creating residual income in your promotional products business so that you can work less and make more money:

1. Sell items most likely to repeat year after year.

One of the best things about promotional products sales are the repeat orders. How can you get more repeat business and set up easy residual income streams?

Here are three items that are most likely to repeat.

--Calendars may not be the most exciting or creative item out there, but they are easy to sell and just about everyone uses them. Once you sell a calendar order it will most likely repeat year after year. Insurance companies and other service providers are your best prospects for this staple of the promotional products industry. Schools, sports teams and municipalities may also be good prospects.

--Pens can also be sources of easy, repeat and residual income for your business. Look for businesses such as financial institutions that buy large quantities frequently.

--Notepads and sticky notes. Everyone uses these. Once a company purchases, there's a good chance for yearly re-orders.

2. Establish yearly promotional products contracts. Do you market to large businesses that purchase promotional products throughout the year? Then consider having your customers sign a yearly contract for all their promotional needs.

The benefit to the customer is better pricing and strategic planning. The benefit to you is cash flow throughout the year. You work with your customer to determine their yearly promotional needs and have the items drop shipped throughout the year.

Now is a great time to start planning for your customer's 2010 needs. As with any contract, you may want to get legal help to have it worded correctly and protect yourself and your company.

3. Send Out Cards. You already know how important it is to stay top of the mind with your best customers and to send thank you notes and gifts of appreciation, but the process can be time consuming. Send Out Cards, a Utah based greeting card company, makes it easy and fun. It's all Internet based with hundreds of cards to choose from.
Here's how it works:

• Choose your card
• Write your message
• Click send

Send Out Cards prints it, stuffs it and mails it, all for less than a greeting card at the store.
I use this service and really appreciate how much time it saves and the wide variety of cards and gifts.

Once you invest in the Send Out Cards program, not only will you save time and money, but you can sell the system to your customers and create a residual stream of income for years to come.

Want to learn more and try Send Out Cards for FREE? Send yourself a card by clicking on the link here and see how easy it is:
https://www.sendoutcards.com/promobizcoach

What do you think? How have you created residual income in your promotional products business? All thoughtful comments are welcome. Just click on the comments button below.

Here's to your success!

Rosalie

Rosalie Marcus, The Promo Biz Coach, teaches people in the promotional products industry how to get more sales, better customers and earn a higher income doing what they love.

Get a free special report: 10 Proven Ways To Thrive in Promotional Products Sales (in Any Economy!) at her web site: http://www.promobizcoach.com/
Reach her at: Rosalie@promobizcoach.com or 877-570-6766.