One of the easiest ways to start generating more residual income is to leverage your existing book of business.
If you run a marketing consultancy, for instance, you’ll have a number of clients across a broad range of industries or marketing segments, and these clients already respect your talent and ability. Starting your sales funnel with these clients is the easiest way to start generating income. Getting someone to agree to meet with you for a half hour is often the most difficult part of any sales process – regardless of the price of the goods or the value it brings to the buyer. People are by nature procrastinators, and they are inclined, no matter how hard they fight it, to either put off completing the hard stuff, or more commonly, the easy stuff.
When I want to spread the word about something new, I sit down and start the process by listing my talking points and then determining what the reach-out method is going to be. Social media? Email? Old fashioned phone call or in person meeting? Then I divide my contact list into groups that are better served by reaching out in a particular manner. Some of my colleagues despise email, so that’s generally the fastest way to get no reply from them. Others (like me!), don’t do the phone very well, so trying to schedule a time to talk is futile; quite often the “no phone” contingent (like me) will do Skype, Hangouts or any other kind of messaging that does not involve standing around with a phone in hand. I don’t even mind video conferencing (pardon my hair!), as long as I’ve got the ADHD like ability to sit around and check email on the phone or the iPad while I’m chatting. I fell in love with instant messaging back in the 90s and my preference has not changed since.
So, once I’ve sorted my list, decided who to contact via what method, then it’s just a matter of doing the contact blitz. The grunt work, if you like that term. Personally, I find that knocking out a section of the list (and again, I don’t do much phone if it’s all possible – while I can do 12 Skypes at once if it’s just messages) in one go is a good idea. If you have so many contacts that you can’t get through a segment of the list in a few hours, well, that’s awesome! My social media contacts are a pretty good sized chunk, so those take a while to get through, especially since I’ll be interrupted with replies while I’m still sending out initial messages, so sometimes I cut the list into sections and push it over a few days.
Now the real work starts – all the sudden you’ve got 83 personal messages on Facebook and they all require a personalized answer. And time for questions. And maybe you’re not even in the same time zone.
Do not drop the ball here.
This is why I recommend that you start out just a tad more slowly. Everything above is all fine and dandy if you have nothing else to do and you’re trying to jump start your income; if you already have a good client base to leverage, then you most likely do have a lot of other stuff going on — and it’s better to go more slowly than to start pushing the idea out to a ton of people and fail miserably on the follow up. You’re not getting paid for telling people there’s a website and a platform, your getting paid for closing deals that involve credit card numbers going into the system, so keep that in mind and pace yourself. We’re not going anywhere, I don’t expect Apple or Google to come up short of operating cash next week, so working your list deliberately and surely, with an eye to closing as many current customers as possible is the most effective way to build your residual income and continue to profit from initial sales.