Expanding Your Income Stream

Expanding Your Income Stream

Are you looking for simple ways to increase your income without making a major investment? One small way to begin doing this is by becoming a reseller or affiliate for peripheral services that you believe in and already use on behalf of your clients.

For instance, if one of your peripheral services is printing, there are several reseller programs available, based on volume. Will this mean higher prices for your customers? Not necessarily. Personally, I only like the types of reseller programs that allow you to make a slight profit while the customer is charged exactly the same price as they would be, had they purchased the services directly from the company.

However, some entrepreneurs may choose programs that do allow for a slight mark-up. Some programs are low cost and effective enough to allow you to make a typical markup, as do most businesses, while still offering your customers a substantial savings over comparable services.

Many successful small business owners tout the importance of having multiple residual income streams. This can provide a steady stream of income to a small business owner, without any investment. There are typically two types of programs available:

Affiliate programs usually offer a small bonus or percentage for each client you refer to the company’s website, or to purchase their services. This is usually tracked through a link or banner on your website, which the company will provide, that will allow them to track who comes t0 their site from yours.

Dealer or reseller programs allow you to actually brand products or services and sell them as your own. There is usually more work to be done in this scenario but the return is usually much higher.

A word of caution: Don’t just go signing up to resell everything under the sun. Number one, you don’t want your site, particularly if you offer professional services, to begin looking like a flea market or garage sale of sorts, with dozens of banners screaming about every product known to man, except YOURS.

Secondly, your programs will be more effective if you offer services that are in line with what you are already doing for your customers. As a matter of fact, you might think of starting your affiliate or reseller participation by inquiring about reselling products and services that you already use frequently. There may be a program already in place, whether it is listed on the website, or not, or the company may offer you a referral bonus.

Lastly, only refer or resell products and services that you or someone that you trust already uses and are completely satisfied with. Otherwise, you will open up a can of worms that will cause both you and your clients a world of trouble down the road and possibly strain your client relationship.

By  John Hester

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