Every month, Terry Dean sends me his Monthly Mentor Club Newsletter. I am always very anxious to receive it. He receives a monthly income from me which I am happy to pay out because I am receiving a quality product.
You’ve probably heard the online saying, “Content is King.”
That’s actually a little debatable, because without a little marketing no one will find it.
I want to introduce you to another key element of your business.
Continuity is King.
Terry Dean sold his business in 2004 but kept his continuity products.Why did he keep his continuity products and sell off other elements of his business?
Simple. Continuity income is residual income. It’s hands free income that comes in every month.
That of course is the best kind of continuity income…money that comes in each month without you having to do anything else for it.
As I mentioned, a very good example of continuity income is Terry Dean’s Monthly Mentor Club print newsletter which comes out every month.
This newsletter takes around 2 days total to produce each month (not too big of an investment). And Terry does not outsource any of the writing for it. Yet it produces thousands of dollars in profit for his business every month.
The beauty is that some customers have been members since the very first month it came out. I have been a member since January of this year.
He sells it once and members like me stay for months (or even years). Credits card payments are made out to him on a monthly basis. Compare that to some of my low cost products such as my Graphical Opt in Boxes. If I If I don’t do a promotion for that one time product, then sales aren’t made.
Which one do you think I prefer to spend the majority of my selling attention on?
That’s right. Continuity is king. As we move towards 2009 you’re going to see me concentrating more and more on Terry Deans Monthly Mentor Club. In fact, Terry has a few surprises for all the members coming up as he expands on the site and adds in the “gold” membership option.
You may be wondering what the October issue is about? Continuity of course.
Today at 9 AM Eastern, Terry uploaded the October print newsletter issue for mailing. Make sure you subscribe to get this month’s issue.
Here is a copy of the first page of the newsletter.
I have to apologize to you, my reader. I’ve been looking at my back issues. While I’ve covered a ton of information designed to help you improve your profits online, I’ve been neglecting one of the most
important elements.
Of course I’ve mentioned it before, but I really haven’t given it the proper focus.
My business sells ebooks. My business sells CDs and DVDs. I even sell full home study kits.
But my favorite income stream is continuity income.
This is consistent money that comes in month after month. On day one you already have a specific amount of money scheduled to come in. Even if you don’t sell a single new customer this month, you still have more than enough money coming in.
Right now in my business I have multiple forms of continuity income.
For example, this print newsletter you’re reading right now is one form of continuity income. I charge monthly for it. You sign up once and you continue to receive it each month unless you cancel.
I also have the Netofficetoolbox.com site which is a private label of 1ShoppingCart. When I sold off
other portions of my internet marketing business (including even my email list) in 2004, I kept my private label. Why?
Simple. It’s reliable consistent monthly income that I don’t do anything for. While I actually have to
write this monthly newsletter (nope I don’t outsource the writing of this newsletter at all), all the customer support and processing for the 1shoppingcart site is handled by their company. I don’t do squat for it.
Each month I get a check in the mail from them for the clients I’ve referred over the years. The best
part…is that once someone starts using the system and they’ve integrated their business into it, they rarely cancel their account.
Think about what this means.
It means I saw more value in the continuity program than even the email list. The email list takes regular follow-up to make valuable while this system shares the money with me month after month even though I didn’t refer a single new client to the service for 2 years.
Besides the above two forms of continuity, I also have my monthly coaching clients (all coaching clients sign up for a monthly program) and partial ownership in a couple of other membership sites.
What kinds of continuity income do you currently have coming in?
Since I consider you my clients, even though you’re not private clients, I want to set a goal for you to create at least 1 form of continuity income within the next 60 days…and have at least 2 continuity incomes in 2009.
What type of program? I’m not going to require a specific type of program because everyone’s market is a little different. During the rest of this issue I’m going to go over some of the different forms of monthly income and how to choose the right one for your situation.
Of course, like usual, you can expect little tips and tricks to boost your monthly income all throughout the issue.
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