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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 are also 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. Explain to your customer that the benefit to them 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 seek 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 in the front of your best customers’ minds 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 fill out the comments box below.

© 2009 – 2013 Rosalie Marcus

Want expert help growing your promotional products business?  Click the link to preview the programs and products created to quickly and easily grow your promotional products sales. 

Not sure which program or product is right for you? Contact Rosalie for a brief, no obligation, personal consultation. Reach her at Rosalie@promobizcoach.com

Rosalie Marcus, The Promo Biz Coach ™ is a promotional products business expert, coach and speaker. Combining her skills and years of experience in promotional sales, she helps her clients sell more at higher profit margins and dramatically increase their incomes! Get a FREE special report: 10 Big Mistakes Promotional Professionals Make and How to Avoid Them and a FREE Skyrocket Your Sales audio download at http://www.promobizcoach.com. 

Reach her at Rosalie@promobizcoach.com or 215-572-6766.

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