Understand the Potential

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Single Source Income Can Be Dangerous to Your Wealth & Lifestyle.

So what is a single source income? It’s the old story putting all your eggs in one basket. An example is investing all your money in one stock. With one single source income, such as a job, there really is no security these days. You are relying on that someone you work for to keep the paychecks coming, but at any moment and without warning your only source of income can be cut off without missing a heart-beat by Mr. or Ms. Check-Signer. Maybe it has already happened to you. But there is always the option of going into business for yourself.

Let’s say with CCS you have 20 accounts. If you lose one you have only lost 5% of your income. 100 accounts is 1% of your income. In the real world from time to time you will always lose an account for one reason or the other. The reality is that all the circumstances are not under your control 100%. But, compare this to losing your single source of income in one moment. Being in business for yourself you have options. In our industry there are thousands of potential accounts to contact and perhaps the new account will be even more profitable than the last. Others do not rule your financial life and for that reason it is you who has control of your financial future. Single source income can be dangerous to your wealth & lifestyle as many of us has learned.

 

 The Advantage of Multiple Sources of Income and Residual Passive Income

Your income is generated by your client list. This can mean a few, if not hundreds of accounts. Once the account is sold on the sample product they will continue to purchase from you again and again. Yes, getting the first sale can be difficult at times. But it gets easier the second time, and so on. You will enjoy the income of repeat sales when you build relationships of trust.

Clean * Correct products are consumables and have a short selling cycle. This means that once the account is satisfied with your products they will continue to reorder when their supply gets low and you get to enjoy the profits from the reorders for all the years to come. It’s called passive income because in retaining an account you don’t have to put in the same amount of time and effort that you did to obtain the account in the first place. Once you have sold someone it is much easier to sell them a second and third time and so on.

 

The Disadvantage of Non-Consumable Products

The disadvantage of owning a business that offers non-consumable products is the long selling cycle. There is usually a considerable time lapse between the first sale and the second. It can be years before the account needs to re-order. This means you need to continually open new accounts, which takes more time. An example of this is a printer, which buyers expect to last for several yeas. . You have to sell a lot of printers to maintain a steady income.

Today manufacturers virtually give their printers away because they know they will make their money on selling the consumable inks. And if you have a printer, you know how much ink it soaks up. That is the beauty of selling consumables. Short selling cycle and lots of repeat sales. Our accounts can order every month, every other month or after several months and even several times a month after they have run out of products. You have to agree, selling consumables to satisfied accounts is a lot easier than opening a new account every time for a one-time profit. And, I say again, there is the steady, residual, passive income that can go on for many years to come.

 

LTV – Life Time Value of a Satisfied Account.

Every business owner needs to understanding and appreciate the LTV and how critical it is to your earnings. Here’s how it works. You have opened a new account. The objective now is to retain the account forever. For examples, when your account re-orders 6 times a year and your profit per order is $215 in one year that account has generated $1,260.00 profit on that one product in a year. And, that account could order every month. Do the math. And once you have established a quality relationship with the account they are open to ordering other products from you. Now do the math if you retain an account for a period of 5, 10, 20 or more years. Relationships like this are rock solid. Good relationships build passive income. A large account can earn you thousands of dollars every year. Today many account executives working full time can service a hundred accounts or more. Even part time you will produce many profitable accounts.

 

Most Important Every New Product you Introduce to an Existing Account Multiplies Your Income

Because you introduce new products that are consumables to an existing account, one account can result in your getting paid for your first effort and time, over and over again, versus working and getting paid by the hour. Each new product multiplies and produces its own stream of residual, passive income.

 

Potential Earnings in One Small Town

In a small town of say 2,000 people there are many accounts you can service. Everyone who owns a building, apartments, retail facilities, industrial manufacturing plants, institutions such as hospitals, schools, churches, municipal facilities such as city hall, police, fire, water works, community centers, nursing homes and more. This is simply for a small town. In cities the potential client list multiplies. And by employing our proven marketing system you too can enjoy the profits of this industry. The number of accounts out there is unlimited.

 

Tax Advantages

Working from your home has some tax advantages. Check these out. Office space, telephone, travel, auto, and a lot more that any accountant will tell you.

 

The Pay Off

A good majority of account executives in the specialty chemical industry enjoy very high earnings. Going back to the 1970’s some people were earning $100,00 and more.  For example,  Maurice was an immigrant who spoke broken English. He jointed our company when he was 56 and worked in the industry into his late 70’s.;  Roger was struggling in sales before he joined our company, worked in Quebec and thrived;   Curt joined our company part-time when he as 81 and earned $24,000 in a year.;  Don, a big talker, earned $60,000 a year.

In the 1980’s we had 97 sales reps working in Canada,  USA and Australia. About 20% earned over $100,000.  Some close to it. The lowest earners were those who worked part-time.  Most earned $40,000 to $70,000.  Today they would be earning even more.

 

 

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