Have you ever had a cold? Of course you have. And have you ever given that cold to someone just through passing without knowing that you gave them your cold? The answer to that is probably yes too. Often times this happens in the workplace or in the home or anywhere that people tend to hang out. What happens when the person you gave the cold gets around more people? Yes, they pass the cold right along just like you passed it to them.
A lot of businesses are built around the premise of people passing something around. And sadly enough some businesses are toppled on the premise of people passing something around too. What people pass around the most when it comes to talking about a business is their experience with that business. If they had a pleasant experience most people wont hesitate to tell someone else and that goes double if they had a not so pleasant experience.
When people pass around word of mouth that is positive about a business that allows that business to grow and make a residual income. This type of income is made when customers continue to come back to patronize a business. Making this residual income can be the deciding factor most times when it comes to the longevity of a business.
Take a minute to think about your consumer value. Lets say you enjoy a certain food establishment and you frequent it about once a week, or month, or even once a year.
When that restaurant looks at you they see someone that is very valuable because even if you only came once a year that would still add up to money for the restaurant year after year.
This establishment sees you as a residual income source because you keep coming back and spending your money with them, regardless of how infrequently you do it.
Once you are able to harness the power of giving away a cold along with giving your customers good experiences, you will be able to start and grow a great residual income business.
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