|
Author: Cathy Stucker Article source: http://www.kabish.com/. Used with author's permission.
What would it be worth to you to receive a steady stream of new customers with little or no effort on your part? Would you be willing to pay 10% of the revenue they generate? 20%? 50%? Or do you believe that you can't afford to pay anything?
During a recent discussion, I was surprised that people said they could not afford to 'give up' 20% in commissions to reach new customers. If you have more work than you can handle, that makes sense. However, most of the people who take this position do so because they think it is 'not fair' that someone else get a percentage of the money they believe is theirs. My question is: Would you rather have 100% of nothing, or a smaller percentage of something?
I have taught courses at several places where my compensation was a revenue share. Typically, I received 50% or less-often much less-of the fees the students paid. Many instructors think this is unfair. After all, if they are presenting the course, shouldn't they get the bulk of the money paid by students?
Break down what is actually involved in making the course happen, and it all makes more sense. The sponsor provides a place to present the course, lists it in their catalog and does other marketing (a big expense), takes registrations (including absorbing credit card fees) and handles student questions and issues. I could do these tasks, but they take time and money. Plus, I don't enjoy them. I prefer to use my resources on the part I enjoy most and do best-presenting a great course.
Instead of worrying about someone else also making money from 'my' course, I look for ways to increase the income I generate, including publicizing the class to attract more students, providing a required or optional text for an additional fee, and keeping in touch with students after the course so that they can become long-term customers.
When offered a commission or revenue-sharing arrangement, consider the following:
Do you have more of the product than you are currently selling, or the ability to create more? Do you have time to provide additional services?
Will your pricing accommodate paying a percentage of revenue to someone who will refer clients to you? If not, maybe your rates are set too low.
What does it currently cost you (in time and money) to get a client? If you spend little money but lots of time, don't forget the value of that time. Wouldn't it be better to increase your billable hours, even if you only net 80% of your regular rate for those additional hours?
What else will you get from the relationship? Perhaps you will gain visibility from the referrer's web site, newsletter or catalog. The clients referred to you may become repeat customers who do business with you for years to come (and depending on your arrangement, you may only pay commissions on the deal referred directly to you, not repeat business).
Don't overlook the value of having partners to help you grow your business. Copyright Cathy Stucker. As the Idea Lady, Cathy Stucker can help you attract customers and make yourself famous with inexpensive and free marketing ideas. Get free marketing strategies, articles and more at http://www.IdeaLady.com/.
Internet Marketing - The Easy Way to Make Money?
WE HAD THE KNOWLEDGE TO RANK NUMBER ONE IN GOOGLE FOR ANY KEYWORD - MONEY IT SEEMED DID GROW ON TREES!
NASA Budget Space Shuttle Thoughts
Regarding the issues with the Space Shuttle and the in flight explosion of the Columbia. I believe that of course that hindsight is always easy to use to place ...
Hey Bozo, Forget Logic and Kiss This!
I want to relate to you a story, READ it carefully; for in it lay the hidden secrets of the great mystery of the super successful. There was once a bridge whic...
Get your Dream Car – Get a Car Loan
You've probably spent years thinking that your dream car is out of your reach. But have you though about a car loan? That car you've always wanted could be just...
Why You Must Learn to Forgive for the Sake of Your Own Happiness
Learning to forgive others is a crucial part of our own spiritual growth. Learn to let go of negative energy and you will open yourself up to attract more posit...
The Four Smartest Ways to Spiral Your Website Traffic
While pay-per-click may be a good business model for your website, there's nothing like free traffic to lay the foundation. Following are the four best ways we...
Blame Culture Blues - How the Language of Blame Manifests Organisational Underperformance
Some companies talk about having a no-blame culture however the sheer fact that they identify this as an issue raises the thought in peoples minds and can have ...
Should You Try Online Dating? Three Quick Questions Help You Find Out
It is quite well known that online dating is fast becoming one of the most popular methods used to meet other people. While the greatest issue facing online da...
Content Management – The New Standard in Web Design
The evolution of web development parallels the model of technology spending by companies today. The style and method has transformed along with the business sp...
My Puppy Chews a Lot - Mostly on Me
Tips about chewing behavior, how to deal with it, not to worry about it, very normal, common to puppies. HealthyPetNet Life's Abundance All Natural Pet Product...
What is Compost Tea?
Organic gardeners all know compost is fantastic stuff. But now, there's something even better and that's compost tea. If you start with a good compost you'll h...
The Secret To Promoting Sites With Articles
Publishing articles on the Internet is a tremendous way to increase the number of inbound links to your site. As articles are assimilated into search engine ind...
T.L.S. Part II: Maximizing Tier Level Selling Through Incentives
Incorporating a Tier Level Selling program without reviewing the way sales representatives are paid may lead to improved results, but these results will likely ...
China Finds Humans to Test Bird Flu Vaccine On, in Qinghai
China is serious about breaking into the bio-tech field and has a vaccine to stop H5N1 Bird Flu strain. Recently they admitted over 160 people died and today th...
Gambling History of United States
Against the popular belief, gambling did not originate in the US. Most of the popular gambling games played in the American casinos have their origin in various...
Home Loans For People With Bad Credit - Tips To Getting Approved Online
Getting approved for a home loan online can be simple, if you know where to apply and what to look for in a bad credit mortgage lender.
Adirondack Chairs - How to Care for and Clean Them
The key to caring for your Adirondack chair involves many different factors such as outdoor temperature, humidity, precipitation, use, and so on.
Does Retirement Fit Into Your Busy Schedule?
It's a question every employee asks themselves at some point in their career. Considering the steady increase in job stress over the years, this question is be...
Train a Winning Sales Team: Rounding Third and Heading for Home
Just as a coach can't swing the bat for the player at the plate, we can't be with our teams every play of the game. We must share our best techniques for sales...
Ready, Set, Action!
James 2:17 Faith by itself, if it is not accompanied by action, is dead. 2:24 You see that a person is justified by what he does and not by faith alone.
Let Her Be Covered Part Two
A Serious article for the christian teen and young adult. This is part two.
Credit Cards - The Top 3 Things You Need To Know
Today there are so many different credit cards available, that it has becomes a real hassle to find the right one that will suit your needs. We give you 3 thing...
Modern Wedding Invitations for the Tragically Hip
Choosing and designing modern wedding invitations.
Your Skin can Speak Volumes
Everyone dreams of having skin that is healthy, smooth and radiant. This state of skin perfection would have to derive from proper and attentive care. Your skin...
|
Print this page