Gifting provides an effective way to enjoy financial independence for those who understand it and work diligently to help others. It brings people together in an unusual way....giving back monetary and other gifts as they receive the same from others. And with the economy in such bad shape these days, gifting has become more appealing than ever to those who wish to build a residual income.
What is gifting? Gifting is the act of giving gifts (mainly money gifts) to those on a recipient's list and then recruiting others to do the same. "The more you give, the more you'll receive" is the motto and heartbeat of gifting. If you give sparingly, you'll receive little. But if you give more, you'll receive more. The good news is you can start out by giving just a little and increase your giving as you're able. Gifting is not operated by a particular company, although there are websites designed to help you keep up with your records of giving and receiving.
The reason gifting has become a popular way of building cash flow from home is you can receive thousands of dollars in gifts before ever being taxed (in the U.S.) on the money. This enables you to earn more tax-free income while working toward your financial independence. Now that you know a little about gifting, here are three steps to gifting success.
1. Promote Your Gifting Endeavor Daily
Create a daily promotional goal sheet and do the tasks necessary daily to reach your gifting goals. There are many ways to find prospects online and off-line. Online, build a website of your own and do some research on keywords related to gifting. Don't forget that many of your prospects have never heard the term "gifting" and will be searching for home business opportunities instead. They might type in keywords such as "home business ideas," "ways to earn residual income," "how to increase cash flow," or "work from home ideas." Any variation of these keywords should be researched to find words and phrases that are popular in the searches. Add the keywords strategically throughout all your pages. Do some research on SEO (search engine optimization) techniques to get even better results.
Even if you were issued your own version of a gifting website by a company, be sure to design your own unique website and/or landing page to drive traffic to the main page. You'll need a unique site with unique content to attract search engine traffic. You can also pay for traffic with pay-per-click programs to boost your visits. Be sure to capture the e-mails of your visitors and e-mail them using an "opt-in" mail system that complies with e-mail/spam laws. Also, use advertising such as e-zine ads, article directories, blogs, social bookmarking, e-books, and other campaigns to drive traffic to your site.
Off-line, you can take advantage of work-at-home magazine ads, newspaper classifieds, direct mail, and perhaps joint ventures with a few local businesses.
2. Budget Your Money Wisely
Don't expect a residual income to start flowing into your wallet over night. Budget every dime you receive and stretch your spending over time just as you would any other business. Just because you received a large amount of money this week - it doesn't mean you will for the remainder of the month. You might have to live on that amount for a while. Keep detailed records of your budget, and be sure to allow for spending on advertising and website maintenance, which are both business expenses.
Keep up-to-date with current tax laws and restraints on gifting so you'll be able to budget for any tax amount due. Once you reach a certain level of income, you'll likely have to start paying quarterly or monthly estimated taxes for federal income tax. You may also need to report to your state monthly, even if you don't collect sales tax. Have all your ducks in a row and keep accurate records of your gifting practices.
3. Keep the Contact Flowing with Givers and Receivers
One factor in making the gifting system work is to keep constant contact with others who are doing the same. You can share ideas and help one another through slow times. You can build lasting friendships and learn how to strive for long-term success by having some mentors. For those you recruit, keep an opt-in, follow-up e-mail system running so you can stay in touch. You can offer free tips on gifting, and give one-on-one training to newbies. As you help other people succeed in gifting, the rewards will come back to you and others before you.
Even if you already own a home business, gifting can be added to supplement your income and increase cash flow for your business. It's a great way to network with other people and build a lasting residual income!
Article Directory: http://www.articletrunk.com
Chris Robertson is an author of Majon International, one of the worlds MOST popular internet marketing companies.
For tips/information, click here: gifting
Visit Majon's entrepreneurs-ideas-opportunities directory.
Please Rate this Article
Not yet Rated