What Is The Secret? By Steph Bester: 1 December 2014 - Fdp 19/A2

The correct answer is "It is an annuity based business." An annuity is a financial product that provides a fixed sum of money at regular intervals, typically annually. In the context of a business, an annuity-based business refers to a business model where the company earns a steady stream of income from existing customers or clients over an extended period of time, without relying on generating new revenue. This could be through long-term contracts, subscription-based services, or recurring payments. Therefore, the business can continue operating for several years without needing to generate any new revenue because it already has a reliable source of income from its existing customer base.

An annuity-based business refers to a business model where a product is sold to a customer once, and then the customer continues to make regular payments or contributions over a specified period of time. This allows for a steady stream of income for the business without the need for continuous sales efforts. Therefore, the statement that an annuity-based business means you only have to sell the product to a customer once is true.

This statement suggests that the business opportunity being discussed has the potential to generate a significant amount of recurring income for South Africans. This means that individuals can continue to earn money from their business even after they have put in effort and work for several years. The answer is true because it confirms that the business offers this opportunity.

Steph speaks about the basics of building a big book, which include achieving ownership, promoting other owners, emphasizing the importance of the product in customer retention, and understanding that a happy customer is more likely to continue being a paying customer. Therefore, the correct answer is "All of the above."

The given question asks for a preference between four options. The answer states that the preferred option is Option 1.