The Single Strategy To Use For Residual Income In Switzerland - Passive Residual Income
There are many different ways to generate residual income across a wide variety of businesses. It may be recurring income by the same clients or the earnings of a product to new customers. It may require no personal involvement whatsoever, such as an e-book sold on a website, or it can require some personal interaction, such as the insurance agent calling the customer to remind them about their renewal.
Note that this is different from recurring income which may still require your involvement to earn your income. For example, a coach or consultant on a monthly retainer, or a secretary who delivers lunch each Monday to the local school board has recurring income, but it comes from recurring work that restricts on your earning capacity based on your own personal production capacity. .
This leverages the work of other people to make income for you. A Few Examples of leveraged income include:
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An e-book author selling her e-book through associates who promote the product.A network marketer that assembles a downline and receives commissions on the sales generated by people in his downline.A general contractor who makes a profit margin on the work done by subcontractors.Franchising your business model into other entrepreneurs (the supreme leveraged income). .
Again, there are many different versions in many different businesses. The key is that you are making money off of other people's labour, rather than mainly your own. Note that leveraged income might or might not be residual income. When you combine them, that is even better.
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This sort of income requires your immediate participation, but you can make more money by having more people involved. This generally involves a one-time event, for example:
Though these require your direct participation, your earning potential is much higher than if someone was just paying you an immediate hourly fee. Fill in a room with 1,000 people paying $50 here are the findings each and you can pay for your facility price, promotional cost, and staffing prices and have a nice chunk of change left over. .
In the wise notions like an online path to the dress-me-in-the-white-jacket notions like writing posts for adsense, Ive thought about nearly every passive income flow there is.
During this period the one thing I wanted more than anything else, was a large fat epic record of all of the potential passive income flows there were.
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Unfortunately no one has even till this afternoon made an entire list. So I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income stream from my mind, my notes and the net interwebs!
PS if you want to cut to the chase you can get access to 3 of my preferred passive income ideas right here or you can check out 30 of my favorite real-life passive income businesses here.
Ie first you need to haul ass and do something mad, eg compose a quality 20,000 word ebook (insanely not passive hahahah), but then you get to sit back and enjoy seeing PayPal sale messages pop up on your iPhone each morning available after sale after sale is madeon an ongoing basis and without any additional work.
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Because you can see passive income flows simply come from resources, and resources are bought with money (eg rental property) or even in the case of most of the ideas below, purchased through sweat (eg ebook)!
Who doesnt enjoy some down and dirty affiliate commissions! Especially if you understand it can be even easier to earn money in this way than with an ebook. In the end, you merely need to concentrate on pumping out some content to your own site and getting the visitors in, often via Google or social media. Unsurprisingly, most people can enjoy their first affiliate sale within 30 days of starting a site. Continue reading >. internet
If you told me a few years ago that this might end up being my #1 source of passive income, I would have slapped you silly and called the men in white coats to come take you away! And because back then selling products online was insanely complex and time consuming. Pretty much as non-passive as a business gets. .