Residual Income Ideas In Switzerland for Dummies
There are many different ways to generate residual income over a wide variety of businesses. It may be recurring income from the same clients or the earnings of a product to new customers. It may necessitate no personal involvement whatsoever, such as an e-book offered on a web site, or it can require some personal interaction, such as the insurance agent calling the client to remind them regarding their renewal.
Note that this is different from recurring income which may still require your involvement to earn the income. For instance, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to the local school board has recurring income, however it comes from recurring work which limits on your earning capacity based on your own personal production ability. .
This frees the work of other people to create income for you. A Few Examples of leveraged income include:
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An e-book writer selling her e-book through affiliates that promote the product.A network marketer who assembles a downline and receives commissions on the sales made 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 ultimate leveraged income). .
Again, there are many different models in many different businesses. The key is that you're making money off of other people's labour, rather than primarily your own. Note that leveraged income might or might not also be residual income. When you combine them, that is even better.
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This sort of income requires your direct participation, but you can earn more money by having more people involved. This generally involves a one-time event, such as:
Though these need your immediate participation, your earning potential is a lot greater than if someone was just paying you a direct hourly fee. Fill in a room with 1,000 people paying $50 each and you can pay for your facility price, promotional cost, and staffing prices and still have a nice chunk of change left over. .
From the smart notions like an online course to the dress-me-in-the-white-jacket notions like writing posts for adsense, Ive thought about pretty much every passive income flow there's.
During this time the one thing I wanted more than anything else, was a big fat epic record of all of the possible passive income streams there were.
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Unfortunately no one has even until this afternoon made an entire list. I spent the past 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 thoughts 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 blossom (insanely not passive hahahah), but then you have to sit back and enjoy view seeing PayPal sale messages pop up on your own iPhone every morning available after sale after sale is madeon an ongoing basis and Full Article without any additional effort.
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As you can see passive income flows simply come from resources, and resources are bought with money (eg rental property) or in the case of most of the ideas below, bought through sweat (eg ebook)!
Who doesnt like some down and dirty affiliate fees! Especially in the event that you understand it can be even simpler to make money this way than using an ebook. After all, you simply need to concentrate on pumping out some content for your own site and getting the visitors in, often via Google or societal websites. Unsurprisingly, most people can enjoy their first affiliate sale within 30 days of starting a blog. Continue reading .
If you told me several years ago that this would end up being my #1 source of passive income, I'd have slapped you silly and called the men in white jackets to come take you away! And because back then selling products online was insanely complicated and time consuming. Pretty much as non-passive as a business gets. .