The Definitive Guide for Residual Income In Switzerland - Passive Residual Income
There are many different ways to generate residual income across a wide variety of businesses. It might be recurring income from the same customers or the earnings of a product to new clients. It may require no personal involvement whatsoever, like an e-book sold on a website, or it can need some personal interaction, like 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. By way of instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday into the local school board has recurring income, however it comes in recurring work that restricts on your earning capacity based on your own personal production capacity. .
This frees 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 builds a downline and receives commissions on the sales made by people in his downline.A general contractor who makes a profit margin on the job 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 are making money off of other people's labour, rather than primarily your own. Note that leveraged income may or may not be residual income. When you combine them, that's even better.
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This type of income requires your immediate participation, but you can earn more money by having more people involved. This generally involves a one-time event, for example:
Though these need your direct participation, your earning potential is a lot greater than if someone was paying you a direct hourly fee. Fill a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional price, and staffing Read Full Article prices and have a nice chunk of change left over. .
In the smart ideas like an online path to the dress-me-in-the-white-jacket ideas like writing posts for adsense, Ive thought about pretty much every passive income stream there's.
During this time the one thing I wanted more than anything else, was a large fat epic list of all of the potential passive income flows there were.
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Unfortunately no one has even until this day made a complete list. I spent the past week getting loaded on strong Ethiopian espresso and compiling every different income flow from my head, my notes and the world wide interwebs!
PS if you want to cut to the chase you can get access to 3 of my favorite passive income thoughts 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 crazy, eg write a quality 20,000 word ebook (insanely not passive hahahah), but then you have to sit back and enjoy seeing PayPal sale messages pop up on your iPhone every morning as sale after sale after sale is madeon an ongoing basis and without any additional work.
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As you can see passive income flows simply come from resources, and assets are either bought with money (eg rental property) or even in the case of most of the ideas below, purchased through perspiration (eg ebook)!
Who doesnt like some down and dirty affiliate commissions! Particularly if you realize it can be even simpler to earn money in this way than using an ebook. After all, you simply need to concentrate on pumping some content for your own site and getting the visitors in, often via Google or social websites. Unsurprisingly, the majority of people can enjoy their first affiliate sale within 30 days of starting a site. Continue reading .
If you told me a few years back that this might end up being my #1 source of passive income, I would have slapped you silly and called up the my company men in white jackets to come take you away! And thats because back then selling products online was insanely complicated and time consuming. Pretty much as non-passive as a business gets. .