The Basic Principles Of Residual Income Ideas In Switzerland
There are many different ways to generate residual income across a wide variety of businesses. It might be recurring income by the same customers or the sales of a product to new customers. It may necessitate no personal involvement whatsoever, like an e-book sold on a website, or it may 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 mentor or consultant on a monthly retainer, or a secretary who delivers lunch each Monday into the local school board has recurring income, however it comes from recurring work that limits on your earning capacity based on your own personal production capacity. .
This frees the work of different folks to make income for you. A Few Examples of leveraged income include:
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An e-book writer selling her e-book through associates that 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 to 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 type of income requires your direct participation, but you can make more money by having more people involved. This generally involves a one-time event, such as:
Although these require your immediate participation, your earning potential is a lot greater than when someone was paying you a direct hourly rate. 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. .
In the smart notions like an online course to the dress-me-in-the-white-jacket notions like writing articles for adsense, Ive thought about pretty much every passive income flow there is.
During this period the one thing I wanted more than anything else, was a big fat epic record of all of the possible passive income flows there were.
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Unfortunately no one has even until this afternoon made an entire list. I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income flow from my mind, my notes and the world wide 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 beloved real life passive income businesses here.
Ie first you need to haul ass and do something mad, 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 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 streams simply come out of resources, and resources are either bought with money (eg rental property) or even in the case of most of the ideas below, purchased through sweat (eg ebook)!
Who doesnt like some down and dirty affiliate fees! Especially if you understand it can be even simpler to earn money this way than with an ebook. In the end, you merely need to concentrate on pumping out some content for your own site and getting the traffic 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 .
If you told me a few years ago that this would end up being my #1 source of passive income, I'd have slapped you silly and called up the men in white jackets to go right here take you away! Look At This And because back then selling goods online was insanely complex and time consuming. Pretty much as non-passive as a business gets. .