The Of Residual Income In Switzerland - Passive Residual Income
There are many different strategies to generate residual income over a wide array of businesses. It might be recurring income from the same customers or the sales of a product to new clients. It could necessitate no personal involvement whatsoever, such as an e-book offered on a website, 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 that might still require your involvement to earn the income. For instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch each Monday into the local school board has recurring income, but it comes from recurring work which limits on your earning ability based on your own personal production capacity. .
This leverages the work of other folks to create income for you. Some 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 job done by subcontractors.Franchising your business model into other entrepreneurs (the ultimate leveraged income). .
Again, there are many different versions in many different businesses. The key is that you're making money from other people's labour, rather than primarily your own. Note that leveraged income might or might not be residual income. When you combine them, that's 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, for example:
Although these need your direct participation, your earning potential is a lot higher than if someone was just paying you an immediate hourly fee. Fill a room with 1,000 people paying $50 each and you can cover your facility price, promotional price, and staffing fees have a peek here and still have a nice chunk of change left over. .
In the smart notions like an online path to the dress-me-in-the-white-jacket notions like writing articles for adsense, Ive thought about nearly every passive income stream there is.
During this period the one thing I wanted more than anything else, was a big fat epic record 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. So I spent the last week getting loaded on strong Ethiopian espresso and compiling every different income stream 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 favorite 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 crazy, eg compose a quality 20,000 word blossom (insanely not passive hahahah), but then you have to sit back and enjoy seeing PayPal sale messages pop up on your iPhone each morning as sale after sale after sale is madeon an ongoing basis and without any additional effort.
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Because you can observe passive income flows simply come out of resources, and assets are bought with money (eg rental property) or even in the case of most of the ideas below, bought through sweat (eg ebook)!
Who doesnt like some down and dirty affiliate commissions! Especially if you understand it can be even simpler to make money this way than using an ebook. After all, you merely need to concentrate on pumping out some content to 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 blog. 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 the men in white jackets to come take you away! And thats because back then selling products online was insanely complex and time consuming. Pretty much as non-passive as a business receives. .