Residual Income Ideas In Switzerland for Dummies
There are many different ways to generate residual income over a huge variety of businesses. It may be recurring income from the same customers or the earnings of a product to new clients. It could require 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 customer to remind them regarding their renewal.
Note that this is different from recurring income that might still require your involvement to earn your income. For instance, a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to the local school board has recurring income, but it comes in recurring work which 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 author selling her e-book through associates who promote the product.A network marketer who 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 models in many different businesses. The key is that you are making money from other people's labor, rather than mainly your own. Note that leveraged income may or may 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 make more money by having more people involved. This generally involves a one-time event, such as:
Though these require your direct participation, your earning potential is much greater than when someone was paying you a direct hourly fee. Fill in a room with 1,000 people paying $50 each and you can cover your facility cost, promotional price, and staffing fees and still have a nice chunk of change left over. .
From the smart ideas like an online course to the dress-me-in-the-white-jacket ideas like writing posts for adsense, Ive thought about pretty much every passive income flow there is.
During this time the one thing I wanted more than anything else, was a large fat epic list of ALL the possible passive income streams there were.
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Unfortunately no one has even till this afternoon made a complete list. So I spent the last week getting loaded on strong Ethiopian espresso and compiling every different income stream from my head, my notes and the net interwebs!
PS if you want to cut to the this page chase you can get access to 3 of my preferred 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 blossom (insanely not passive hahahah), but then you get to sit back and enjoy seeing PayPal sale messages pop up on your iPhone every 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 from resources, and resources are bought with money (eg rental property) or even in the event of almost all of the ideas under, purchased through sweat (eg ebook)!
Who doesnt enjoy some down and dirty affiliate commissions! Especially if you understand it can be even simpler to make money in this way than using an ebook. After all, you simply need to concentrate on pumping some content to your own site and getting the traffic in, often via Google or societal websites. Unsurprisingly, most people can enjoy their very first affiliate sale within 30 days of starting a site. Continue reading >.
If you told me a few years ago that this might end up being my #1 source of passive income, I'd have slapped you silly and called have a peek at this site up the men in white coats to take you away! And because back then selling goods online was insanely complicated and time consuming. Pretty much as non-passive as a business receives. .