6 Simple Techniques For 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 by the same clients or the sales of a product to new customers. It could require no personal involvement in any respect, like an e-book offered on a web site, or it can 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 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 from recurring work which restricts on your earning capacity based on your own personal production capacity. .
This leverages the work of different people to create income for you. Some examples of leveraged income include:
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An e-book author selling her e-book through affiliates who promote the product.A network marketer who 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 supreme leveraged income). .
Again, there are many different versions in many different businesses. The key is that you are making money from other people's labour, rather than mainly your own. Note that leveraged income might or might not be residual income. When you combine them, that is even better.
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This type of income requires your immediate 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 a lot greater than if someone was 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. .
In the smart ideas 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 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 streams there were.
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Unfortunately no one has even till this afternoon made an entire list. So I spent the past week getting loaded 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 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 mad, 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 own iPhone every morning as sale after sale after sale is madeon an ongoing basis and without any additional effort.
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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 below, bought through sweat (eg ebook)!
Who doesnt enjoy some down and dirty affiliate fees! Especially in the event that you understand it can be even easier to make money in this way than using an ebook. In the end, you simply need to concentrate on pumping out some content for 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 several years ago that this might end up being my #1 source of passive income, I would have slapped you silly and called the men in white coats 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 gets. .