Residual Income In Switzerland - The Facts
There are many different ways to generate residual income across a wide array of businesses. It might be recurring income from the same clients or the sales of a product to new customers. It may necessitate no personal involvement whatsoever, such as an e-book offered on a web site, or it may 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 which may still need your involvement to earn your income. By way of instance, a mentor 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 from recurring work that restricts on your earning ability based on your own personal production ability. .
This leverages the work of other 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 affiliates who promote the product.A network marketer who assembles a downline and receives commissions on the sales made 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 versions in many different businesses. The key is that you're making money off of other people's labour, rather than mainly 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 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:
Though these need your immediate participation, your earning potential is a lot higher 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 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 notions like writing articles for adsense, Ive thought about nearly every passive income stream there's.
During this time the one thing I wanted more than anything else, was a large fat epic record of ALL the potential 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 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 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 get to sit back and enjoy seeing PayPal sale messages pop up on your own 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 assets, and resources are bought with money (eg rental property) or in the case of almost all of the ideas under, bought through sweat (eg ebook)!
Who doesnt enjoy some down and dirty affiliate commissions! Particularly if you realize it can be even easier to earn 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 societal media. Unsurprisingly, most 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 up the look at more info men in white coats to take you away! And thats because back then selling goods online was insanely complicated and time consuming. Pretty much as non-passive as a business receives. .