The Definitive Guide to Residual Income In Switzerland - Passive Residual Income
There are many different ways to generate residual income across a huge array of businesses. It may be recurring income by the same customers or the earnings of a product to new customers. It could require no personal involvement whatsoever, like an e-book offered on a web site, or it can need 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 which may still need your involvement to earn the income. For example, a coach or consultant on a monthly retainer, or a caterer who delivers lunch each Monday into the local school board has recurring income, but it comes in recurring work which restricts on your earning ability based on your own personal production ability. .
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 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 to other entrepreneurs (the supreme leveraged income). .
Again, there are many different versions in many different businesses. The key is that you are making money off of 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 immediate participation, but you can make more money by having more people involved. This generally involves a one-time event, for example:
Though these require your direct participation, your earning potential is much greater than when someone was paying you a direct hourly rate. Fill a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional price, This Site and staffing prices and have a nice chunk of change left over. .
In the smart notions like an online course to the dress-me-in-the-white-jacket ideas like writing articles for adsense, Ive thought about nearly every passive income flow there is.
During this time the one thing I wanted more than anything else, was a big fat epic record of all of the possible passive income streams there were.
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Unfortunately no one has even until this afternoon made a complete list. I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income stream from my head, my notes and the world wide interwebs!
PS if you want to cut to the chase you can her comment is here get access to 3 of my preferred passive income thoughts right 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 write a quality 20,000 word blossom (insanely not passive hahahah), useful site but then you have 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 effort.
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As you can see passive income flows simply come out of resources, and assets are bought with money (eg rental property) or in the event of most of the ideas under, bought through sweat (eg ebook)!
Who doesnt like some down and dirty affiliate commissions! Especially if you realize it can be even simpler to earn money in this way than using an ebook. After all, you merely need to concentrate on pumping out some content for your own site and getting the traffic in, often via Google or social websites. Unsurprisingly, the majority of 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 would have slapped you silly and called up the men in white jackets to take you away! And thats because back then selling goods online was insanely complex and time consuming. Pretty much as non-passive as a business gets. .