The Only Guide for Residual Income In Switzerland
There are many different ways to generate residual income across a wide variety of businesses. It might be recurring income by the very same clients or the earnings of a product to new clients. It could necessitate no personal involvement whatsoever, such as an e-book sold 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 that might 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 from recurring work that limits on your earning ability 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 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 work done by subcontractors.Franchising your business model into other entrepreneurs (the ultimate leveraged income). .
Again, there are many different models 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 sort of income requires your immediate 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 direct participation, your earning potential is a lot higher than when someone was paying you an immediate hourly fee. Fill in a room with 1,000 individuals 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 notions 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 period the one thing I wanted more than anything else, was a big fat epic list of ALL the possible passive income flows there were.
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Unfortunately no one has even until this day 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 get access to 3 of my preferred passive income thoughts 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 get 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 work.
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Because you can observe passive income flows simply come from resources, and assets are either bought with money (eg rental property) or in the event of most of the ideas below, purchased through sweat (eg ebook)!
Who doesnt like some down and dirty affiliate commissions! Particularly in the event that 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 media. Unsurprisingly, most people can enjoy their first affiliate sale within 30 days of starting a site. Continue reading .
If you told me several 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 coats to take you away! And because back then selling products online was insanely complicated and time consuming. Pretty much as non-passive as a business receives. .