Residual Income In Switzerland - Passive Residual Income for Dummies
There are many different ways to generate residual income across a huge variety of businesses. It might be recurring income from the same customers or the earnings of a product to new customers. It may require no personal involvement whatsoever, like an e-book offered on a website, or it can need some personal interaction, like the insurance agent calling the customer to remind them regarding their renewal.
Note that this is different from recurring income which may still require your involvement to earn the income. By way of example, a coach or consultant on a monthly retainer, or a secretary who delivers lunch every Monday to the local school board has recurring income, but it comes from recurring work which restricts on your earning capacity based on your own personal production capacity. .
This frees the work of other people to make income for you. Some examples of leveraged income include:
Residual Income In Switzerland - An Overview
An e-book author selling her e-book through affiliates that 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 ultimate leveraged income). .
Again, there are many different models in many different businesses. The key is that you're making money from 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 direct participation, but you can earn more money by having more people involved. This generally involves a one-time event, such as:
Though these need your immediate participation, your earning potential is much higher than when someone was paying you an immediate hourly fee. Fill a room with 1,000 individuals paying $50 each and you can cover your facility price, promotional price, and staffing prices and still have a nice chunk of change left over. .
In the wise ideas like an online path 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 of the possible passive income flows there were.
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Unfortunately no one has even until this day made an entire list. I spent the last week getting loaded on strong try this website Ethiopian espresso and compiling every different income stream 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 preferred passive income ideas 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 compose a quality 20,000 word ebook (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 work.
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As you can this content observe passive income streams simply come from assets, and resources are bought with money (eg rental property) or even in the case of most of the ideas under, bought through sweat (eg ebook)!
The much loved model for bloggers and content creators everywhere and for a good reasonits pretty simple to compose a 60-80 page ebook, not hard to market say $500 value a month through online networking, guest posting and your own SEO optimized blog, and well you get to keep a large whack of this pie after paying affiliates. Hells yeah! Continue reading .
Who doesnt like some down and dirty affiliate commissions! Particularly if you realize it can be even easier to earn money 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 visitors in, often via Google or societal media. Unsurprisingly, the majority of 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'd have slapped you silly and called up the men in white check my reference coats to come take you away! And thats because back then selling products online was insanely complicated and time consuming. Pretty much as non-passive as a business gets. .