Residual Income Ideas In Switzerland Fundamentals Explained
There are many different ways to generate residual income over a huge variety of businesses. It may be recurring income from 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 website, or it may require some personal interaction, like 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 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 leverages the work of other folks to make income for you. Some examples of leveraged income include:
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An e-book writer selling her e-book through affiliates that promote the product.A network marketer who 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 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 off of other people's labor, rather than mainly your own. Note that leveraged income may or may 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, such as:
Although these require your direct participation, your earning potential is a lot greater than when someone was paying you a direct hourly rate. Fill a room with 1,000 individuals paying $50 each and you can pay for your facility cost, promotional price, and staffing prices and have a nice chunk of change left over. .
In the wise ideas 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's.
During this period the one thing I wanted more than anything else, was a large fat epic record of all of the potential passive income flows there were.
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Unfortunately no one has even till this afternoon made a complete list. So I spent the past week getting loaded on strong Ethiopian espresso and compiling every different income flow from my head, my notes and the net 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 beloved real-life passive income businesses here.
Ie first you need to haul ass and you can try these out do something crazy, eg write 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 each morning available after sale after sale is madeon an ongoing basis and without any additional work.
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As you can observe passive income flows simply come from assets, 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)!
The much loved model for bloggers and content creators everywhere and to get a good reasonits pretty simple to compose a 60-80 page ebook, not difficult to sell say $500 worth a month through online networking, guest posting and your own SEO optimized blog, and well you get to maintain a large whack of this pie after paying affiliates. Hells yeah! Continue reading .
Who doesnt enjoy some down and dirty affiliate commissions! Particularly in the event that you understand it can be even easier to earn money this way than with an ebook. After all, you merely need straight from the source to concentrate on pumping out some content for your own site and getting the traffic 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 blog. Continue reading .
If you told me several years back that this would end up being my #1 source of passive income, I would have slapped you silly and called the men in white coats to take you away! And because back then selling goods online was insanely complicated and time consuming. Pretty much as non-passive as a business gets. .