All About Residual Income Ideas In Switzerland
There are many different strategies to generate residual income over a wide variety of businesses. It might be recurring income from the same clients or the earnings of a product to new clients. It may require no personal involvement in any respect, like an e-book sold on a website, or it may require 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 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, however it comes from recurring work which restricts on your earning capacity based on your own personal production capacity. .
This leverages the work of other people to make income for you. A Few Examples of leveraged income include:
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An e-book writer selling her e-book through associates who promote the product.A network marketer that builds 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 supreme leveraged income). .
Again, there are many different models in many different businesses. The key is that you are making money from other people's labor, 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 type of income requires your direct 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 a lot higher than when someone was just paying you an immediate hourly rate. Fill a room with 1,000 individuals paying $50 each and you can pay for your facility price, promotional price, and staffing prices and have a nice chunk of change left over. .
From the wise ideas like an online path 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 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 until this afternoon made an entire list. I spent the last week getting wealthy 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 favorite real-life passive income businesses here.
Ie first you need to haul ass and do something crazy, eg write a quality 20,000 word ebook (insanely not passive hahahah), but then you get 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 see passive income streams simply come from assets, and resources are either bought with money (eg rental property) or even in the event of most of the ideas under, bought through perspiration (eg ebook)!
The much loved model for bloggers and content creators everywhere and to get a fantastic reasonits pretty simple to compose a 60-80 page ebook, not hard to market say $500 worth a month through online networking, guest posting and your own SEO optimized blog, and well you get to keep a large whack of the 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 simpler to make money in this way than using an ebook. After all, you simply 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 blog. Continue reading >. Going Here
If you told me several years ago that this might 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. .