More About Residual Income In Switzerland
There are many different ways to generate residual income across a wide variety of businesses. It may be recurring income by the same clients or the sales of a product to new customers. It could necessitate no personal involvement in any respect, like an e-book offered on a web site, or it may require 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 require your involvement to earn the income. For example, a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday into the local school board has recurring income, but it comes from recurring work which restricts on your earning ability based on your own personal production capacity. .
This frees the work of other folks to create income for you. A Few Examples of leveraged income include:
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An e-book author selling her e-book through affiliates 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 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 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 make more money by having more people involved. This generally involves a one-time event, for example:
Although these require your direct participation, your earning potential is much greater than if someone was paying you an immediate hourly rate. Fill a room with 1,000 individuals paying $50 each and you can cover 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 nearly every passive income stream there is.
During this time the one thing I wanted more than anything else, was a large fat epic list of all of the potential passive income flows there were.
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Unfortunately no one has even until this afternoon made a complete list. So I spent the past week getting wealthy on strong Ethiopian espresso and compiling every different income flow from my mind, my notes and the net interwebs!
PS if you want to go to this web-site 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 do something crazy, 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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As you can see 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 fees! Especially if you realize it can be even simpler to earn money this way than with an ebook. After all, you merely need to concentrate on pumping some content to your own site and getting the traffic in, often via Google or social 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 a few years back 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 jackets to take you away! And because back then selling products online was insanely complex and time consuming. Pretty much as non-passive as a business gets. .