8 Simple Techniques For Residual Income In Switzerland
There are many different ways to generate residual income over a wide array of businesses. It might be recurring income by the very same customers or the earnings of a product to new customers. It could necessitate no personal involvement whatsoever, such as an e-book offered on a web site, or it can require some personal interaction, like the insurance agent calling the client to remind them about their renewal.
Note that this is different from recurring income that might still need your involvement to earn the income. For instance, a coach or consultant on a monthly retainer, or a secretary who delivers lunch every Monday to 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 ability. .
This leverages the work of different people to make income for you. Some examples of leveraged income include:
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An e-book author 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 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 are making money off of 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's even better.
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This sort of income requires your direct participation, but you can make more money by having more people involved. This generally involves a one-time event, such as:
Though these require your immediate participation, your earning potential is much higher than when someone was just paying you a direct hourly rate. Fill in a room with 1,000 people paying $50 each and you can cover your facility price, promotional price, and staffing fees and have a nice chunk of change left over. .
From the wise ideas like an online course to the dress-me-in-the-white-jacket notions like writing posts for adsense, Ive thought about pretty much every passive income flow there's.
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 till this afternoon made a complete list. So I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income flow 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 favorite passive income thoughts right 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 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 directory on your own 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 streams simply come out of resources, and resources are either bought with money (eg rental property) or in the case of almost all of the ideas under, purchased through sweat (eg ebook)!
Who doesnt like some down and dirty affiliate commissions! Especially if you understand it can be even simpler to earn money 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 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 up the men in white jackets to come take you away! And thats because back then selling goods online was insanely complicated and time consuming. Pretty much as non-passive as a business gets. .