Residual Income In Switzerland - Passive Residual Income - Truths
There are many different ways to generate residual income over a huge variety of businesses. It might be recurring income by the very same clients or the sales of a product to new customers. It could require no personal involvement in any respect, such as an e-book sold on a web site, or it can 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 your income. For example, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch each Monday into the local school board has recurring income, however it comes from recurring work which restricts on your earning ability based on your own personal production capacity. .
This leverages the work of different people to create income for you. A Few Examples of leveraged income include:
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An e-book writer selling her e-book through associates 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 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 are 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'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:
Although these require your immediate participation, your earning potential is much higher than if someone was just paying you a direct hourly fee. Fill in a room with 1,000 people 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. .
From the wise notions like an online path to the dress-me-in-the-white-jacket ideas like writing posts for adsense, Ive thought about nearly every passive income flow there's.
During this period the one thing I wanted more than anything else, was a big fat epic record of ALL the potential passive income streams there were.
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Unfortunately no one has even until this day made a complete list. I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income stream 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 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 blossom (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 streams simply come from resources, and assets are either bought with money (eg rental property) or even in the event of most of the ideas below, purchased through sweat (eg ebook)!
Who doesnt like some down company website and dirty affiliate fees! Especially if you understand it can be even easier to make money this way than with an ebook. After all, you merely need to concentrate on pumping some content for your own site and getting the traffic in, often via Google or societal websites. Unsurprisingly, the majority of people can enjoy their first affiliate sale within 30 days of starting a site. Continue reading .
If you told me several years back that this might end up being my #1 source of passive income, I would have slapped you silly and called 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 receives. .