Residual Income In Switzerland - Passive Residual Income for Beginners
There are many different strategies to generate residual income across a wide variety of businesses. It might be recurring income from the very same clients or the sales of a product to new customers. It may necessitate no personal involvement whatsoever, like an e-book offered on a web site, or it can need 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 your income. By way of 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, but it comes from recurring work that restricts on your earning capacity based on your own personal production capacity. .
This frees the work of different people to make income for you. Some 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 who 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 into other entrepreneurs (the supreme leveraged income). .
Again, there are many different models in many different businesses. The key is that you're making money from other people's labor, rather than mainly your own. Note that leveraged income may or may not also be residual income. When you combine them, that's 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, for example:
Although these need your immediate participation, your earning potential is much higher than if someone was just paying you an immediate hourly rate. Fill in a room with 1,000 people paying $50 each and you can cover your facility cost, promotional price, and staffing prices and still have a nice chunk of change left over. .
From the wise notions like an online course to see it here 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 record of all of the possible passive income flows there were.
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Unfortunately no one has even until this day made a complete list. I spent the last week getting loaded 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 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 iPhone each morning as sale after sale after sale is madeon an ongoing basis and without any additional effort.
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As you can see passive income streams simply come from assets, and resources are bought with money (eg rental property) or in the case of almost all of the ideas below, purchased through perspiration (eg ebook)!
Who doesnt like some down and dirty affiliate commissions! Especially if you understand it can be even simpler to make money this way than with an ebook. After all, you simply 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 very first affiliate sale within 30 days of starting a site. Continue reading >.
If you told me a few years back that this this might end up being my #1 source of passive income, I would have slapped you silly and called up the men in white jackets to 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. .