Residual Income In Switzerland - Questions
There are many different strategies to generate residual income over a wide variety of businesses. It may be recurring income from the same clients or the earnings of a product to new customers. It may require no personal involvement in any respect, such as an e-book sold on a website, or it can need some personal interaction, such as the insurance agent calling the client to remind them about their renewal.
Note that this is different from recurring income which may still require your involvement to earn your income. By way of instance, 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 limits on your earning ability based on your own personal production ability. .
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 author selling her e-book through associates who 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 work done by subcontractors.Franchising your business model to other entrepreneurs (the supreme leveraged income). .
Again, there are many different versions in many different businesses. The key is that you're making money off of other people's labour, rather than primarily 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 earn more money by having more people involved. This generally involves a one-time event, for example:
Although these details these need your immediate participation, your earning potential is much greater than when someone was just paying you a direct hourly fee. Fill a room with 1,000 people paying $50 each and you can pay for your facility price, promotional cost, and staffing fees and still 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 posts for adsense, Ive thought about pretty much every passive income flow there is.
During this official statement period the one thing I wanted more than anything else, was a large fat epic list of all of the potential passive income streams there were.
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Unfortunately no one has even till this afternoon made an entire list. So I spent the past week getting wealthy on strong Ethiopian espresso and compiling every different income stream 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 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 i was reading this morning as sale after sale after sale is madeon an ongoing basis and without any additional effort.
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Because you can see passive income flows simply come out of resources, and assets are either bought with money (eg rental property) or even in the case of almost all of the ideas below, purchased through sweat (eg ebook)!
Who doesnt enjoy some down and dirty affiliate fees! Especially in the event that you realize it can be even simpler to earn money this way than using an ebook. In the end, you simply need to concentrate on pumping out some content for your own site and getting the traffic in, often via Google or societal websites. Unsurprisingly, most people can enjoy their very first affiliate sale within 30 days of starting a site. 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 coats to come take you away! And thats because back then selling goods online was insanely complex and time consuming. Pretty much as non-passive as a business gets. .