The Basic Principles Of Residual Income Ideas In Switzerland
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 clients. It may necessitate no personal involvement whatsoever, like an e-book sold on a website, or it can 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 which may still require your involvement to earn the income. For example, a coach 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 other 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 who promote the product.A network marketer that 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 job 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 labor, rather than mainly your own. Note that leveraged income might or might not be residual income. When you combine them, that is even better.
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This type of income requires your direct participation, but you can earn more money by having more people involved. This generally involves a one-time event, such as:
Though these need your immediate participation, your earning potential is much greater than if someone was paying you a direct hourly fee. Fill a room with 1,000 individuals paying $50 each and you can cover your continue reading this facility price, promotional cost, and staffing prices and 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 articles for adsense, Ive thought about nearly every passive income stream there's.
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 till this afternoon made an entire list. I spent the last week getting loaded on strong Ethiopian espresso and compiling every different income flow from my mind, 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 ideas 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 crazy, eg write 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 own iPhone each morning as sale after sale after sale is madeon an ongoing basis and browse around this site without any additional work.
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As you can observe passive income streams simply come out of resources, and resources are bought with money (eg rental property) or even in the case of most of the ideas below, bought through perspiration (eg ebook)!
The much loved model for bloggers and content creators everywhere and to get a fantastic reasonits pretty easy to write a 60-80 page ebook, not difficult to sell say $500 worth a month through online networking, guest posting and your own SEO optimized site, and well you get to keep a large whack of the pie after paying affiliates. Hells yeah! Continue reading .
Who doesnt enjoy some down and dirty affiliate commissions! Especially if you understand it can be even easier to make money in this way than with an ebook. In the end, you merely need to concentrate on pumping some content to your own site and getting the visitors in, often via Google or social websites. Unsurprisingly, most people can enjoy their very first affiliate sale within 30 days of starting a site. Continue reading .
If you told me a few years ago that this would end up being my #1 source of passive income, I'd have slapped you silly and called up the men in white coats to come take you away! And because back then selling goods online was insanely complicated and time consuming. Pretty much as non-passive as a business receives. .