Some Known Details About Residual Income In Switzerland - Passive Residual Income
There are many different strategies to generate residual income across a wide array of businesses. It may be recurring income by the very same clients or the earnings of a product to new clients. It may require no personal involvement whatsoever, like an e-book offered on a web site, or it may 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 that might still require your involvement to earn the income. By way of example, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday into the local school board has recurring income, but it comes in recurring work which limits on your earning capacity based on your own personal production ability. .
This leverages the work of other people to create income for you. A Few Examples of leveraged income include:
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An e-book author selling her e-book through associates that promote the product.A network marketer who assembles a downline and receives commissions on the sales made by people in his downline.A general contractor who makes a profit margin on the job done by subcontractors.Franchising your business model into other entrepreneurs (the supreme leveraged income). .
Again, there are many different versions 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 is even better.
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This sort of income requires your immediate participation, but you can make more money by having more people involved. This generally involves a one-time event, for example:
Though these need your direct participation, your earning potential is much greater than if someone was just paying you a direct hourly rate. Fill a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional cost, and staffing fees and still have a nice chunk of change left over. .
From the smart notions like an online course to the dress-me-in-the-white-jacket notions like writing articles for adsense, Ive thought about nearly 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 potential passive income flows there were.
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Unfortunately no one has even till this day made a complete list. So I spent the last week getting loaded on strong Ethiopian espresso and compiling every different income stream from my mind, 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 here or you can check out 30 of my favorite real-life passive income businesses additional resources 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 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 flows simply come from resources, and assets are bought with money (eg rental property) or even in the case of almost all of the ideas under, bought through perspiration (eg ebook)!
Who doesnt enjoy some down and dirty affiliate fees! Particularly 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 traffic in, often via This Site 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 a few years back check these guys out 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 products online was insanely complicated and time consuming. Pretty much as non-passive as a business gets. .