The Of Residual Income In Switzerland
There are many different strategies to generate residual income across a huge array of businesses. It may be recurring income by the very same clients or the sales of a product to new customers. It could require no personal involvement whatsoever, like an e-book offered on a web site, or it can require some personal interaction, such as the insurance agent calling the customer to remind them regarding their renewal.
Note that this is different from recurring income that might still need your involvement to earn the income. For instance, a coach or consultant on a monthly retainer, or a secretary who delivers lunch each Monday to the local school board has recurring income, but it comes in recurring work that restricts on your earning ability based on your own personal production capacity. .
This frees the work of other folks 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 who promote the product.A network marketer that 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 work done by subcontractors.Franchising your business model to other entrepreneurs (the supreme leveraged income). .
Again, there are many different models in many different businesses. The key is that you are making money from other people's labor, 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 direct participation, but you can earn more money by having more people involved. This generally involves a one-time event, such as:
Though these require your immediate participation, your earning potential is much greater than if someone was paying you an immediate hourly rate. Fill in a room with 1,000 people paying $50 each and you can cover your facility price, promotional price, 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 stream there is.
During this time the one thing I wanted more than anything else, was a large fat epic list of ALL the possible passive income streams there were.
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Unfortunately no one has even till this afternoon made an entire 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 favorite 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 mad, eg write 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 every 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 flows simply come from resources, and assets are either bought with money (eg rental property) or in the event of almost all of the ideas under, purchased news through perspiration (eg ebook)!
Who doesnt like some down and dirty affiliate commissions! Especially if you understand it can be even easier to make money this way than using an ebook. After all, you merely need to concentrate on pumping out some content for your own site and getting the traffic in, often via Google or societal media. 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 would end up being my #1 source of passive income, I would have slapped you silly and called the men in white jackets 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. .