Get This Report on Residual Income In Switzerland - Passive Residual Income
There are many different strategies to generate residual income over a wide variety of businesses. It may be recurring income from the very same clients or the earnings of a product to new customers. It may necessitate no personal involvement in any respect, such as an e-book sold on a web site, or it can require some personal interaction, such as the insurance agent calling the customer to remind them about 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 caterer who delivers lunch every Monday to the local school board has recurring income, however it comes in recurring work which limits on your earning ability based on your own personal production capacity. .
This frees the work of other folks to create income for you. Some examples of leveraged income include:
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An e-book author selling her e-book through affiliates that promote the product.A network marketer that builds 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 models 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 may or may not also be this post 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 require 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 people paying $50 each and you can pay for your facility cost, promotional price, and staffing fees and have a nice chunk of change left over. .
In the smart notions like an online course to the dress-me-in-the-white-jacket notions like writing articles for adsense, other Ive thought about nearly every passive income flow there is.
During this period the one thing I wanted more than anything else, was a big fat epic list of all of the possible passive income flows there were.
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Unfortunately no one has even until this afternoon made an entire list. I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income flow 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 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 every morning available 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 assets, and assets are bought with money (eg rental property) or in the event of most of the ideas below, bought through sweat (eg ebook)!
Who doesnt like some down and dirty affiliate fees! Particularly in the event that you understand it can be even easier to make money in this way than with an ebook. After all, you merely need to concentrate on pumping some content for your own site and getting the visitors in, often via Google or social 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'd have slapped you silly and called up the men in white jackets 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. .