The Definitive Guide to Residual Income In Switzerland - Passive Residual Income
There are many different strategies to generate residual income over a huge array of businesses. It may be recurring income by the same customers or the earnings of a product to new clients. It could require no personal involvement whatsoever, such as an e-book sold on a web site, or it may need 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 need your involvement to earn the income. For instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday to the local school board has recurring income, but it comes in recurring work that limits on your earning ability based on your own personal production ability. .
This leverages the work of other folks 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 that 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 job 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're making money off of other people's labour, rather than mainly your own. Note that leveraged income may or may not also be residual income. When you combine them, that's even better.
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This type 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:
Although these need your direct participation, your earning potential is a lot higher than if someone was just paying you an immediate hourly rate. Fill a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional price, and staffing fees and still have a nice chunk of change go to this website left over. .
From the smart notions like an online path to the dress-me-in-the-white-jacket ideas like writing articles 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 big fat epic record of all of the possible passive income streams there were.
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Unfortunately no one has even until this day made a complete list. I spent the past week getting wealthy on strong Ethiopian espresso and compiling every different income stream 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 beloved real-life passive income businesses here.
Ie first you need to haul ass and do something crazy, eg compose a quality 20,000 word ebook (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 available 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 assets, and assets are either bought with money (eg rental property) her explanation or even in the event of almost all of the ideas under, purchased through perspiration (eg ebook)!
The much adored model for bloggers and content creators everywhere and for a good reasonits pretty easy to write a 60-80 page ebook, not difficult to sell say $500 value a month through online networking, guest posting and your own SEO optimized blog, and well you get to keep a large whack of the pie after paying affiliates. Hells yeah! Continue reading >.
Who doesnt like some down and dirty affiliate fees! Particularly if you realize it can be even simpler to earn money in this way than using an ebook. After all, you simply need to concentrate on pumping out some content to your own site and getting the visitors in, often via Google or societal websites. Unsurprisingly, most people can enjoy their first affiliate sale within 30 days of starting a site. Continue reading .
If you told me several years ago 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 take you away! And because back then selling goods online was insanely complicated and time consuming. check this Pretty much as non-passive as a business gets. .