Residual Income In Switzerland - Passive Residual Income for Dummies
There are many different ways to generate residual income across a wide variety of businesses. It might be recurring income from the very same clients or the earnings of a product to new clients. It may necessitate no personal involvement whatsoever, such as an e-book offered on a web site, or it may need some personal interaction, like the insurance agent calling the customer to remind them about their renewal.
Note that this is different from recurring income that might still require your involvement to earn your income. By way of instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch each Monday to the local school board has recurring income, however it comes from recurring work which limits on your earning ability based on your own personal production ability. .
This leverages the work of different people to create income for you. Some examples of leveraged income include:
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An e-book writer 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 work done by subcontractors.Franchising your business model into other entrepreneurs (the ultimate leveraged income). .
Again, there are many different versions in many different businesses. The key is that you are making money from 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 sort of income requires your direct 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 immediate participation, your earning potential is much greater than when someone was just paying you a direct hourly fee. Fill in a room with 1,000 people paying $50 each and you can pay for your facility price, promotional price, and staffing fees and still have a nice chunk of change left over. .
From the wise 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 flow there's.
During this period the one thing I wanted more than anything else, was a big 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 a complete list. So I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income stream from my head, 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 thoughts 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 mad, eg compose 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 each morning available after sale after sale is madeon an ongoing basis and without any additional effort.
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As you can observe passive income streams simply come out of assets, and assets are either bought with money (eg rental property) or even in the event of most of the ideas below, purchased through sweat (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 market say $500 worth a month through online networking, guest posting and your own SEO optimized blog, and well you get to maintain a large whack of this 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 easier to make money this way than with an ebook. In the end, you merely need to concentrate on pumping out some content for your own site and getting the traffic in, often via Google or societal websites. Unsurprisingly, the majority of people can enjoy their very first affiliate sale within 30 days of starting a blog. Continue reading >.
If you told me a few years back that this might end up being my #1 source of passive income, I would have slapped you silly his comment is here and called up the men in white jackets to 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. .