The Best Guide To Residual Income Ideas In Switzerland
There are many different ways to generate residual income over a huge variety of businesses. It may be recurring income from the very same customers or the sales of a product to new clients. It could require no personal involvement in any respect, like an e-book sold on a web site, or it can need some personal interaction, like the insurance agent calling the customer to remind them regarding their renewal.
Note that this is different from recurring income which may still require your involvement to earn your income. For instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday into the local school board has recurring income, however it comes in recurring work which limits on your earning capacity based on your own personal production ability. .
This frees the work of different folks to create income for you. Some examples of leveraged income include:
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An e-book writer selling her e-book through associates that promote the product.A network marketer who assembles a downline and receives commissions on the sales generated 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're making money from other people's labor, rather than mainly your own. Note that leveraged income might or might not also 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 earn 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 a lot higher than when someone was just paying you an immediate hourly fee. Fill in a room with 1,000 people paying $50 each and you can cover your facility cost, promotional price, and staffing prices and have a nice chunk of change left over. .
In the smart ideas like an online course to the dress-me-in-the-white-jacket ideas like writing posts for adsense, Ive thought about nearly every passive income flow there is.
During this time the one thing I wanted more than anything else, was a big fat epic list of ALL the potential passive income flows there were.
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Unfortunately no one has even until this day made a complete list. I spent the past week getting loaded 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 favorite 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 every morning as sale after sale after sale is madeon an ongoing basis and without any additional work.
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Because you can observe passive income streams simply come from resources, and resources are either bought with money (eg rental property) or in the case of most of the ideas below, bought through sweat (eg ebook)!
The much adored model for bloggers and content creators everywhere and to get a good reasonits pretty simple to compose a 60-80 page ebook, not difficult to sell 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 the pie after paying affiliates. Hells yeah! Continue reading .
Who doesnt like some down and dirty affiliate commissions! Especially if you understand it can be even easier to earn money in this way than using an ebook. After all, you simply need to concentrate on pumping some content for your own site and getting the visitors in, often via Google or societal websites. Unsurprisingly, the majority of people can enjoy their first affiliate sale within 30 days of starting a blog. Continue reading >.
If you told me a few years back that this would end up being my #1 source of passive income, I'd have slapped you silly and imp source called up the men in white coats 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. .