Getting My Residual Income Ideas In Switzerland To Work
There are many different ways to generate residual income across a wide variety of businesses. It may be recurring income by the very same clients or the sales of a product to new customers. It may require no personal involvement whatsoever, like an e-book offered on a website, or it may need 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 which may still require your involvement to earn your 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, however it comes in recurring work that limits on your earning capacity based on your own personal production capacity. .
This leverages the work of other people to make 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 generated 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 ultimate leveraged income). .
Again, there are many different models in many different businesses. The key is that you're making money from other people's labour, 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 type of income requires your immediate 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 a lot higher than if someone was paying you an immediate hourly fee. Fill in a room with 1,000 individuals 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's.
During this time the one thing I wanted more than anything else, was a big fat epic record of ALL the potential 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 head, my notes and the net interwebs!
PS if you want to cut to the chase you can get access to 3 of my preferred passive income ideas 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 compose a quality 20,000 word blossom (insanely not passive hahahah), but then you get to sit back and enjoy seeing PayPal sale messages pop up on your own iPhone every morning available 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 out of resources, and assets are bought with money (eg rental property) or even in the case of almost all of the ideas below, bought through sweat (eg ebook)!
Who doesnt enjoy some down and important site dirty affiliate fees! Especially in the event that you visit the website realize it can be even easier to make money in this way than using an ebook. In the end, you simply need to concentrate on pumping out 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 very first affiliate sale within 30 days of starting a blog. Continue reading .
If you told me several years ago that this might end up being my #1 source of passive income, I would have slapped you silly and called the men in white jackets to take you away! And because back then selling goods online was insanely complex and time consuming. Pretty much as non-passive as a business receives. .