Residual Income In Switzerland - Passive Residual Income for Beginners
There are many different ways to generate residual income over a wide array of businesses. It might be recurring income by the same clients or the sales of a product to new customers. It could necessitate no personal involvement whatsoever, such as an e-book offered on a website, or it may 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 need your involvement to earn your income. For example, a coach 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 from recurring work that restricts on your earning ability based on your own personal production ability. .
This leverages the work of different people to create income for you. A Few Examples of leveraged income include:
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An e-book writer selling her e-book through affiliates who promote the product.A network marketer who builds 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 supreme leveraged income). .
Again, there are many different models in many different businesses. The key is that you are making money from other people's labor, rather than primarily your own. Note that leveraged income might or might not also be residual income. When you combine them, that's 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:
Although these need your direct participation, your earning potential is a lot greater than when someone was just paying you a direct hourly rate. Fill in a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional price, and staffing prices and have a nice chunk of change left over. .
From the smart ideas like an online path to the dress-me-in-the-white-jacket notions like writing posts for adsense, Ive thought about pretty much every passive income flow 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. So I spent the past week getting wealthy on strong Ethiopian espresso and compiling every different income flow from my mind, 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 thoughts right 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 write a quality 20,000 word blossom (insanely not passive hahahah), but then you have to sit back and enjoy seeing PayPal sale messages pop up on your own linked here iPhone each morning as sale after sale after sale is madeon an ongoing basis and without any additional effort.
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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) or in the case of almost all of the ideas below, purchased through sweat (eg ebook)!
Who doesnt like some down and dirty affiliate commissions! Particularly in the event that you realize it can be even simpler to earn money this way than using an ebook. In the end, you merely need to concentrate on pumping out some content for your own site and getting the visitors in, often via Google or social media. Unsurprisingly, most 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 would end up being my #1 source of passive income, I would have slapped you silly and called the men in white coats to come take you away! And because back then selling goods online was insanely complex and time consuming. Pretty much as non-passive as a business gets. .