7 Simple Techniques For Residual Income Ideas In Switzerland
There are many different strategies to generate residual income across a huge variety of businesses. It may be recurring income from the very same clients or the sales of a product to new customers. It may 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 that might still require your involvement to earn your income. For instance, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch each Monday to the local school board has recurring income, but it comes in recurring work that limits on your earning capacity based on your own personal production capacity. .
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 author selling her e-book through associates 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 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 labor, rather than primarily 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 earn more money by having more people involved. This generally involves a one-time event, such as:
Though these need your direct participation, your earning potential is a lot greater than if someone was paying you a direct hourly fee. 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 left over. .
In the wise helpful resources ideas like an online path to the dress-me-in-the-white-jacket ideas like writing posts for adsense, Ive thought about pretty much every passive income flow there is.
During this period the one thing I wanted more than anything else, was a big fat epic record of ALL the possible passive income flows there were.
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Unfortunately no one has even until this afternoon made a complete list. So I spent the past week getting wealthy on strong Ethiopian espresso and compiling every different income flow 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 crazy, eg write 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 own iPhone every 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 resources are bought with money (eg rental property) or even in the case of most of the ideas under, purchased through sweat (eg ebook)!
Who doesnt like some down and dirty affiliate fees! Especially if you understand it can be even simpler to earn money in this way than using an ebook. In the end, you merely need to concentrate on pumping some content to your own site and getting the visitors 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 and called the men in white jackets to come take you away! And thats because back then selling products online was insanely complicated and time consuming. Pretty much as non-passive as a business gets. .