The Best Strategy To Use For Residual Income In Switzerland
There are many different strategies to generate residual income across a wide array of businesses. It may be recurring income from the same clients or the earnings of a product to new clients. It may require no personal involvement whatsoever, like an e-book sold on a website, or it can require some personal interaction, such as the insurance agent calling the client 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 instance, a coach or consultant on a monthly retainer, or a secretary who delivers lunch every Monday into the local school board has recurring income, but it comes in recurring work which restricts on your earning capacity based on your own personal production capacity. .
This leverages the work of different folks to make income for you. Some examples of leveraged income include:
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An e-book author selling her e-book through associates who 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 to other entrepreneurs (the supreme leveraged income). .
Again, there are many different versions in many different businesses. The key is that you're 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 type of income requires your immediate participation, but you can make more money by having more people involved. This generally involves a one-time event, such as:
Though these require your direct participation, your earning potential is much greater than if someone was just paying you an immediate hourly fee. Fill a room with 1,000 individuals paying $50 each and you can pay for your facility cost, promotional price, and staffing prices and still have a nice chunk of change left over. .
From the smart ideas like an online course to the dress-me-in-the-white-jacket notions 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 list of ALL the possible passive income flows there were.
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Unfortunately no one has even until this day made an entire list. I spent the past week getting loaded on strong Ethiopian espresso and compiling every different income flow from my mind, 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 right here or you can check out 30 you can try these out 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 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 streams simply come out of resources, and resources are either bought with money (eg rental property) or even 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 if you understand it can be even simpler to earn money this way than with 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 websites. Unsurprisingly, the majority of people can enjoy their very first affiliate sale within 30 days of check my site starting a site. Continue reading .
If you told me a few years ago that this would end up being my #1 source of passive income, I'd have slapped you silly and called up the men in white jackets to come take you away! And because back then selling goods online was insanely navigate here complicated and time consuming. Pretty much as non-passive as a business gets. .