The Definitive Guide to Residual Income Ideas In Switzerland
There are many different ways to generate residual income across a huge array of businesses. It may be recurring income from the same customers or the sales of a product to new clients. It may require no personal involvement whatsoever, such as an e-book offered on a web site, or it may require some personal interaction, like 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 the income. For instance, a coach 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 ability. .
This leverages the work of other 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 who 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 into other entrepreneurs (the ultimate leveraged income). .
Again, there are many different versions in many different businesses. The key is that you're making money off of 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 sort 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:
Although these need your direct participation, your earning potential is a lot higher than when someone was 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 cost, and staffing prices and still have a nice article source chunk of change left over. .
From the smart notions like an online path to the dress-me-in-the-white-jacket notions like writing articles 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 list of all of the potential passive income streams there were.
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Unfortunately no one has even until this afternoon made an entire list. So I spent the past week getting wealthy 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 anonymous get access to 3 of my favorite 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 compose 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 iPhone every morning available after sale after sale is madeon an ongoing basis and without any additional effort.
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As you can observe passive income streams simply come from resources, and resources are either 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 like some down and dirty affiliate fees! Especially if you realize it can be even simpler to make money in 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 traffic in, often via Google or societal media. Unsurprisingly, the majority of people can enjoy their 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'd 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 receives. .