The Residual Income In Switzerland - Passive Residual Income Diaries
There are many different strategies to generate residual income over a wide array of businesses. It may be recurring income from the very same clients or the sales of a product to new clients. It could require no personal involvement whatsoever, such as an e-book sold on a website, or it can require 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 need your involvement to earn your income. For example, a mentor 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 from recurring work that 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 writer selling her e-book through associates that 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 work done by subcontractors.Franchising your business model to other entrepreneurs (the ultimate leveraged income). .
Again, there are many different versions 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's even better.
Our Residual Income In Switzerland - Passive Residual Income Diaries
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, for example:
Though these require your immediate participation, your earning potential is a lot higher than when someone was just paying you an immediate hourly fee. Fill a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional cost, and staffing fees and have a nice chunk of change left over. .
In the wise ideas like an online path to the dress-me-in-the-white-jacket notions like writing posts for adsense, Ive thought about nearly every passive income stream there's.
During this period the one thing I wanted more than anything else, was a big fat epic list of all of the potential passive navigate here income streams there were.
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Unfortunately no one has even until this day made an entire list. So I spent the past week getting loaded 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 favorite passive income thoughts 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 ebook (insanely not passive hahahah), but then you have to sit back and enjoy seeing PayPal sale messages pop up on your iPhone every morning as sale after sale after sale is madeon an ongoing basis and without any additional work.
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Because you can see passive income flows simply come from assets, and assets are bought with money (eg rental property) or in the event of most of the ideas below, purchased 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 using an ebook. In the end, you simply need to concentrate on pumping some content for your own site and getting the visitors in, often via Google or societal media. Unsurprisingly, most people can enjoy their very first affiliate sale within 30 days of starting a site. Continue reading .
If you told me several years back that this might end up being my #1 source of passive income, I would have slapped you silly and called up the men in white jackets to take you away! And thats because back then selling products online was insanely complex and time consuming. Pretty much as non-passive as a business receives. .