Our Residual Income In Switzerland - Passive Residual Income Statements
There are many different strategies to generate residual income over a huge variety of businesses. It might be recurring income by the very same clients or the earnings of a product to new clients. It may necessitate no personal involvement in any respect, such as an e-book sold on a web site, or it can require some personal interaction, such as the insurance agent calling the client to remind them about their renewal.
Note that this is different from recurring income that might still need your involvement to earn your income. For example, a mentor 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 in recurring work which restricts on your earning capacity based on your own personal production ability. .
This leverages the work of other 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 associates that 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 into 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 may or may not be residual income. When you combine them, that is even better.
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This type of income requires your direct 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 direct participation, your earning potential is much higher than if someone was just paying you a direct hourly fee. 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 still have a nice chunk of change left over. .
In the wise notions like an online path to the dress-me-in-the-white-jacket ideas like writing articles for adsense, Ive thought about nearly 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 potential passive 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 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 preferred 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 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 own iPhone each morning as sale 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 out of resources, and assets are bought with money (eg rental property) or even in the event of most of the ideas under, bought through perspiration (eg ebook)!
Who doesnt enjoy some down and dirty affiliate fees! Particularly if you understand it can be even simpler to make money this way than with an ebook. In the end, you merely need to concentrate on pumping some content to your read 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 site. 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 up the men in white coats to come 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. .