The 4-Minute Rule for Residual Income In Switzerland
There are many different ways to generate residual income over a wide array of businesses. It might be recurring income from the very same customers or the sales of a product to new customers. It could require no personal involvement whatsoever, such as an e-book sold on a web site, or it may 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 require your involvement to earn the income. For example, a coach or consultant on a monthly retainer, or a secretary who delivers lunch every Monday into the local school board has recurring income, however it comes from recurring work which restricts on your earning ability based on your own personal production capacity. .
This frees the work of other people to create income for you. A Few Examples of leveraged income include:
Residual Income In Switzerland - Passive Residual Income for Dummies
An e-book writer selling her e-book through associates who promote the product.A network marketer who builds 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 ultimate leveraged income). .
Again, there are many different models 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.
More About Residual Income In Switzerland
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:
Although these require your direct participation, your earning potential is much greater than if someone was just paying you an immediate hourly fee. Fill in 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 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's.
During this period 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. 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 net interwebs!
PS if you want to cut to the chase you can get access to 3 of my preferred passive income thoughts right 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 our website 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.
An Unbiased View of Residual Income Ideas In Switzerland
Because you can observe passive income streams simply come out of resources, and resources are 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 enjoy some down and dirty affiliate fees! Particularly in the event that you realize it can be even easier 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 social media. Unsurprisingly, most people can enjoy their first affiliate sale within 30 days of starting a blog. Continue reading >.
If you told me several years back that this might 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 complicated and time consuming. Pretty much as non-passive as a business gets. .