Passive Income

Do you want to continue working 50, 70, 100 hours a week the rest of your life?

Good! Neither do I.

Do you want to be able to take time off whenever you want to, without worrying about what's going to happen to your business?

So do I!There's a saying in the corporate world: "Don't make yourself irreplaceable. If you can't be replaced, you can't be promoted." As an entrepreneur, this is still true in its own way. Let's think of "being promoted" as earning more and working less. You can raise your prices, but until you can remove yourself from being directly involved in doing the work that generates the income, there's always going to be a limit to how much you can earn, and it can only increase very slowly.Passive income, on the other hand, is income that does not require your direct involvement. Some kinds of passive income you may be familiar with include owning rental property, royalties on an invention or creative work, and network marketing. If you want to earn more, work less, and have a decent retirement, you're going to have to start creating income streams that do not require your direct involvement. Whether you're just starting your business, or you've been running it a while, the sooner you start thinking about how you are going to shift your business model to create more passive income, the sooner you can achieve personal and financial freedom.Let's look at two basic types of passive income, and a third type of income that, while technically not passive, is a key strategy for earning more and working less.Residual IncomeResidual income is revenue that occurs over time from work done one time. Some examples include:

An insurance agent who gets commission every year when a customer renews his policy

A network marketing or direct sales rep's income from her direct customers when they reorder product every month

An aerobics instructor who produces a video and sells it at the gyms where she teaches

A marketing consultant who creates a workbook and sells it in e-book format on the Internet

A photographer who makes his photos available through a stock photography clearinghouse and gets paid a royalty whenever someone buys one of his images

A restaurant or retail owner who has grown to the point of hiring a trustworthy manager

As you can see, there are many different ways to generate residual income across a wide variety of businesses. It may be recurring income from the same customers, or the sales of a product to new customers. It may 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 customer to remind them about their renewal and ask them if they want to change any of their coverage. Often, it's something that you can delegate to an assistant. Note that this is different from merely recurring income. Recurring income may still require your involvement to earn the income, e.g., a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to the local school board. While this "active recurring income" offers welcome stability, it also tends to tie you down, and you still have limits on your earning capacity based on your own personal production capacity.Leveraged IncomeLeveraged income leverages the work of other people to create income for you. Some examples of leveraged income include:

An e-book author selling her e-book through affiliates 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 sub-contractors

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 are making money off of other people's labor, rather than primarily your own. Note that leveraged income may or may not also be residual income. When you combine them, that's even better. Active Leveraged IncomeThis is a term I use to describe income that requires your direct participation, but that you can make more money by having more people involved. This generally involves a one-time event, such as:

A seminar or class

A conference or convention

Concerts and dance recitals

Raves and other partiesAlthough these require your direct participation, your earning potential is much higher than if someone were just paying you a direct hourly rate. Fill a room with 1,000 people paying $50 each and you can cover your facility cost, promotional cost, and staffing fees and still have a nice chunk of change left over. Applying ItNow is the time to think about how to apply this in your business. Can you create a product that people will buy over and over again? Can you engage others to sell your product? How could you make money off the work of others?

The sooner you answer these questions, the sooner you'll have financial and personal freedom.Thu nhp th ng Thu nhp ca ngi t doC ai mong mun tip tc lm vic 50, 70, 100 gi mt tun trong sut qung i cn li ca mnh?

C ai mong mun c th ngh ngi bt c khi no mnh mun m khng lo lng iu g s xy ra vi cng vic ca mnh?Trong mi trng cng tc, c mt iu c ni ti rng: ng bn thn tr thnh khng th thay th c. Nu bn khng th thay th, bn s khng th thng tin. gc mt doanh nhn, iu ny hon ton ng. Hy ngh v vic thng tin trong khi c thu nhp nhiu hn v lm vic t hn. Bn c th nng cao ci gi ca bn thn, nhng ch chng no bn c th t tch mnh ra, khng trc tip tham gia thc hin nhng cng vic mang li thu nhp, bng khng, lun c mt gii hn v thu nhp v thu nhp s ch tng trng rt chm.Thu nhp th ng, theo mt hng khc, l thu nhp khng i hi s tham gia trc tip vo cng vic. Mt s loi thu nhp th ng m ta c th thng gp nh thu nhp t vic cho thu ti sn, thu nhp t bn quyn c c khi ta u t hoc to ln cc sn phm sng to, hoc thu nhp t h thng tip th mng li (network marketing). Nu mong mun c thm thu nhp, lm vic t hn v c s ngh hu l tng, ta cn bt u ngay vo vic to ra mt dng thu nhp m khng i hi s tham gia trc tip vo cng vic sinh ra thu nhp . Bt k l bn s thnh lp mt doanh nghip mi hay vi doanh nghip m bn hot ng n mt thi gian cho n nay, bn cng sm ngh ti vic nng doanh nghip thnh m hnh to ra thu nhp th ng, bn cng nhanh chng t c s t do ti chnh v t do c nhn cho bn thn mnh.Chng ta hy xem xt v hai loi hnh c bn ca thu nhp th ng v mt loi hnh th ba khc, theo k thut th khng phi l th ng c xem l nhng chin lc ch cht trong vic to thm thu nhp nhng lm vic t hn.Thu nhp thng d (Residual Income)Thu nhp thng d l phn thu nhp n theo thi gian t nhng cng vic c hon thnh mt ln trong qu kh. Mt s v d nh: Mt i l bo him nhn c hoa hng hng nm khi khch hang ca h lp li chng trnh bo him ca anh ta,

Mt i din tip th mng li hoc bn hang trc tip c c thu nhp khi khch hang ca h ti t hng sn phm hng thng,

Mt hun luyn vin Aerobics sn xut cc a video chng trnh phng tp ca mnh v bn a chng trnh ra ngoi,

Mt chuyn vin th trng vit v bn cc sch in t trn mng Internet,

Mt nhip nh gia bn cc bc nh ca anh ta trn cc i l k gi nh (thng l nh k thut s bn k gi trn cc website lu tr nh LND) v nhn c tin bn quyn mi khi c khch hang mua mt bn ca bc nh, Mt nh hng hoc i l bn l xy dng c i ng bn hang v qun l tin cy (v khng cn phi trc tip tham gia iu hnh n v kinh doanh na - LND)

Nh ta thy, c rt nhiu cch sn sinh ra thu nhp thng d vi s a dng trong kinh doanh. N c th l thu nhp quay vng n t cng mt khch hng hay bn mt sn phm ti nhiu khch hang khc nhau. N c th thc s khng i hi s tham d ca con ngi vo v d vic bn cc bn sch in t trn mng Internet hoc i hi mt cht t tng tc no nh vic nhn vin bo him gi in cho khch hng nhc h ti tc v hi xem h c mong mun m rng phm vi hay khng. Thng thng nu cn s tham gia no th cng l nhng vic c th giao li cho tr l.Cng lu rng, loi hnh thu nhp ny khc vi hnh thc thu nhp quay vng thun ty. Thu nhp quay vng vn i hi vic tham gia cng vic sinh ra thu nhp. l nhng thu nhp ca cc hun luyn vin hoc t vn vin ring cho ai theo nh k hng thng, hoc vic cung cp ba tra mi th Hai cho mt trng hc a phng. Nhng loi hnh thu nhp quay vng nng ng ny mc d tng i n nh nhng n cng c xu hng gii hn s t do bn cnh vic gii hn kh nng thu nhp ph thuc v kh nng sn xut.Thu nhp n by (Leveraged Income)Loi hnh thu nhp c tnh n by l vic thu nhp da vo cng vic ca ngi khc. Chng ta c nhng v d sau: Ngi bn sch in t bn sch ca mnh qua nhng t chc c th qung b trn din rng,

Mt thnh vin lm tip th mng li xy dng h thng v c thu nhp t h thng ca anh ta,

Mt nh thy xy dng c thu nhp t cng vic ca cc thu ph,

H thng nhng quyn trong kinh doanh, c thu nhp t kinh doanh ca ngi khc (mt hnh thc thu nhp n by tiu biu)

Mt ln na, c nhiu m hnh khc nhau trong cc kinh doanh khc nhau. Mu cht y l chng ta c c thu nhp t cng vic v sc lc ca ngi khc ch khng phi ch yu t bn thn mnh. Lu rng, thu nhp n by c th l hoc khng l thu nhp thng d. Nu kt hp c chng vi nhau, thc s tuyt vi.Thu nhp n by nng ng (Active Leveraged Income)Thut ng ny ch ti mt loi hnh thu nhp i hi ta phi trc tip tham gia, nhng da trn vic c nhiu ngi cng tham d. N thng n t nhng s kin mt ln nh: Mt hi ngh chuyn hoc lp hc,

Hi tho, hi ngh ln,

Ha nhc v trnh din khiu v,

V trng v cc ba ticMc d nhng hnh thc ny i hi s tham gia trc tip nhng thu nhp s cao hn so vi vic bn c tr tin theo gi. Khon thu t nhng s kin ln sau khi thanh ton cc chi ph cho tin ch, qun co, nhn vin vn li c mt khon ng k.ng dngChng ta s ng dng nhng iu trn y th no trong doanh nghip? Chng ta c th to ra c mt loi sn phm ngi s dng s mua i mua li? Chng ta c th khch l nhng ngi khc i bn cc sn phm cha chng ta? V chng ta c th lm th no c thu nhp t cng vic ca ngi khc?Tr li c cu hi trn, chng ta s sm t c t do v ti chnh v c nhn.