Working From Home: How to originate a Passive revenue company Model

Better Homes And Gardens Subscription - Working From Home: How to originate a Passive revenue company Model

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Most employment models work on the basis of exchanging your time for money. So you work a set estimate of hours and are paid an hourly, or a daily, or a each year rate, at anyone wage you receive. The problem with this model is that you only have a inevitable estimate of hours in the day for which you can charge. Which is fine if you're able to payment something like £50+ for an hour of your time, but unfortunately not many of us can get away with that (sadly). When you first set up your company working from home, you might not realise that there is an alternative way to work.

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If you resolve to corollary the 'time for money' model in your business, you're going to run up against another problem. While you may work a 40 hour week, it's unlikely you'll be able to undoubtedly earn money for each of those forty hours. At least some of your time will be taken up with 'non-billable' activities, such as marketing, administration, research, normal company housekeeping and so forth. So you may undoubtedly only be able to payment for, say, 25 hours a week rather than 40.

When you factor in all of the other expenses you incur in running your own company - accountancy fees, setting aside a proportion of your income for tax and so forth - you may undoubtedly find that you're working at a loss. Not good - and absolutely not sustainable. Wouldn't it be better to work to a company model that frees you from the tyranny of swapping time for money?

When you work for yourself, you can use this opening to try and create income streams and a company model that doesn't involve charging for your time. And this can undoubtedly move you to a position of financial freedom.

There's no one definite definition of passive income but I like to divulge the opinion as 'income that doesn't want constant work to profess it'.

If you own a rental property, for example, the monthly rent you receive could be described as passive income (providing you're not spending days each month chasing your tenants for rent, doing house maintenance and so forth). Interest on your savings is passive income. If you write an eBook and automate the process of selling it by using a digital services supplier like e-Junkie, then any money from eBooks sold would be classified as passive income.

Passive (or, as some call it, 'residual') income is a big topic. It's a great concept, because it frees you from the tyranny of only having a inevitable estimate of hours in the day to be paid for.

One way you can begin to build a passive income income stream is to leverage the knowledge that you already have and holder it up in a form that you can sell. So if you're a gardener, for example and you know a lot about inevitable types of plants, you could leverage that knowledge in several distinct ways:

Write a book or an eBook on definite plants and growing techniques Create an eBook of organery design Create a series of video tutorials on how to organery or how to grow definite types of plant Create an e-course on distinct gardening techniques Write a monthly subscription-only gardening newsletter

These are just a few ways in which you can begin to seek the opinion of passive income. When you work for yourself, it's an ideal way to make the most of your time, your skills and your knowledge.

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