A TAXONOMY of all the Different ways you can make Money

Here we look at the matrix that clusters the different ways of making money. Note, some of the ways to make money cross more than one cell in the matrix.

		Actively	Passively	Active w/ Passive Component
Time (service)	Home		x
	Work		x
Creation (product)	Home
	Work
Investment	Home
	Work
What	Where	How	How	How

Active Income

Hard-earned money that one earns in exchange for performing a service. Exchanging your time for money.

Types of active income:

1. Fixed linear Income – You are given a set amount of money per unit time or service
   1. Having a full- or part-time job working for someone else (includes contractors)
      1. Wages/Salaries
      2. Tips
      3. Bonuses
      4. Commissions
   2. Gig worker/Freelancer
2. Variable income
   1. Start your own business – Earnings come from the profits
      1. Small business or startup (the differentiator is the speed and scope of scalability)
         1. A business can be online, brick and mortar, or a home business
      2. Selling products and/or services
      3. Open a franchise business like a Subway
      4. Business model permutations and combinations
         1. Customer touch places
            
            1. Online
            2. Brick and mortar
            3. At home
         2. Your location
            1. Home
            2. Office
         3. Your offering
            1. Product
               1. Digital (more scalable) vs tangible
               2. Make in-home or using manufacturing (more scalable)
               3. Your own product or a 3rd party
            2. Service
               1. Digital deliverable
               2. Tangible deliverable
   2. Sell your business
   3. Gambling

Passive Income

Requires little work or no active involvement to generate ongoing revenue.

Types of passive income:

1. Investment income – Leveraging money to make more money.
2. Retirement income – Pensions, annuities, etc.
3. Rental properties
4. Lottery
5. Unearned Income
   1. From the government
      1. Social security
      2. Disability
      3. Unemployment
   2. Inheritance
   3. Gift
   4. Alimony or child support

Active Income with a Passive Component

1. Money earned from the sale of products developed in the past
   1. Like music and books
   2. Websites and mobile apps