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There are many different ways to generate residual income over a wide variety of businesses. It might be recurring income by the very same clients or the sales of a product to new customers. It could necessitate no personal involvement whatsoever, like an e-book sold on a website, or it can need some personal interaction, such as the insurance agent calling the customer to remind them regarding their renewal.

Note that this is different from recurring income that might still require your involvement to earn the income. For example, a mentor 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 that limits on your earning capacity based on your own personal production ability. .

This frees the work of other folks to create income for you. Some 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 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 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 labour, rather than mainly your own. Note that leveraged income might or might not be residual income. When you combine them, that's even better.

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This type 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:

Though these require your immediate participation, your earning official source potential is a lot higher than when someone was just paying you a direct hourly rate. Fill a room with 1,000 individuals paying $50 each and you can pay for your facility price, promotional cost, and staffing fees and 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's.

During this period the one thing I wanted more than anything else, was a large fat epic record of all of the possible passive income streams there were.

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Unfortunately no one has even until this afternoon made an entire list. 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 favorite real life passive income businesses here.

Ie first you need to haul ass and do something crazy, eg compose 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 iPhone each morning available after sale after sale is madeon an ongoing basis and without any additional effort.

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As you can observe passive income streams simply come from resources, and assets are bought with money (eg rental property) or in the case of most of the ideas below, bought through perspiration (eg ebook)!

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The much adored model for bloggers and content creators everywhere and to get a fantastic reasonits pretty easy to compose a 60-80 page ebook, not difficult to sell say $500 worth a month through online networking, guest posting and your own SEO optimized blog, and well you get to keep a large whack of the pie after paying affiliates.  Hells yeah!  Continue reading >.

Who doesnt enjoy some down and dirty affiliate commissions!  Particularly in the event that you understand it can be even simpler to make money in this way than using an ebook.  After all, you merely need to concentrate on pumping out some content for your own site and getting the visitors in, often via Google or social media.  Unsurprisingly, the majority of people can enjoy their very first affiliate sale within 30 days of starting a blog.  Continue reading .

If you told me several years ago that this might 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 because back then selling goods online was insanely complex and time consuming.  Pretty much as non-passive as a business gets. .

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