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There are many different ways to generate residual income over a huge variety of businesses. It may be recurring income from the very same customers or the earnings of a product to new clients. It may require no personal involvement in any respect, such as an e-book offered on a website, or it can 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. By way of instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday to the local school board has recurring income, but it comes in recurring work that restricts on your earning ability based on your own personal production ability. .

This leverages the work of different people to make income for you. Some examples of leveraged income include:

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An e-book writer selling her e-book through associates who promote the product.A network marketer who assembles a downline and receives commissions on the sales generated 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 are making money off of other people's labor, rather than mainly your own. Note that leveraged income might or might not also be residual income. When you combine them, that is 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:

Although these require your direct participation, your earning potential is a lot greater than when someone was paying you an immediate hourly rate. Fill a room with 1,000 people paying $50 each try this and you can cover your facility price, promotional price, and staffing prices and have a nice chunk of change left over. .

In the smart notions like an online course why not check here to the dress-me-in-the-white-jacket ideas like writing articles for adsense, Ive thought about pretty much every passive income flow there is.

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

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Unfortunately no one has even till this day made an entire list. I spent the past week getting wealthy on strong Ethiopian espresso and compiling every different income stream 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 favorite 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 compose a quality 20,000 word ebook (insanely not passive hahahah), why not check here but then you have to sit back and enjoy seeing PayPal sale messages pop up on your own iPhone every morning available after sale after sale is madeon an ongoing basis and without any additional work.

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

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

Who doesnt enjoy some down and dirty affiliate commissions!  Especially in the event that you understand it can be even simpler to earn money in this way than with an ebook.  After all, you simply need to concentrate on pumping some content to your own site and getting the visitors in, often via Google or societal websites.  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 would end up being my #1 source of passive income, I would have slapped you silly and called the men in white jackets to take you away!  And because back then selling goods online was insanely complex and time consuming.  Pretty much as non-passive as a business receives. .

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