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There are many different ways to generate residual income across a huge array of businesses. It might be recurring income by the same customers or the earnings of a product to new customers. It may necessitate no personal involvement in any respect, like an e-book offered on a web site, or it can need some personal interaction, like the insurance agent calling the customer to remind them regarding their renewal.

Note that this is different from recurring income which may still require your involvement to earn your income. For example, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to the local school board has recurring income, however it comes in recurring work that limits on your earning ability based on your own personal production ability. .

This leverages the work of different folks to make income for you. A Few Examples of leveraged income include:

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An e-book author 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 models in many different businesses. The key is that you're making money off of other people's labor, rather than primarily 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 direct participation, but you can earn more money by having more people involved. This generally involves a one-time event, for example:

Though these need your immediate participation, your earning potential is a lot higher than if someone was just paying you a direct hourly rate. Fill in a room with 1,000 individuals paying $50 each and you can pay for your facility price, promotional price, and staffing prices and have a nice chunk of change left over. .

From the smart ideas like an online path to the dress-me-in-the-white-jacket notions like writing posts for adsense, Ive thought about nearly every passive income flow there's.

During this time the one thing I wanted more than anything else, was a big fat epic list of all of the potential passive income flows there were.

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Unfortunately no one has even till this afternoon made an entire list. I spent the last week getting wealthy on strong Ethiopian espresso and compiling every different income stream from my head, 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 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 mad, eg compose a quality 20,000 word ebook (insanely not passive hahahah), but then you get to sit back and enjoy seeing PayPal sale messages pop up on your iPhone every morning as sale after sale after sale is madeon an ongoing basis and without any additional work.

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Because you can see passive income streams simply come out of assets, and assets are either bought with money (eg rental property) or even in the case of almost all of the ideas look what i found under, purchased through perspiration (eg ebook)!

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The much loved version 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 value a month through online networking, guest posting and your own SEO optimized site, and view it well you get to keep a large whack of the pie after paying affiliates.  Hells yeah!  Continue reading .

Who doesnt like some down and dirty affiliate fees!  Especially in the event that you understand it can be even simpler to make money this way than using an ebook.  In the end, you merely need to concentrate on pumping out some content to your own site and getting the traffic in, often via Google or social media.  Unsurprisingly, most people can enjoy their 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 look at more info up the men in white jackets to take you away!  And thats because back then selling products online was insanely complex and time consuming.  Pretty much as non-passive as a business receives. .

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