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There are many different ways to generate residual income across a huge variety of businesses. It might be recurring income from the same customers or the earnings of a product to new clients. It could necessitate no personal involvement in any respect, such as an e-book sold on a website, or it may require some personal interaction, like the insurance agent calling the client 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 instance, a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday into the local school board has recurring income, however it comes from recurring work that restricts on your earning capacity based on your own personal production capacity. .

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 affiliates who promote the product.A network marketer that assembles a downline and receives commissions on the sales made by people in his downline.A general contractor who makes a profit margin on the job 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 labour, rather than primarily your own. Note that leveraged income may or may not be residual income. When you combine them, that is even better.

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This type of income requires your direct participation, but you can make more money by having more people involved. This generally involves a one-time event, such as:

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

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

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

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Unfortunately no one has even till this day made an entire list. So I spent the last 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 preferred passive income thoughts 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), but then you get to sit back and enjoy seeing PayPal sale messages pop up on your own iPhone each morning available pop over here after sale after sale is madeon an ongoing basis and without any additional effort.

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As you can see passive income flows simply come out of resources, and resources are either bought with money (eg rental property) or in the event of most of the ideas under, purchased through perspiration (eg ebook)!

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The much loved model for bloggers and content creators everywhere and for a fantastic reasonits pretty easy to compose a 60-80 page ebook, not hard to market 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 this pie after paying affiliates.  Hells yeah!  Continue reading .

Who doesnt enjoy some down and dirty affiliate fees!  Especially if you understand it can be even simpler to earn money this way than with an ebook.  In the end, you merely need to concentrate on pumping some content to your own site and getting the traffic in, often via Google or social media.  Unsurprisingly, the majority of people can enjoy their first affiliate sale within 30 days of starting a site.  Continue reading >.

If you told me several years back that this would end up being my #1 source of passive income, I'd have slapped you silly and called the men in white jackets to come take you away!  And because back then selling products online was insanely complex and time consuming.  Pretty much as non-passive as a business gets. .

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