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There are many different ways to generate residual income over a huge variety of businesses. It may be recurring income by the very same clients or the earnings of a product to new clients. It may necessitate no personal involvement in any respect, like an e-book offered on a website, or it may 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 need your involvement to earn your income. By way of instance, a coach or consultant on a monthly retainer, or a caterer who delivers lunch each Monday into the local school board has recurring income, however it comes in recurring work which restricts on your earning ability based on your own personal production capacity. .

This leverages the work of other people to make income for you. A Few 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 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 work done by subcontractors.Franchising your business model into 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 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 sort 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:

Although these need your immediate participation, your earning potential is a lot greater than when someone was just paying you an immediate hourly rate. Fill a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional cost, and staffing prices and still have a nice chunk of change left over. .

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

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

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Unfortunately no one has even till this afternoon made a complete list. I spent the past 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 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 blossom (insanely not passive hahahah), but then you get to sit back and enjoy seeing PayPal sale messages pop up on your iPhone every morning available after sale after sale is madeon an ongoing basis and without any additional effort.

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

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The much loved version for bloggers and content creators everywhere and for a good reasonits pretty easy to write a 60-80 page ebook, not hard to sell say $500 value a month through online networking, guest posting and your own SEO optimized site, and 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 realize it can be even simpler to earn money in this way than using an ebook.  After all, you simply need to concentrate on pumping out some content to your own site and getting the visitors in, often via Google or societal media.  Unsurprisingly, most people can enjoy their very first affiliate sale within 30 days of starting a blog.  Continue reading .

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

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