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There are many different strategies to generate residual income over a huge variety of businesses. It might be recurring income from the same customers or the sales of a product to new clients. It may necessitate no personal involvement whatsoever, like an e-book sold 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 the income. For example, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday to the local school board has recurring income, however it comes from recurring work which restricts on your earning ability based on your own personal production capacity. .

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

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An e-book writer selling her e-book through affiliates that promote the product.A network marketer that 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 job done by subcontractors.Franchising your business model to other entrepreneurs (the ultimate leveraged income). .

Again, there are many different models in many different businesses. The key is that you are making money from other people's labor, rather than primarily your own. Note that leveraged income may or may not also be residual income. When you combine them, that is even better.

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This sort 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 much higher than when someone was just paying you a direct hourly fee. Fill in a room with 1,000 individuals paying $50 each and you can cover your facility price, promotional cost, and staffing prices and 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 stream there's.

During this period the one thing I wanted more than anything else, was a big fat epic list of ALL the potential 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 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 favorite real life passive income businesses here.

Ie first you need to haul ass and do something mad, eg write 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 each morning as sale 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 out of assets, and resources are either bought with money (eg rental property) or even in the event 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 good reasonits pretty easy to compose a 60-80 page ebook, not hard 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 this pie after paying affiliates.  Hells yeah!  Continue reading >.

Who doesnt enjoy some down and dirty affiliate commissions!  Especially in the event that you realize it can be even simpler to earn money this way than with an ebook.  In the end, you merely need to concentrate on pumping out some content for your own site and getting the traffic 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 back 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 jackets to take you away!  And thats because back then blog here selling products her explanation online was insanely complex and time consuming.  Pretty much as non-passive as a business receives. .

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