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There are many different ways to generate residual income across a wide array of businesses. It might be recurring income from the same clients or the earnings of a product to new customers. It could require no personal involvement whatsoever, like an e-book offered on a web site, or it may require some personal interaction, like the insurance agent calling the client to remind them about their renewal.

Note that this is different from recurring income which may still need your involvement to earn the income. By way of instance, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch each Monday into the local school board has recurring income, but it comes from recurring work which restricts on your earning ability based on your own personal production ability. .

This leverages the work of different folks 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 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 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're making money off of other people's labour, rather than mainly your own. Note that leveraged income might or might 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 make more money by having more people involved. This generally involves a one-time event, for example:

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

In the wise notions like an online path 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 of the potential 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 head, my notes and the net interwebs!

PS if you want to cut to the chase you can get access to 3 of my favorite passive income ideas 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 crazy, eg write a quality 20,000 word blossom (insanely not passive hahahah), but then Recommended Site you have to sit back and enjoy seeing PayPal sale messages pop up on your own iPhone each morning as sale after sale after sale is madeon an ongoing basis and without any additional effort.

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Because you can see passive income streams simply come from assets, and assets are bought with money (eg rental property) or in the case of almost all of the ideas under, bought through sweat (eg ebook)!

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The much adored version for bloggers and content creators everywhere and for company website a fantastic reasonits pretty easy to write a 60-80 page ebook, not difficult to sell 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!  Particularly in the event that you understand it can be even simpler to earn money this way than with an ebook.  In the end, you simply need to concentrate on pumping out some content to your own site and getting the visitors in, often via Google or social media.  Unsurprisingly, the majority of people can enjoy their 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 the men in white coats to come 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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