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There are many different strategies to generate residual income over a wide array of businesses. It might be recurring income from the same customers or the earnings of a product to new customers. It may require no personal involvement in any respect, like an e-book sold on a web site, or it may 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 that might still need your involvement to earn your income. For instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch each 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 capacity. .

This leverages the work of different people to create income for you. Some examples of leveraged income include:

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An e-book author selling her e-book through associates that promote the product.A network marketer that builds 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 into other entrepreneurs (the supreme leveraged income). .

Again, there are many different models in many different businesses. The key is that you're making money from other people's labor, rather than mainly 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, such as:

Though these require your direct participation, your earning potential is a lot higher 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 fees and still have a nice chunk of change left over. .

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

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

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Unfortunately no one has even till this day made a complete list. So 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 beloved real-life passive income businesses here.

Ie first you need to click for more info 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 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 observe passive income streams simply come out of resources, and resources are either bought with money (eg rental property) or even in the event of almost all of the ideas below, bought through sweat (eg ebook)!

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The much loved model for bloggers and content creators everywhere and to get a good reasonits pretty simple to write 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 commissions!  Especially if you understand it can be even simpler to earn money in this way than using an ebook.  After all, you merely need to concentrate on pumping out some content to your own site and getting the visitors in, often via Google or societal websites.  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 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 coats to take you away!  And because back then selling goods online was insanely complicated and time consuming.  Pretty much as non-passive as a business receives. .

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