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There are many different strategies to generate residual income over a huge array of businesses. It might be recurring income from the same customers or the sales of a product to new customers. It may require no personal involvement in any respect, such as an e-book offered on a website, or it can need some personal interaction, like the insurance agent calling the customer to remind them about their renewal.

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

This leverages the work of other people 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 who builds 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 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 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 direct participation, but you can make more money by having more people involved. This generally involves a one-time event, such as:

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

In 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 is.

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

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Unfortunately no one has even until this afternoon made a complete list. So I spent the past week getting wealthy on strong Ethiopian espresso and compiling every different income flow from my mind, 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 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 write a quality 20,000 word blossom (insanely not passive hahahah), but then you have to sit back and enjoy seeing PayPal sale messages pop up on your iPhone every 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 from resources, and resources are either bought with money (eg rental property) or in the case of most of the ideas under, purchased through sweat (eg ebook)!

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The much adored version for bloggers and content creators everywhere and for a good reasonits pretty simple 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 maintain a large whack of the pie after paying affiliates.  Hells yeah!  Continue reading .

Who doesnt like some down and dirty affiliate commissions!  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 site.  Continue reading .

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

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