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There are many different strategies to generate residual income across a wide variety of businesses. It might be recurring income by the very 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 web site, or it may need some personal interaction, such as the insurance agent calling the customer to remind them about their renewal.

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

This frees 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 that 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 job done by subcontractors.Franchising your business model into other entrepreneurs (the ultimate leveraged income). .

Again, there are many different versions in many different businesses. The key is that you are 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 need your immediate participation, your earning potential is a lot greater than when someone was just paying you a direct hourly fee. Fill in a room with 1,000 click to investigate people paying $50 each and you can pay for your facility cost, promotional cost, and staffing prices and have a nice chunk of change left over. .

From the smart ideas 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 flow there's.

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

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Unfortunately no one has even till this afternoon made an entire list. I spent the last week getting loaded 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 find more info 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 compose a quality 20,000 word ebook (insanely not passive hahahah), but then 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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As you can observe passive income flows simply come out of resources, and resources are bought with money (eg rental property) or in the case of most of the ideas below, bought through perspiration (eg ebook)!

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The much loved model for bloggers and content creators everywhere and for a good reasonits pretty simple to write a 60-80 page ebook, not difficult to sell say $500 value a month through online networking, guest posting and your own SEO optimized site, and well you get to maintain a large whack of this pie after paying affiliates.  Hells yeah!  Continue reading .

Who doesnt like some down and dirty affiliate commissions!  Particularly in the event that you understand it can be even easier to earn money in this way than using an ebook.  After all, you merely need to concentrate on pumping some content for your own site and getting the traffic 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 back that this would end up being my #1 source of passive income, I would have slapped you silly and called the men in white jackets to take you away!  And because back then selling products online was insanely complicated and time consuming.  Pretty much as non-passive as a business gets. .

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