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

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

This leverages the work of other 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 associates who promote the product.A network marketer that 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 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 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:

Though these require your direct participation, your earning potential is much higher than if someone was just paying you a direct hourly rate. Fill in a room with 1,000 people paying $50 each and you can cover your facility price, promotional price, and staffing fees and have a nice chunk of change left over. .

In the Your Domain Name wise ideas like an online course to the dress-me-in-the-white-jacket ideas like writing posts for adsense, Ive thought about nearly every passive income flow there's.

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

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Unfortunately no one has even till this afternoon made a complete 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 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 haul ass and do something crazy, 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 iPhone each morning available after sale after sale is madeon an ongoing basis and without any additional work.

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As you can see passive income streams simply come from resources, and assets are either bought with money (eg rental property) or even in the case of most of the ideas under, bought through perspiration (eg ebook)!

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The much loved version for bloggers and content creators everywhere and for a fantastic reasonits pretty easy to write a 60-80 page ebook, not difficult to market say $500 worth a month through online networking, guest go to website 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 fees!  Particularly if you realize it can be even simpler to earn money in this way than using an ebook.  In the end, you merely need to concentrate on pumping some content to your own site and getting the visitors in, often via Google or societal websites.  Unsurprisingly, most people can enjoy their very first affiliate sale within 30 days of starting a site.  Continue reading .

If you told me a few years back 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 jackets to take you away!  And because back then selling goods online was insanely complex and time consuming.  Pretty much as non-passive as a business gets. .

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