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If you want to earn more, work less, and have a comfortable retirement, it is important to begin creating passive income streams. Whether you are just starting your business, or you have been running it some time, the sooner you start thinking about how you're going to shift your business design to create more passive income, the sooner you can attain personal and financial freedom. .

There are two basic types of passive income and also a third type of income that, although not passive, still is a key approach for earning more and working less.

An insurance agent who receives a commission annually when a customer renews his policy.A network marketing or direct sales rep's income from her guide clients when they reorder merchandise every month.An aerobics instructor that creates a movie and sells it in the gyms where she teaches.A marketing consultant who creates a workbook and sells it all in e-book arrangement on the Internet.A photographer who makes his photos available via a stock photography clearinghouse and gets paid a royalty whenever someone buys one of his images. .

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There are many different strategies to generate residual income across a huge array of businesses. It may be recurring income from the very same customers or the earnings of a product to new clients. It could necessitate no personal involvement whatsoever, such as an e-book offered on a web site, or it can 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 require your involvement to earn your income. For example, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch each Monday into the local school board has recurring income, but it comes in recurring work that restricts on your earning capacity based on your own personal production capacity. .

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

An e-book author selling her e-book through associates who 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). .

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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.

This sort of income requires your immediate participation, but you can earn more money by having more people involved. This generally involves a one-time event, for example:

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

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If you're in the Internet business, then I am sure you are conscious of the concept of passive income or residual income. Most probably, you have been searching the Internet for the best passive residual income ideas.

You might have thought of creating one or a number of streams of passive income to live a comfortable life or create good savings. Whatever is the aim or the reason but you have not been really very successful so far at creating a regular source of passive income. The reason could be that you do not believe it is true.

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Whatever is the actual reason in the background, the good news is that this site provides you a few hop over to these guys practical and well tried methods for generating passive residual income.

These ideas have worked for many others and can work for you too. Choose one or two or more which suit your interest, experience and background. Once you have opted to work on these, then there should not be any looking back.

It's fairly possible if you're consistent and persistent then over a time period you may build a substantial residual income. Dont be surprised is this passive income amount exceeds your main income from your regular occupation or business.

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This is perhaps one of the most recommended ways of earning a passive income. Having a blog which has good readership of regular since new subscribers can give access two more than one source of passive income.