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If you want to earn more, work less, and have a comfortable retirement, it's important to begin creating passive income streams. Whether you're just starting your business, or you have been running it a while, the sooner you start thinking about how you're going to change 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 sort of income that, while not passive, nevertheless is an integral strategy 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 customers when they reorder merchandise every month.An aerobics instructor who produces a video and sells it at the gym at which she's teaches.A marketing consultant who creates a workbook and sells it in e-book arrangement on the Internet.A photographer who makes his photographs available through a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his images. .

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There are many different strategies to generate residual income over a huge variety of businesses. It may be recurring income from the very same clients or the earnings of a product to new clients. It may necessitate no personal involvement in any respect, such as 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 about their renewal.

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

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

An e-book author selling her e-book through affiliates that 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). .

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Again, there are many different models in many different businesses. The key is that you are making money from other people's labour, rather than primarily your own. Note that leveraged income may or may not also be residual income. When you combine them, that is even better.

This type 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 need your immediate participation, your earning potential is a lot higher than when someone was paying you an immediate hourly rate. Fill in a room with 1,000 people paying $50 each and you can cover your facility price, promotional cost, and staffing fees and still have a nice chunk of change left over. .

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If you are in the Internet business, then I am confident that you are aware of the concept of passive income or residual income. Most likely, you have already 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 your goal or the reason but you have not been really very powerful so far at creating a normal supply of passive income. The reason could be that index you do not believe it's true.

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Whatever is the real reason in the background, the good news is that this blog gives you a few practical and well tried methods of generating passive residual income.

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

It is quite possible if you are consistent and persistent then over a time period you will build a substantial residual income. Dont be surprised is that this passive income amount exceeds your main income from your regular occupation or business.

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This is maybe one of the most recommended methods of earning a passive income. Having a website which has good readership of routine as new readers can give access 2 more than one source of passive income.