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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 a while, the sooner you start thinking about how you are going to change your business design to create more passive income, the sooner you can achieve personal and financial freedom. .

There are two basic types of passive income and also a third sort of income which, although not passive, still 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 direct customers when they reorder product every month.An aerobics instructor who produces a movie and sells it at the gym at which she teaches.A marketing consultant who produces a workbook and sells it in e-book format on the Internet.A photographer who earns his photos available through a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his pictures. .

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There are many different strategies to generate residual income across a wide array of businesses. It might be recurring income by the very same clients or the earnings of a product to new clients. It could require no personal involvement in any respect, such as an e-book sold on a web site, or it can need some personal interaction, such as 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. By way of instance, 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 that restricts on your earning capacity based on your own personal production ability. .

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This frees the work of other people to go make income for you. A Few Examples of leveraged income include:

An e-book author selling her e-book through associates who promote the product.A network marketer that assembles 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 supreme leveraged income). .

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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 primarily your own. Note that leveraged income may or may not also be residual income. When you combine them, click here for more that's 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, such as:

Although these require your immediate participation, your earning potential is a lot higher than if someone was 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 cost, and staffing prices and still have a nice chunk of change left over. .

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If you're in the Internet business, then I am confident that you are aware of the concept of passive income or residual income. Most probably, you've already been searching the Internet for the best passive residual income ideas.

You might have thought about creating one or several streams of passive income to live a comfortable life or make superior savings. Whatever is the goal or the reason but you have not been really quite successful so far at creating a regular source of passive income. The reason might be that you do not think it is true.

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

These ideas have worked for others and can work for you also. Choose one or 2 or more which suit your interest, experience and background. Once you've decided to work on them, then there should not be any looking back.

It is quite possible if you're consistent and persistent then over a time period you may 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 ways of earning a passive income. Having a website which has good readership of regular since new subscribers can provide access two more than one source of passive income.