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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 flows. Whether you're just starting your business, or you've been running it some time, the sooner you start thinking about how you are going to change your business model to create more passive income, the sooner you can attain personal and financial freedom. .

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

An insurance agent who gets a commission annually when a customer renews his policy.A network marketing or direct sales rep's income from her direct clients when they reorder product every month.An aerobics instructor that produces a movie and sells it at the gyms where she's teaches.A marketing consultant who creates a workbook and sells it all in e-book format 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 ways to generate residual income across a wide variety of businesses. It might be recurring income by the very same clients or the sales of a product to new clients. It could require no personal involvement in any respect, such as an e-book sold on a website, 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 that might still need your involvement to earn your income. For instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every 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 people to create income for you. Some image source examples of leveraged income include:

An e-book author selling her e-book through associates that 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 to other entrepreneurs (the ultimate 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 mainly your own. Note that leveraged income might or might not also be residual income. When you combine them, that is even better.

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:

Although these require your immediate participation, your earning potential is much greater than when someone was just paying you an immediate hourly fee. Fill in a room with 1,000 people paying $50 each and you can cover your facility cost, promotional price, and staffing prices and have a nice chunk of change left over. .

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

You might have thought of creating one or several streams of passive income to live a comfortable life or create good savings. Whatever is your aim or the reason but you have not been really quite successful so far at creating a normal supply of passive income. The reason could be that you do not believe it's true.

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Whatever is the actual reason in the background, the fantastic news is that this site 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. Pick one or 2 or more which suit your interest, experience and background. Once you have decided 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 period of time 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 find recommended methods of earning a passive income. Having a website that has great readership of regular since new subscribers can give access two more than one source of passive income.