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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 some time, the sooner you get started thinking about how you are going to shift 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 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 every year when a customer renews his policy.A network marketing or direct sales rep's income from her guide clients when they reorder product every month.An aerobics instructor who creates a movie and sells it at the gyms where she's teaches.A marketing consultant who produces a workbook and sells it in e-book arrangement 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 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 by the same clients or the sales of a product to new customers. It could require no personal involvement in any respect, like an e-book sold on a website, or it may require 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. For example, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch each Monday to the local school board has recurring income, however it comes in recurring work which restricts on your earning capacity based on your own personal production ability. .

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

An e-book writer selling her e-book through associates who promote the product.A network marketer who 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 work 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're making money from other people's labor, rather than review primarily your own. Note that leveraged income may or may not be residual income. When you combine them, that is even better.

This type 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 need your immediate participation, your earning potential is much higher than when someone was just paying you discover this 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 prices and have click resources a nice chunk of change left over. .

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If you're in the Internet business, then I am confident 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 thoughts.

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

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

These notions have worked for others and can work for you also. Pick one or two or more which suit your interest, experience and background. Once you have decided to work on these, then you certainly should not be any looking back.

It is quite possible if you're 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 job or business.

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This is perhaps one of the most recommended methods of earning a passive income. Having a website that has great readership of routine as new subscribers can give access 2 more than one source of passive income.