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If you want to earn more, work less, and have a comfortable retirement, it's important to start creating passive income flows. Whether you are just starting your business, or you've been running it some time, the sooner you get started thinking about how you are going to change your business model to create more passive income, the sooner you can achieve personal and financial freedom. .

There are two basic types of passive income and a third type of income that, while not passive, nevertheless is an integral approach for earning more and working less.

An insurance agent who gets a commission annually when a client 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 produces a video and sells it in the gym at which she's teaches.A marketing consultant who produces a workbook and sells it in e-book format on the Internet.A photographer who makes his photos available via a stock photography clearinghouse and has paid a royalty whenever someone purchases one of his images. .

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There are many different ways to generate residual income over a huge array of businesses. It might be recurring income by the same clients or the sales of a product to new customers. It may necessitate no personal involvement in any respect, like an e-book offered on a website, or it may require some personal interaction, like the insurance agent calling the client to remind them regarding their renewal.

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

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

An e-book author selling her e-book through affiliates who promote the product.A network marketer you could try this out who assembles 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 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 from other people's labor, rather than mainly 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 make more money by having more people involved. This generally involves a one-time event, for example:

Although these need your direct participation, your earning potential is a lot higher than if someone was paying you a direct hourly fee. Fill in a room with 1,000 people paying $50 each and you can pay for your facility price, promotional price, and staffing prices 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've already been searching the Internet for best passive residual income thoughts.

You may have thought about creating one or a number of streams of passive income to live a comfortable life or create superior savings. Whatever is the aim 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 believe it is true.

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Whatever is the real 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 notions have worked for many others and can work for you also. Pick one or two or more which suit your interest, experience and background. Once you've 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 ways of earning a passive income. Having a website that has good readership of routine since new subscribers can provide access 2 more than one source of passive income.