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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 streams. Whether you're just starting your business, or you have been running it some time, the sooner you start thinking about how you're going to shift 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 type of income which, although not passive, still is a key strategy for earning more and working less.

An insurance agent who gets a commission every year when a customer renews his policy.A network marketing or direct sales rep's income from her direct customers when they reorder merchandise every month.An aerobics instructor who creates a video and sells it in 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 photos available via a stock photography clearinghouse and gets paid a royalty whenever someone buys 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 customers or the sales of a product to new clients. It could necessitate no personal involvement whatsoever, like an e-book offered on a web site, or it can need some personal interaction, such as the insurance agent calling the customer to remind them regarding 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 secretary who delivers lunch each Monday into 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 ability. .

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This leverages the work of different folks to make income for you. A Few Examples of leveraged income include:

An e-book writer selling her e-book through affiliates who promote the product.A network marketer who builds a downline and receives resource commissions on the sales generated 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're 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's 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 direct participation, your earning potential is much higher than when someone was paying you a direct hourly fee. Fill in a room with 1,000 individuals 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're in the Internet business, then I am sure you are conscious of the concept of passive income or residual income. Most likely, you have been searching the Internet for the best passive residual income ideas.

You may have thought about creating one or several streams of passive income to live a comfortable life or create superior savings. Whatever is your aim or the reason but you have not been really very powerful so far at creating a normal source of passive income. The reason might be that you do not believe it's 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 ways of generating passive residual income.

These ideas have worked for others and can work for you too. Pick 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's fairly possible if you are consistent and persistent then over a time period you will build a substantial residual income. Dont be surprised is this passive income amount exceeds your main income from your regular click here for info 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 great readership of routine since new readers can give access 2 more than one source of passive income.