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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 are just starting your business, or you have been running it some time, the sooner you get started thinking about how you're 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 a third type of income that, although not passive, still is an integral 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 guide customers when they reorder product every month.An aerobics instructor that produces a movie and sells it in the gym at which she 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 purchases one of his pictures. .

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There are many different ways to generate residual income across a wide variety of businesses. It may be recurring income by the very same clients or the earnings of a product to new clients. It could necessitate no personal involvement whatsoever, like an e-book offered on a website, or it may need some personal interaction, like 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 the income. For instance, a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to 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 ability. .

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

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An e-book writer selling her e-book through associates that promote the product.A network marketer go to my blog 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 job 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 off of other people's labor, rather than primarily your own. Note that leveraged income might or might not be residual income. When you combine them, that's even better.

This type of income requires your direct 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 greater than when someone was paying you a direct hourly rate. Fill a room with 1,000 Click This Link people paying $50 each and you can pay for 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 confident you are conscious of the concept of passive income or residual income. Most likely, you've been searching the Internet for best passive residual income ideas.

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You may have thought about creating one or a number of streams of passive income to live a comfortable life or make good savings. Whatever is the aim or the reason but you have not been really very successful so far at creating a regular supply of passive income. The reason might be that you do not think it's true.

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

These notions have worked for many others and can work for you too. Pick one or two or more which match your interest, experience and background. Once you have opted to work on them, 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 occupation or business.

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This is perhaps one of the most recommended ways of earning a passive income. Having a blog which has good readership of regular as new subscribers can give access 2 more than one source of passive income.

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