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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 a while, the sooner you start thinking about how you are 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 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 every year when a client 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 who produces a movie and sells it at the gyms where she teaches.A marketing consultant who creates a workbook and sells it all in e-book format 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 pictures. .

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There are many different strategies to generate residual income over a wide array of businesses. It might be recurring income from 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 website, or it may 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 need your involvement to earn the income. By way of instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday to the local school board has recurring income, however it comes in recurring work that limits on your earning ability based on your own personal production ability. .

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This frees the work of different people to make income linked here 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 that builds 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 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 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 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, for example:

Though these need your direct participation, your earning potential is a lot higher than if someone was just paying you a direct hourly rate. Fill in a room with 1,000 people paying $50 each and you can cover your facility cost, promotional price, and staffing fees 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 already been searching the Internet for best passive residual income ideas.

You may have thought about creating one or several streams of passive income to live a comfortable life or make good savings. Whatever is the goal or the reason but you have not been really quite powerful so far at creating a regular source of passive income. The reason could be that you do not think it's true.

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

These notions 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 these, then you certainly should not be any looking back.

It's quite possible if you're consistent and persistent then within 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 job or business.

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