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If you want to earn more, work less, and have a comfortable retirement, it is 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 start thinking about how you are 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 also a third sort of income that, while not passive, still is a key approach 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 direct clients when they reorder product every month.An aerobics instructor that creates a video and sells it in the gym at which she teaches.A marketing consultant who creates a workbook and sells it in e-book arrangement on the Internet.A photographer who earns his photographs 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 ways to generate residual income over a huge variety of businesses. It may be recurring income by the same customers or the sales of a product to new clients. It may necessitate no personal involvement whatsoever, such as an e-book offered on a web site, or it may require some personal interaction, like 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 the income. For instance, a mentor 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 from recurring work that restricts on your earning ability based on your own personal production ability. .

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

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An e-book writer selling her e-book through associates who promote the product.A network marketer who 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 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 labour, rather than mainly your own. Note that leveraged income may or may not be residual income. When you combine them, that's even better.

This sort of income requires your direct participation, but you can make more money by having more people involved. This generally involves a one-time event, such as:

Though these need your immediate participation, your earning potential is a lot higher than when someone was just paying you a direct hourly fee. Fill a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional price, and staffing fees 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.

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You may have thought of creating one or a number of streams of passive income to live a comfortable life or make superior savings. Whatever is your goal or the reason but you have not been really very successful so far at creating a check out this site normal 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 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 2 or more which suit your interest, experience and background. Once you've decided to work on them, then you certainly should not be any looking back.

It is quite possible if you are consistent and persistent then over a time period 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 maybe one of the most recommended methods of earning a passive income. Having a blog that has great readership of regular as new subscribers can provide access 2 more than one source of passive income.

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