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If you want to earn more, work less, and have a comfortable retirement, it is important to start creating passive income streams. Whether you're just starting your business, or you have been running it a while, 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, 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 clients when they reorder product every month.An aerobics instructor who creates a video and sells it at the gyms where she teaches.A marketing consultant who produces a workbook and sells it all in e-book arrangement on the Internet.A photographer who makes his photos available through a stock photography clearinghouse and has paid a royalty whenever someone buys one of his pictures. .

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There are many different strategies to generate residual income across a huge array of businesses. It might be recurring income from the very same clients or the sales of a product to new customers. It could require no personal involvement in any respect, like an e-book sold on a web site, or it may need some personal interaction, such as the insurance agent calling the client to remind them about their renewal.

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

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This leverages the work of other folks to create income for you. Some 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 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 ultimate 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 other also be residual income. When you combine them, that is 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, for example:

Although these need your direct participation, your earning potential is much greater than when someone was paying you an immediate hourly fee. Fill in a room with 1,000 individuals 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 are in the Internet business, then I am confident you are aware of the concept of passive income or residual income. Most probably, you've been searching the Internet for best passive residual income thoughts.

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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 your goal or the reason but you have not been really very powerful so far at creating a normal supply of passive income. The reason could be that you do not believe it is true.

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

These ideas 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 have decided to work on these, then there should not be any looking back.

It is quite possible if you're consistent and persistent then over a time period you may build a substantial residual income. Dont be surprised is that 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 ways of earning a passive income. Having a website which has good readership of routine as new subscribers can give access 2 more than one source of passive income.

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