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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're just starting your business, or you've been running it some time, the sooner you start thinking about how you're going to shift your business model to create more passive income, the sooner you can attain personal and financial freedom. .

There are two basic types of passive income and also a third type of income which, while not passive, nevertheless is a key strategy for earning more and working less.

An insurance agent who gets a commission annually 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 creates a video 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 makes his photos available through a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his images. .

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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 clients or the earnings of a product to new customers. It could necessitate no personal involvement whatsoever, such as an e-book sold on a web site, or it can require some personal interaction, like the insurance agent calling the customer to remind them about their renewal.

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

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This frees the work of different people to create income 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 go now generated 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 off of other people's labour, rather than mainly 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, such as:

Though these require your immediate participation, your earning potential is much higher than if someone was just paying you a direct 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 fees and still have a nice chunk of change left over. .

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If you are in the Internet business, then a fantastic read I am confident you are conscious of the concept of passive income or residual income. Most probably, you've already been searching the Internet for the best passive residual income ideas.

You may have thought about creating one or a number of streams of passive income to live a comfortable life or create good savings. Whatever is your aim or the reason but you have not been really quite successful 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 fantastic news is that this site gives you a few practical and well tried methods for generating passive residual income.

These ideas have worked for others and can work for you also. Choose one or two or more which match your interest, experience and background. Once you have opted to work on them, then there should not be any looking back.

It is quite possible if you are consistent and persistent then within 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 job or business.

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This is maybe one of the most recommended methods of earning a passive income. Having a website that has good readership of regular since new official website readers can provide access two more than one source of passive income.