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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 flows. Whether you're just starting your business, or you have been running it some time, the sooner you get started thinking about how you are going to shift your business design to create more passive income, the sooner you can attain personal and financial freedom. .

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

An insurance agent who gets a commission annually when a customer renews his policy.A network marketing or direct sales rep's income from her direct clients when they reorder merchandise every month.An aerobics instructor that produces a video and sells it in the gyms where she's teaches.A marketing consultant who creates a workbook and sells it in e-book format 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 ways to generate residual income across a wide variety of businesses. It might be recurring income from the very same customers or the earnings of a product to new customers. It could require no personal involvement in any respect, such as an e-book sold on a web site, or it may require some personal interaction, like the insurance agent calling the client to remind them regarding their renewal.

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

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

An e-book author selling her e-book through associates who promote the product.A network marketer who builds a downline and receives commissions on the sales generated 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 models 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 might or might not also be residual income. When you combine them, that is even better.

This type of income requires your immediate 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 just paying you a direct hourly rate. Fill in a room with 1,000 individuals paying $50 each and you can cover your facility price, 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 confident you are conscious of the concept of passive income or residual income. Most probably, you've already been searching the Internet for 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 goal or the reason but you have not been really very successful so far at creating a normal source of passive income. The reason might be that you do not believe it's 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 ways of generating passive residual income.

These best site notions have worked for others and can work for you too. Pick one or two or more which suit your interest, experience and background. Once you've decided 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 occupation or business.

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This is perhaps one of the most recommended methods of earning a passive income. Having a website which has great readership of regular as new readers can give access 2 more than one source of passive income.