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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 are just starting your business, or you've been running it a while, the sooner you start thinking about how you are 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 sort of income which, although not passive, still is a key approach for earning more and working less.

An insurance agent who receives a commission annually when a client renews his policy.A network marketing or direct sales rep's income from her guide clients when they reorder product every month.An aerobics instructor that produces a video and sells it in the gym at which she teaches.A marketing consultant who produces a workbook and sells it all in e-book format on the Internet.A photographer who earns his photographs available through a stock photography clearinghouse and gets paid a royalty whenever someone buys 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 sold on a web site, or it can require some personal interaction, such as the insurance agent calling the customer to remind them about their renewal.

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

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

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An e-book writer selling her e-book through affiliates who 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 supreme leveraged income). .

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Again, there are many different versions in many different businesses. The key is helpful resources that you are making money off of other people's labor, rather than mainly 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 direct participation, your earning potential is much great post to read higher than if someone was just paying you an immediate hourly fee. Fill in a room with 1,000 people paying $50 each and you can cover your facility price, promotional price, and staffing prices 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 that you are aware of the concept of passive income or residual income. Most probably, you've already been searching the Internet for best passive residual income ideas.

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You might have thought about creating one or several streams of passive income to live a comfortable life or make superior savings. Whatever is your aim or the reason but you have not been really very powerful so far at creating a normal supply of passive income. The reason might be that you do not think it is true.

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

These notions have worked for many others and can work for you also. Choose one or 2 or more which match your interest, experience and background. Once you've opted to work on them, then there should not be any looking back.

It's quite possible if you are 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 occupation 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 since new subscribers can give access 2 more than one source of passive income.

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