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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 a while, the sooner you get started thinking about how you're 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 also a third type of income that, 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 direct clients when they reorder merchandise 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 arrangement on the Internet.A photographer who makes his photos available via a stock photography clearinghouse and has paid a royalty whenever someone purchases one of his pictures. .

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There are many different strategies to generate residual income across a huge array of businesses. It may be recurring income by the very same clients or the earnings of a product to new customers. It could require no personal involvement in any respect, such as an e-book offered on a website, or it can require some personal interaction, such as the insurance agent calling the client to remind them regarding their renewal.

Note that this is different from recurring income which may still need your involvement to earn the income. For example, a mentor 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 that limits 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 author selling her e-book through associates that promote the product.A network marketer that 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 job 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 are making money from other people's labor, rather than primarily your own. Note that leveraged income may or may 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, for example:

Although these require your direct participation, your earning potential is a lot higher than when someone was just paying you an immediate hourly fee. Fill a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional cost, and staffing fees 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 conscious of the concept of passive income or residual income. Most likely, you've already been searching the Internet for the best passive residual income ideas.

You may have thought of creating one or several streams of passive income to live a comfortable life or make superior savings. Whatever is the goal 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 think it's true.

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

These notions have worked for many others and can work for you also. Choose one or two or more which suit your interest, experience and background. Once you've decided to work on these, then you certainly should not be any looking back.

It's quite possible if you are consistent and persistent then within a period of time you will 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 perhaps one of the most recommended methods of earning a passive income. Having a website which has great readership of routine since new readers can give access 2 more than one source of passive income.