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If you want to earn more, work less, and have a comfortable retirement, it's important to start creating passive income streams. Whether you're just starting your business, or you have been running it some time, the sooner you start thinking about how you are going to shift 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 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 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 who produces a video and sells it in the gym at which she teaches.A marketing consultant who creates a workbook and sells it in e-book format on the Internet.A photographer who earns his photographs available via a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his images. .

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There are many different ways to generate residual income over a wide array of businesses. It might be recurring income by the very same customers or the sales of a product to new customers. It may require no personal involvement in any respect, like an e-book offered on a web site, or it can require some personal interaction, like the insurance agent calling the customer to remind them regarding their renewal.

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

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This leverages 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 who promote the product.A network marketer who assembles 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 versions in many different businesses. The key is that you are making money from other people's labor, rather than mainly your own. Note that leveraged income may or may not also be residual income. When you use this link combine them, that's 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 a lot higher 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 pay for your facility cost, promotional cost, and staffing fees and still have a nice chunk of change left view it now over. .

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If you are in the Internet business, then I am sure that you are aware 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 might have thought about creating one or a number of streams of passive income to live a comfortable life or make superior savings. Whatever is the aim or the reason but you have not been really very successful so far at creating a regular supply of passive income. The reason might be that you do not believe it's true.

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Whatever is the real reason in the background, the good 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 too. Choose one or 2 or more which suit your interest, experience try this web-site and background. Once you have decided to work on these, then there should not be any looking back.

It's fairly 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 maybe one of the most recommended methods of earning a passive income. Having a blog which has great readership of regular as new subscribers can provide access 2 more than one source of passive income.