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If you want to earn more, work less, and have a comfortable retirement, it's 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 start thinking about how you're going to change 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 sort 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 customer renews his policy.A network marketing or direct sales rep's income from her direct customers when they reorder product every month.An aerobics instructor who creates 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 arrangement on the Internet.A photographer who earns his photos 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 strategies to generate residual income over a huge array of businesses. It may be recurring income by the very same clients or the sales of a product to new clients. It may require no personal involvement whatsoever, like an e-book sold on a website, or it can 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 require your involvement to earn your income. For instance, a coach or consultant on a monthly retainer, or a secretary who delivers lunch each Monday into 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 leverages the work of different folks to make income for you. Some examples of leveraged income include:

An e-book author selling her e-book through affiliates that promote the product.A network marketer that 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're making money from other people's labour, rather than primarily your own. Note that leveraged income might or might not be residual income. When you combine them, that's even better.

This type of income requires your direct participation, but you can earn more money by having more people involved. This generally involves Visit This Link a one-time event, such as:

Although these require your immediate participation, your earning potential is a lot higher than when someone was just paying you an immediate hourly rate. Fill a room with 1,000 individuals paying $50 each and you can pay for 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 confident you are conscious of the concept of passive income or residual income. Most likely, you have 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 make good savings. Whatever is your goal or the reason but you have not been really quite successful so far at creating a normal supply 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 blog gives you a few practical and well tried ways of generating passive residual income.

These ideas have worked for others and can work for you too. Pick one or 2 or more which suit your interest, experience and background. Once you have decided to work on these, then there should not be any Your Domain Name looking back.

It is quite possible if you are consistent and persistent then over a period of time you may build a substantial residual income. Dont be surprised is that this passive income amount exceeds your main income from your regular job or business.

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This is perhaps one of the most recommended ways of earning a passive income. Having a website which has good readership of regular since new readers can give access two more than one source of passive income.