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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 are just starting your business, or you have been running it a while, the sooner you get started thinking about how you are 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 also a third type of income that, while not passive, nevertheless is an integral 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 guide customers when they reorder product every month.An aerobics instructor who creates a movie and sells it at the gyms where she teaches.A marketing consultant who produces a workbook and sells it 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 purchases one of his images. .

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There are many different strategies to generate residual income across a huge variety of businesses. It might be recurring income by the very same customers or the sales of a product to new clients. It could require no personal involvement whatsoever, such as an e-book sold on a web site, or it can require some personal interaction, like the insurance agent calling the client 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 mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday to the local school board has recurring income, however it comes in recurring work that restricts on your earning capacity based on your own personal production capacity. .

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This leverages the work of other folks to create 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 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 company website 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 labor, rather than primarily your own. Note that leveraged income might or might not also be residual income. When you 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:

Though these require your immediate participation, your earning potential is a lot greater than if someone was paying you a direct hourly rate. Fill a room with 1,000 individuals 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 are in the Internet business, then I am sure you are conscious of the concept of passive income or image source residual income. Most probably, you've already been searching the Internet for best passive residual income thoughts.

You may have thought about creating one or several streams of passive income to live a comfortable life or make good savings. Whatever is the aim or the reason but you have not been really quite powerful so far at creating a regular 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 site provides you a few practical and well tried ways for generating passive residual income.

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

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

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This is maybe one of the most recommended ways of earning a passive income. Having a blog which has great readership of routine since new subscribers can provide access 2 more than one source of passive income.