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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're 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 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 an integral strategy for earning more and working less.

An insurance agent who receives a commission every year when a customer 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 creates a movie and sells it in the gyms where she's 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 buys one of his images. .

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There are many different ways to generate residual income across a wide variety of businesses. It may be recurring income by the same clients or the sales of a product to new customers. It could necessitate no personal involvement whatsoever, like an e-book offered on a website, or it may need some personal interaction, such as 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 the income. By way of example, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday into the local school board has recurring income, but it comes in recurring work which limits on your earning capacity based on your own personal production ability. .

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This leverages the work of other people 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 job 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 labour, rather than mainly your own. Note that leveraged income may or may not be residual income. When you combine them, that's even better.

This sort 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 need your direct participation, your earning potential is much higher than if someone was paying you a direct hourly fee. Fill in a room with 1,000 individuals paying $50 each and you can pay for your facility cost, promotional price, 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 sure you are conscious of the concept of passive income or residual income. Most probably, you have been searching the Internet for the best passive residual income thoughts.

You might have thought of creating one or several streams of passive income to live a comfortable life or make superior savings. that site Whatever is the aim or the reason but you have not been really quite powerful so far at creating a normal source 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 good news is that this site 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've opted to work on them, then there should not be any looking back.

It's fairly possible if you are consistent and persistent then over 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 maybe one of the most recommended methods of earning a passive income. Having a website that has great readership of regular since new readers can provide access 2 more than one source of passive income.