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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've been running it some time, 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 sort of income that, although 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 guide customers when they reorder product every month.An aerobics instructor who creates a movie and sells it at the gym at which 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 gets 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 might be recurring income by the same clients or the earnings of a product to new clients. It may require no personal involvement in any respect, like an e-book sold on a website, or it can need some personal interaction, such as the insurance agent calling the customer to remind them about their renewal.

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

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This frees the work of other folks to make income for you. Some examples of leveraged income include:

An e-book writer selling her e-book through affiliates who promote the product.A network marketer who 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 work done by subcontractors.Franchising your business model into other entrepreneurs (the supreme 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 mainly your own. Note that leveraged income may or may not also be residual income. When you combine them, that's even better.

This type of income requires your direct participation, but you can make 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 much higher than if someone was just paying you a direct hourly rate. Fill a room with 1,000 people paying $50 each and you can cover your facility price, promotional cost, and staffing fees and have a nice chunk of change left over. .

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If you're in the Internet business, then I am confident that you are aware of the concept of passive income or residual income. Most probably, you've already been searching the Internet for best passive residual income ideas.

You may have thought about creating one or a number of streams of passive income to live a comfortable about his life or create 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 could be that you do not believe 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 methods of generating passive residual income.

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

It is fairly possible if you're consistent and persistent then within a period of time you will 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 website that has good readership of regular since new readers can give access 2 more than one source of passive income.