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If you want to earn more, work less, and have a comfortable retirement, it is 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 start thinking about how you are going to shift your business design to create more passive income, the sooner you can achieve personal and financial freedom. .

There are two main kinds of passive income and a third sort of income that, while not passive, nevertheless is a key strategy for earning more and working less.

An insurance agent who receives a commission every year when a client 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 produces a movie and sells it in the gyms where she's teaches.A marketing consultant who produces a workbook and sells it all 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 pictures. .

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There are many different strategies to generate residual income over a wide array of businesses. It might be recurring income from the same customers or the sales of a product to new customers. It may require no personal involvement whatsoever, such as an e-book offered on a web site, 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 need your involvement to earn your income. By way of instance, 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 in recurring work which limits on your earning capacity based on your own personal production capacity. .

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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 writer selling her e-book through affiliates that promote the product.A network marketer that 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 off of other people's labor, 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 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 need your direct participation, your earning potential is much greater than when someone was paying you an immediate hourly rate. Fill in a room with 1,000 people 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 are in the Internet business, then I am sure you are conscious of the concept of passive income or residual income. Most likely, 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 superior savings. Whatever is your goal or the reason but you look at here have not been really quite successful so far at creating a regular source of passive income. The reason could 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 gives you a few practical and well tried ways for generating passive click for source residual income.

These ideas have worked for many others and can work for you too. Choose one or two or more which suit your interest, experience and background. Once you've opted to work on them, then you certainly should not be any looking back.

It's quite possible if you are consistent and persistent then within a time period you will 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 methods of earning a passive income. Having a website that has great readership of regular as new subscribers can give access 2 more than one source of passive income.