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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 some time, the sooner you get started thinking about how you are going to shift your business model to create more passive income, the sooner you can attain personal and financial freedom. .

There are two main kinds of passive income and a third type of income which, while not passive, nevertheless is an integral strategy for earning more and working less.

An insurance agent who receives a commission annually when a client 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 format on the Internet.A photographer who earns 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 over a wide array of businesses. It may be recurring income from the same customers or the earnings of a product to new customers. It could necessitate no personal involvement whatsoever, such as an e-book offered on a website, or it can require 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 that might still need your involvement to earn your income. By way of example, a coach or consultant on a monthly retainer, or a secretary who delivers lunch each Monday to the local school board has recurring income, however it comes from recurring work which limits on your earning ability based on your own personal production capacity. .

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This leverages the work of other folks to make income for you. A Few Examples of leveraged income include:

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An e-book writer 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 supreme leveraged income). .

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Again, there are many different models in many different businesses. The key is that you are 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 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 require your immediate participation, your earning potential is a lot higher than when someone was just paying you a direct hourly rate. Fill a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional price, and staffing fees 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 probably, you have already been searching the Internet for best passive residual income thoughts.

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You might have thought about creating one or a number of streams of passive income to live a comfortable life or create good savings. Whatever is the aim or the reason but you have not been really quite successful 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 gives you a few practical and well tried ways of generating passive residual income.

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

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

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This is perhaps one of the most recommended ways of earning a passive income. Having a website that has good readership of routine as new subscribers can give access 2 more than one source of passive income.

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