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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've been running it a while, the sooner you start thinking about how you are going to change 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 type of income which, although not passive, still 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 direct customers when they reorder product every month.An aerobics instructor that creates a movie and sells it at the gym at which she teaches.A marketing consultant who creates a workbook and sells it in e-book format on the Internet.A photographer who makes his photographs 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 array of businesses. It may be recurring income from the same clients or the sales of a product to new customers. It may require no personal involvement in any respect, such as an e-book sold on a website, or it may 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 require your involvement to earn the income. By way of example, a coach or consultant on a monthly retainer, or a secretary who delivers lunch each Monday into the local school board has recurring income, but it comes in recurring work that limits on your earning capacity based on your own personal production ability. .

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This leverages the work of different people to create 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 assembles a downline and receives commissions on the sales made by people in his downline.A general contractor who makes a profit margin on the job done by subcontractors.Franchising your business model to 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 labour, rather than primarily your own. Note that leveraged income may or may not be residual income. When you combine them, that is even better.

This type of income requires your immediate participation, but you can make more money by having more people involved. This generally involves a one-time event, for example:

Though these require your direct participation, your earning potential is much greater than when someone was paying you an immediate hourly fee. 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 you are aware of the concept of passive income or residual income. Most probably, you have been searching the Internet for the best passive residual income ideas.

You may have thought of creating one or a explanation 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 powerful so far at creating a normal source of passive income. The reason might be that you do not believe it is 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 for 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've opted to work on them, then you certainly should not be any looking back.

It is fairly possible if you're 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 occupation or business.

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This is perhaps one of the most recommended ways of earning a passive income. Having a blog which has good readership of routine since new readers can give access 2 more than one source of passive income.