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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 are just starting your business, or you have been running it a while, the sooner you get started thinking about how you are 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 a third type of income which, while not passive, still is an integral 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 who produces a video and sells it at the gyms where 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 gets paid a royalty whenever someone buys one of his images. .

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There are many different strategies to generate residual income over a wide variety of businesses. It might be recurring income from the very same clients or the sales of a product to new customers. It may necessitate no personal involvement in any respect, such as an e-book offered on a web site, or it can require some personal interaction, like the insurance agent calling the customer to remind them regarding their renewal.

Note that this is different from recurring income that might still need your involvement to earn the income. By way of example, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch every Monday into the local school board has recurring income, but it comes in recurring work which restricts on your earning capacity based on your own personal production ability. .

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

An e-book writer selling her e-book through associates 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 her response done by subcontractors.Franchising your business model to 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 off of other people's labor, rather than mainly your own. Note that leveraged income might or might not also be residual income. When you combine them, that is even better.

This sort of income requires your direct participation, but you can earn more money by having more people involved. This generally involves a one-time event, such click for source as:

Though these need your immediate participation, your earning potential is much 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 pay for your facility cost, promotional cost, and staffing fees 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 that you are aware of the concept of passive income or residual income. Most likely, you have been searching the Internet for the best passive residual income ideas.

You may have thought of creating one or a number of streams of passive income to live a comfortable life or make superior savings. Whatever is your goal or the reason but you have not been really very powerful so far at creating a normal supply of passive income. The reason might be that you do not think it is true.

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Whatever is the actual reason in the background, the fantastic news is that this blog gives you a few practical and well tried ways for generating passive 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 have decided to work on them, then you certainly should not be any looking back.

It's quite possible if you are consistent and persistent then over a period of time you may 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 website which has great readership of regular since new readers can provide access 2 more than one source of passive income.