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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've been running it a while, the sooner you get started thinking about how you're going to shift your business model 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, still is an integral approach 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 direct customers when they reorder product every month.An aerobics instructor who produces 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 strategies to generate residual income across a huge variety of businesses. It might be recurring income from the very same customers or the sales of a product to new customers. It may necessitate no personal involvement in any respect, like an e-book offered on a web site, or it can require some personal interaction, such as the insurance agent calling the customer to remind them regarding their renewal.

Note that this is different from recurring income which may still require your involvement to earn the income. For example, a coach or consultant on a monthly retainer, or a caterer who delivers lunch each Monday into the local school board has recurring income, but it comes from recurring work that restricts on your earning ability based on your own personal production ability. .

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This leverages the work of different people to make income for you. Some examples of leveraged income include:

An e-book writer selling her e-book through associates that promote the product.A network marketer that builds 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 into informative post 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 might or might not be residual income. When you combine them, that is 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, for example:

Although these require your immediate participation, your earning potential is much greater than when someone was 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 still have a nice chunk of change left over. .

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If you are in the Internet business, then I am confident you are aware of the concept of passive income or residual income. Most likely, you've been searching the Internet for the best passive residual income thoughts.

You may have thought of creating one or a number of streams of passive income to live a comfortable life or create superior savings. Whatever is the aim or the reason but you have not been really quite powerful so far at creating a regular supply 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 fantastic news is that this blog provides you a few practical and well tried methods for generating passive residual income.

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

It's fairly possible if you're consistent and persistent then within 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 maybe one of the most recommended methods of earning a passive income. Having a blog which has great readership of regular as new readers can give access 2 more than one source of passive income.