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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've been running it some time, the sooner you get started thinking about how you're going to shift your business design to create more passive income, the sooner you can attain personal and financial freedom. .

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

An insurance agent who receives a commission annually when a customer renews his policy.A network marketing or direct sales rep's income from her guide clients when they reorder merchandise every month.An aerobics instructor that produces a movie and sells it in the gym at which she teaches.A marketing consultant who produces 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 strategies to generate residual income over a huge array of businesses. It may be recurring income from the same customers or the sales of a product to new customers. It could require no personal involvement in any respect, like an e-book offered on a web site, or it can need 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 require your involvement to earn the income. For example, a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to the local school board has recurring income, however it comes from recurring work that limits on your earning capacity based on your own personal production capacity. .

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This frees the work of different people to create income for you. A Few Examples of leveraged income include:

An e-book author selling her e-book through associates who promote the product.A network marketer who 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 ultimate leveraged income). .

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Again, there are many different versions in many different businesses. The key is that you're making money from other people's labour, rather than primarily your own. Note that leveraged income may or may 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 greater than if someone was just 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 sure you are conscious of the concept of passive income or residual income. Most likely, you've already been searching the Internet for the best passive residual income ideas.

You might have thought about creating one or several streams of passive income to live a comfortable life or make superior savings. Whatever is the goal or the reason but you have not been really quite powerful so far at creating a normal 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 gives you a few practical and well tried ways for generating passive residual income.

These ideas have worked for others and can work for you too. Pick one or 2 or more which suit your interest, experience and background. Once you have opted to work on these, then there should not be any looking back.

It is fairly possible if you are consistent and persistent then over a time period you will 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 maybe one of the most recommended methods of earning a passive income. Having a website that has good readership of routine since new readers can provide access two more than one source of passive income.