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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 start thinking about how you're going to change your business design to create more passive income, the sooner you can achieve personal and financial freedom. .

There are two basic types of passive income and also a third type of income which, although not passive, nevertheless is an integral strategy 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 creates a movie and sells it in 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 through a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his pictures. .

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There are many different ways to generate residual income over a huge variety of businesses. It might be recurring income from the very same clients or the earnings of a product to new customers. It may necessitate no personal involvement in any respect, such as an e-book sold on a website, or it may need some personal interaction, such as the insurance agent calling the client to remind them about their renewal.

Note that this is different from recurring income which may still require your involvement to earn the income. By way of example, a mentor 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 limits on your earning ability based on your own personal production capacity. .

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This frees the work of different folks to make 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 that 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 are making money from other people's labour, 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 official website money by having more people involved. This generally involves a one-time event, such as:

Though these need your direct participation, your earning potential is much greater than when someone was paying you a direct hourly rate. Fill in a room with 1,000 individuals paying $50 each and you can pay for your facility price, promotional price, and staffing fees and have a nice chunk of change left over. .

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

You may 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 very successful so far at creating a normal source 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 good news is that this site gives you a few practical and well tried ways of generating passive residual income.

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

It's fairly possible if you're consistent and persistent then over a period of time 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 perhaps one of the most recommended ways of earning a passive income. Having a website which has great readership of routine as new subscribers can provide access 2 more than one source of passive income.