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If you want to earn more, work less, and have a comfortable retirement, it's 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 start 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 basic types of passive income and also a third sort of income that, while not passive, still is a key approach 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 creates a movie and sells it at the gym at which she's teaches.A marketing consultant who creates a workbook and sells it in e-book format on the Internet.A photographer who earns his photos available through a stock photography clearinghouse and has paid a royalty whenever someone buys one of his pictures. .

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There are many different ways to generate residual income over a huge array of businesses. It may be recurring income from the same clients or the earnings of a product to new clients. It may necessitate no personal involvement in any respect, such as an e-book sold 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 which may still require your involvement to earn your income. By way of instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch each Monday to the local school board has recurring income, but it comes from recurring work which limits on your earning capacity based on your own personal production ability. .

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

An e-book author selling her e-book through affiliates who 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 work done by subcontractors.Franchising your business model into 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 are 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 make more money by having more people involved. This generally involves a one-time event, such as:

Although these require your immediate participation, your earning potential is a lot higher than if someone was paying you an immediate hourly fee. Fill a room with 1,000 individuals 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 are in the Internet business, then I am confident 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 might have thought of creating one or several streams of passive income to live a comfortable life or make good 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 could be that you do not think it is true.

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Whatever is the real reason in the background, the fantastic news is that this blog provides you a few practical and well tried methods of generating passive residual income.

These notions have worked for others and can work for you also. Pick one or 2 or more which match your interest, experience and background. Once you've opted to work on these, then you certainly should not be any looking back.

It is quite possible if you are consistent and persistent then within a time period you may build a this post substantial residual income. Dont be surprised is that this passive income amount exceeds your main income from your regular job or business.

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This is maybe one of the most recommended methods of earning a passive income. Having a blog that has great readership of regular as new subscribers can provide access 2 more than one source of passive income.