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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 start thinking about how you're going to change 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 type of income which, although not passive, nevertheless is an integral strategy for earning more and working less.

An insurance agent who gets a commission every year when a customer renews his policy.A network marketing or direct sales rep's income from her guide customers when they reorder product every month.An aerobics instructor who produces a video and sells it in the gyms where she teaches.A marketing consultant who creates a workbook and sells it all in e-book arrangement on the Internet.A photographer who earns his photographs available through a stock photography clearinghouse and gets paid a royalty whenever someone buys one of his pictures. .

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There are many different strategies to generate residual income across a wide array of businesses. It may be recurring income by the very same clients or the earnings of a product to new customers. It may necessitate no personal involvement whatsoever, like an e-book offered on a web site, 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 that might still need your involvement to earn your income. For example, a coach or consultant on a monthly retainer, or a secretary who delivers lunch every Monday into the local school board has recurring income, however it comes from recurring work which restricts on your earning ability based on your own personal production ability. .

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This frees the YOURURL.com work of different folks to create income for you. Some examples of leveraged income include:

An e-book author selling her e-book through affiliates 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 models 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 is even better.

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

Though these require your direct participation, your earning potential is much greater than if someone was paying you an immediate hourly rate. Fill a room with 1,000 individuals paying $50 each and you can pay for 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 probably, you have been searching the Internet for the best passive residual income thoughts.

You may have thought about creating one or several 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 source of passive income. The reason might be that you do not believe it's true.

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Whatever is the actual reason in the background, the good news is that this blog gives 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 too. Choose one or 2 or more which suit your interest, experience and background. Once you have opted to work on them, then there should not be any looking back.

It's quite possible if you're consistent and persistent then within a time period you will build a 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 routine as new subscribers can give access two more than one source of passive income.