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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're just starting your business, or you've been running it a while, the sooner you get started thinking about how you're going to change your business model to create more passive income, the sooner you can achieve personal and financial freedom. .

There are two basic types of passive income and a third sort of income which, although not passive, nevertheless is a key approach for earning more and working less.

An insurance agent who gets a commission every year when a client 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 that creates a video and sells it in the gyms where she teaches.A marketing consultant who creates a workbook and sells it in e-book arrangement on the Internet.A photographer who earns his photos available via a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his pictures. .

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There are many different strategies to generate residual income across a huge variety of businesses. It may be recurring income by the very same clients or the sales of a product to new customers. It may require no personal involvement in any respect, such as an e-book sold 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 which may still require your involvement to earn the income. By way of 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 in recurring work that limits on your earning ability based on your own personal production ability. .

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This leverages the work of other people to create income for you. A Few 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 made by people in his downline.A general contractor who makes a profit margin on the job done by subcontractors.Franchising your business model to 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 mainly your own. Note that leveraged income might or might not also be residual income. When you combine them, that's even better.

This type of income requires your direct participation, but you can make 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 higher than if someone was just 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 prices and have a nice moved here 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 have already 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 make good savings. Whatever is the goal or the reason but you have not been really very powerful so far at creating a regular 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 provides you a few practical and well tried ways of generating passive residual income.

These ideas 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 decided to you could try this out work on them, then you certainly should not be any looking back.

It is fairly possible if you are 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 methods of earning a passive income. Having a website which has great readership of routine since new readers can provide access 2 more than one source of passive income.