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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 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 attain personal and financial freedom. .

There are two basic types of passive income and a third type of income which, while not passive, nevertheless is an integral 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 that creates a video and sells it in the gym at which she's 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 through a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his images. .

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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 sales of a product to new customers. It could necessitate no personal involvement whatsoever, 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 regarding their renewal.

Note that this is different from recurring income which may still require your involvement to earn the income. By way of instance, a coach or consultant on a monthly retainer, or a secretary who delivers lunch each Monday into the local school board has recurring income, but it comes from recurring work which limits on your earning ability based on your own personal production ability. .

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

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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 made by people in his downline.A general contractor who makes a profit margin on the work 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 labor, 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 immediate participation, but you can earn more money by having more people involved. This generally involves a one-time event, such as:

Though these require your direct participation, your earning potential is a lot higher than if someone was just paying you a direct hourly fee. Fill a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional price, and find out here 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 conscious of the concept of passive income or residual income. Most likely, you have already been searching the Internet for best passive residual income thoughts.

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You may have thought of creating one or several streams of passive income to live a comfortable life or make superior savings. Whatever is your aim or the reason but you have not been really very powerful so far at creating a regular supply of passive income. The reason could be that you do not believe it's 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 for 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 work on these, then there should not be any looking back.

It's fairly possible if you are consistent and persistent then within 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 maybe one of the most recommended methods of earning a passive income. Having a blog that has good readership of routine as new subscribers can provide access 2 more than one source of passive income.

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