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If you want to earn more, work less, and have a comfortable retirement, it is important to begin creating passive income streams. Whether you're just starting your business, or you've been running it some time, the sooner you start thinking about how you are going to shift your business model to create more passive income, the sooner you can attain personal and financial freedom. .

There are two main kinds of passive income and also a third sort of income that, while not passive, still is an integral strategy for earning more and working less.

An insurance agent who gets a commission annually when a client renews his policy.A network marketing or direct sales rep's income from her guide customers when they reorder merchandise every month.An aerobics instructor that creates a movie and sells it at the gym at which she teaches.A marketing consultant who produces a workbook and sells it in e-book format on the Internet.A photographer who makes his photos 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 strategies to generate residual income over a wide array of businesses. It might be recurring income from the same customers or the earnings of a product to new customers. It could require no personal involvement in any respect, such as an e-book offered on a web site, or it may require some personal interaction, like 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 the income. For instance, 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 which limits on your earning ability based on your own personal production ability. .

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

An e-book writer selling her check my blog e-book through affiliates that promote the product.A network marketer who assembles 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 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 labor, rather than primarily your own. Note that leveraged income may or may not be residual income. When you combine them, that's even better.

This type 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 need your immediate participation, your earning potential is much higher than when someone was just paying you a direct hourly fee. Fill a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional price, and staffing prices and have a nice chunk of change left over. .

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If you're in the Internet business, then I am confident that you are aware of the concept of passive income or residual income. Most likely, 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 create 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 fantastic news is that this site gives you a few practical and well tried ways of generating passive residual income.

These ideas have worked for many 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 there should not be any looking back.

It is quite possible if you are consistent and persistent then over a time period you may build a substantial residual income. Dont be surprised is that 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 website which has great readership of regular as new subscribers can give access two more than one source of passive income.