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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 some time, the sooner you get started thinking about how you are going to change your business design to create more passive income, the sooner you can achieve personal and financial freedom. .

There are two main kinds of passive income and a third type of income which, while not passive, nevertheless is a key strategy for earning more and working less.

An insurance agent who receives a commission every year when a customer renews his policy.A network marketing or direct sales rep's income from her guide clients when they reorder product every month.An aerobics instructor that produces a movie 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 makes 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 strategies to generate residual income over a huge array of businesses. It may be recurring income by the same clients or the earnings of a product to new clients. It could necessitate no personal involvement in any respect, such as an e-book offered on a website, or it may require some personal interaction, such as the insurance agent calling the client to remind them regarding their renewal.

Note that this is different from recurring income that might still require your involvement to earn your income. For example, a coach or consultant on a monthly retainer, or a secretary who delivers lunch each Monday into the local school board has recurring income, however it comes from recurring work that limits on your earning capacity based on your own personal production capacity. .

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This frees the 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 job done by subcontractors.Franchising your business model into 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're making money off of 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 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, for example:

Though these need your direct participation, your earning potential is a lot greater than when someone was paying you a direct hourly fee. Fill in a room with 1,000 people paying $50 each and you can cover your facility cost, promotional price, and staffing prices and still have a nice chunk of change left over. .

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If you're in the Internet business, then I am sure that you are conscious of the concept of passive income or residual income. Most probably, you have already been searching the Internet for the best passive residual income thoughts.

You may have thought of creating one or a number of 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 quite successful 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 real reason in the background, the good news is that this site gives you a few practical and well tried methods of generating passive residual income.

These notions 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 decided to work on these, then there should not be any looking back.

It's fairly possible if you're consistent and persistent then within a time period you will build a substantial residual income. Dont more 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 blog which has good readership of regular as new subscribers can provide access 2 more than one source of passive income.