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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 have been running it a while, the sooner you get started thinking about how you're going to shift your business design 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, while not passive, still is an integral approach 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 direct clients when they reorder product every month.An aerobics instructor that creates a movie and sells it in the gyms where she teaches.A marketing consultant who produces a workbook and sells it all in e-book arrangement on the Internet.A photographer who earns his photographs available via a stock photography clearinghouse and has paid a royalty whenever someone buys one of his images. .

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There are many different strategies to generate residual income across a huge array of businesses. It may be recurring income from the very same clients or the earnings of a product to new clients. It could necessitate no personal involvement whatsoever, such as an e-book offered on a website, or it can 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 the income. By way of 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, 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 other people to create income for you. Some examples of leveraged income include:

An e-book author selling her e-book through associates 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 supreme leveraged income). .

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Again, there are many different models in many different businesses. The key is that you're making money from other people's labour, 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 direct participation, but you can earn more money by having more people Get the facts involved. This generally involves a one-time event, such as:

Although these need your immediate participation, your earning potential is a lot higher than when someone was paying you an immediate hourly rate. Fill in a room with 1,000 people paying $50 each and you can cover your facility price, promotional cost, and 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 aware of the concept of passive income or residual income. Most probably, you have been searching the Internet for best passive residual income ideas.

You may have thought about creating one or a number of streams of passive income to live a comfortable life or make good savings. Whatever is your aim or the reason website here but you have not been really very successful so far at creating a regular source of passive income. The reason might be that you do not think it's true.

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Whatever is the actual reason in the background, the good news is that this site gives you a few practical and well tried ways of generating passive residual income.

These ideas have worked for others and can work for you also. Pick one or 2 or more which suit your interest, experience and background. Once you have opted to work on these, then you certainly 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 job or business.

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This is perhaps one of the most recommended methods of earning a passive income. Having a blog that has good readership of regular as new readers can provide access two more than one source of passive income.