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If you want to earn more, work less, and have a comfortable retirement, it is important to start creating passive income streams. Whether you are just starting your business, or you have been running it a while, the sooner you start thinking about how you are going to change your business design 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 type of income that, although not passive, nevertheless is a key strategy for earning more and working less.

An insurance agent who receives a commission annually when a customer renews his policy.A network marketing or direct sales rep's income from her direct clients when they reorder merchandise every month.An aerobics instructor that produces a video and sells it at the gyms where she teaches.A marketing consultant who produces a workbook and sells it in e-book format 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 over a wide array of businesses. It might be recurring income by the same customers or the earnings of a product to new clients. It may necessitate no personal involvement whatsoever, such as an e-book offered on a web site, or it can require some personal interaction, like 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. By way of example, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday to the local school board has recurring income, however 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 folks to make income for you. Some examples of leveraged income include:

An e-book writer selling her e-book internet through associates who promote the product.A network marketer that assembles a downline and receives commissions on the sales generated 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 models 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 sort 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:

Although these need your direct participation, your earning potential is a lot greater than if someone was paying you an immediate 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 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 likely, you have been searching the Internet for best passive residual income ideas.

You might have thought about creating one or a number of streams of passive income to live a comfortable life or create good savings. Whatever is your goal or the reason but you have not been really quite successful so far at creating a regular source of passive income. The reason could be that you do not think it is 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 ways for generating passive residual income.

These ideas have worked for others and can work for you too. Choose one or two or more which match your interest, experience and background. Once you've opted to work on these, then you certainly should not be any looking back.

It is fairly possible if you are consistent and persistent then within a time period 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 maybe one of the most recommended methods of earning a passive income. Having a website which has great readership of regular since new subscribers can give access 2 more than one source of passive income.