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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're just starting your business, or you've been running it some time, the sooner you start thinking about how you are going to change your business model to create more passive income, the sooner you can achieve 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 a key strategy for earning more and working less.

An insurance agent who gets a commission every year when a client 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 at the gyms where she's teaches.A marketing consultant who produces a workbook and sells it all in e-book arrangement on the Internet.A photographer who earns his photos available through a stock photography clearinghouse and has paid a royalty whenever someone buys 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 very same clients or the sales of a product to new customers. It could require no personal involvement whatsoever, like an e-book sold 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 which may still need your involvement to earn the income. By way of instance, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to the local school board has recurring income, however it comes in recurring work that limits on your earning capacity based on your own personal production ability. .

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This leverages the work of other folks to make 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 that 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 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 labour, 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 sort of income requires your direct participation, but you can earn more money by having more people involved. This generally involves a one-time event, for example:

Though these require your direct participation, your earning potential is a lot greater than when someone was paying you more helpful hints a direct hourly fee. Fill a room with 1,000 people paying $50 each and you can pay for your facility cost, 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 you are conscious of the concept of passive income or residual income. Most likely, you've been searching the Internet for best passive residual income ideas.

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 aim or the reason but you have not been really quite 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 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 many others and can work for you too. Pick one or 2 or more which suit your interest, experience and background. Once you have opted to work on them, then you certainly should not be any looking back.

It is fairly possible if you are consistent and persistent then over a period of time you will build a substantial residual income. Dont be surprised is this passive income amount exceeds your go to these guys main income from your regular occupation or business.

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This is perhaps one of the most recommended ways of earning a passive income. Having a blog that has great readership of routine as new readers can give access 2 more than one source of passive income.