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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 have been running it a while, 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 that, while not passive, still is an integral approach 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 direct clients when they reorder merchandise every month.An aerobics instructor who creates a movie and sells it in 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 makes his photographs 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 variety of businesses. It may be recurring income by the very same clients or the earnings of a product to new customers. It could require no personal involvement whatsoever, such as an e-book offered on a web site, or it may need some personal interaction, such as the insurance agent calling the customer to remind them regarding their renewal.

Note that this is different from recurring income which may still require your involvement to earn your 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 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. A Few Examples of leveraged income include:

An e-book writer selling her e-book through affiliates who promote the product.A network marketer who 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 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 off of other people's labor, rather than mainly your own. Note that leveraged income may or may not also be residual income. When you combine them, that's 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, such as:

Though these need your direct participation, your earning potential is a lot greater than if someone was just paying you an immediate hourly fee. Fill a room with 1,000 individuals paying $50 each and you can cover your facility price, promotional price, and staffing prices 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 likely, you have been searching the Internet for the best passive residual income ideas.

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

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

These notions have worked for others and can work for you also. Choose one or two 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 quite possible if you are consistent and persistent then within a period of time you will build a substantial residual income. Dont be surprised is that 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 ways of earning a passive income. Having a blog which has good readership of routine as new readers official site can provide access two more than one source of passive income.