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If you want to earn more, work less, and have a comfortable retirement, it is important to begin creating passive income streams. Whether you are just starting your business, or you have been running it some time, the sooner you start thinking about how you're going to shift 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 a third type of income which, although not passive, still is a key strategy for earning more and working less.

An insurance agent who gets a commission annually when a client renews his policy.A network marketing or direct sales rep's income from her direct customers when they reorder merchandise every month.An aerobics instructor that produces a video and sells it in the gyms where she's teaches.A marketing consultant who produces a workbook and sells it all in e-book format 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 pictures. .

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There are many different ways to generate residual income over a wide variety of businesses. It might be recurring income by the very same clients or the sales 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, like 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 the income. For instance, a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday into the local school board has recurring income, however it comes from recurring work which limits on your earning capacity based on your own personal production ability. .

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This leverages the work of different people to make income for you. Some examples of leveraged income include:

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An e-book writer selling her e-book through affiliates who promote the product.A network marketer who 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 job you could look here done by subcontractors.Franchising your business model to 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 are making money off of other people's labour, rather than mainly your own. Note that leveraged income might or might not 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, for example:

Though these require your direct participation, your earning potential is much greater than when someone was just paying you a direct hourly rate. Fill in a room with 1,000 people paying $50 each and you can pay for 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 probably, you've already been searching the Internet for the best passive residual income thoughts.

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You official website might have thought of creating one or a number of streams of passive income to live a comfortable life or make superior savings. Whatever is your goal or the reason but you have not been really very successful so far at creating a regular supply 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 others and can work for you also. Pick one or two or more which match your interest, experience and background. Once you have opted to work on them, then there should not be any looking back.

It's quite possible if you're consistent and persistent then over a time period you may 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 maybe one of the most recommended methods of earning a passive income. Having a blog which has great readership of routine since new readers can give access two more than one source of passive income.

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