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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 flows. Whether you are just starting your business, or you have been running it some time, the sooner you start 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 which, while not passive, nevertheless is an integral approach 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 product every month.An aerobics instructor that produces a movie and sells it in the gym at which she 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 via a stock photography clearinghouse and has paid a royalty whenever someone purchases one of his pictures. .

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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 same clients or the earnings of a product to new customers. It may require no personal involvement whatsoever, such as an e-book sold on a website, or it may require 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 the income. For example, a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday into the local school board has recurring income, but it comes in recurring work that 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. A Few Examples of leveraged income include:

An e-book writer selling her e-book through associates 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 job done by subcontractors.Franchising your business model to other entrepreneurs (the supreme leveraged income). .

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Again, there are many different click to find out more models in many different businesses. The key is that you're making money off of 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's even better.

This type of income requires your direct participation, but you can make more money by having more people involved. This generally involves a one-time event, such as:

Though these require your direct participation, your earning potential is much higher than if someone was just paying you a direct hourly rate. Fill 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're in the Internet business, then I am sure you are conscious of the concept of passive income or residual income. Most likely, you have already been searching the Internet for best passive residual income thoughts.

You might have check my blog thought about 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 very powerful so far at creating a normal 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 for generating passive residual income.

These notions have worked for others and can work for you also. Pick one or two or more which suit your interest, experience and background. Once you've opted to work on these, then there should not be any looking back.

It is quite possible if you're 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 methods of earning a passive income. Having a website that has good readership of regular as new readers can give access two more than one source of passive income.