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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're just starting your business, or you have been running it a while, the sooner you get started thinking about how you're going to change your business design to create more passive income, the sooner you can achieve personal and financial freedom. .

There are two basic types of passive income and also a third type of income which, although not passive, nevertheless is an integral 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 guide clients when they reorder merchandise every month.An aerobics instructor who produces a video and sells it in the gyms where she teaches.A marketing consultant who produces a workbook and sells it all in e-book arrangement on the Internet.A photographer who makes his photos available via a stock photography clearinghouse and gets 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 variety of businesses. It may be recurring income by the same customers or the sales of a product to new customers. It may require no personal involvement in any respect, like an e-book offered on a web site, or it can need some personal interaction, such as the insurance agent calling the customer to remind them about their renewal.

Note that this is different from recurring income which may still need your involvement to earn your income. For instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch each Monday to the local school board has recurring income, however it comes in recurring work which limits on your earning ability based on your own personal production ability. .

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This leverages the work of different folks to make income for you. A Few Examples of leveraged income include:

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

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Again, over at this website there are many different versions in many different businesses. The key is that you're making money from other people's labour, 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 sort of income requires your immediate participation, but you can earn more click to find out 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 higher than if someone was paying you an immediate hourly rate. Fill in a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional cost, 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 confident 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 ideas.

You may have thought of creating one or a number of streams of passive income to live a comfortable life or create superior savings. Whatever is your goal or the reason but you have not been really very powerful so far at creating a normal supply of passive income. The reason could be that you do not think it is true.

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Whatever is the actual 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 notions have worked for many others and can work for you too. Choose one or 2 or more which suit your interest, experience and background. Once you have decided to work on them, then there should not be any looking back.

It's quite possible if you are consistent and persistent then over a period of time you may build a substantial residual income. Read Full Report Dont be surprised is that this passive income amount exceeds your main income from your regular occupation or business.

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