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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 get started thinking about how you're going to shift 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 a third sort of income that, while not passive, nevertheless is a key 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 guide customers when they reorder merchandise every month.An aerobics instructor who produces a movie and sells it in the gyms where she teaches.A marketing consultant who creates a workbook and sells it 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 buys one of his pictures. .

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There are many different strategies to generate residual income over a huge variety of businesses. It may be recurring income from the same customers or the sales of a product to new clients. It may necessitate no personal involvement whatsoever, like an e-book sold on a website, or it can require some personal interaction, such as the insurance agent calling the client to remind them about their renewal.

Note that this is different from recurring income which may still require your involvement to earn the income. For example, a mentor 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 in recurring work which restricts on your earning ability based on your own personal production ability. .

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This frees the work of other people to make income for you. A Few 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 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're making money from other people's labour, rather than primarily your own. Note that leveraged income might or might not be residual income. When you combine them, that is 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, for example:

Though these require your direct participation, your earning potential is a lot higher than if someone was just paying you a direct hourly rate. Fill in a room with 1,000 individuals paying $50 each and this page 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 confident you are aware of the concept of passive income or residual income. Most probably, you have already been searching the Internet for the best passive residual income ideas.

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

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Whatever is the actual reason in the background, the good news is that this site gives you website here a few practical and well tried methods of generating passive residual income.

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

It's fairly possible if you are consistent and persistent then over a time period you will build a substantial residual income. Dont be surprised is 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 website which has good readership of routine since new subscribers can give access two more than one source of passive income.

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