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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 are just starting your business, or you've been running it a while, the sooner you start thinking about how you are going to change your business model 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 sort of income which, although not passive, still is a key strategy 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 clients when they reorder merchandise every month.An aerobics instructor that creates a movie and sells it at 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 photographs 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 wide variety of businesses. It might be recurring income by the same clients or the earnings of a product to new clients. It may require no personal involvement whatsoever, 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 require your involvement to earn your income. By way of 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 restricts on your earning ability based on your own personal production capacity. .

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This frees the work of different folks to create income for you. Some examples of leveraged income include:

An e-book author selling her like it e-book through associates that promote the product.A network marketer who builds 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, there are many different versions in many different businesses. The key is that you are making money from other people's labor, rather than mainly your own. Note that leveraged income may or may not be residual income. When you combine them, that's even better.

This sort of income requires your direct participation, but you can earn more money by having more people involved. This generally involves a one-time event, for example:

Although these require your immediate participation, your earning potential is much higher than when someone was just paying you an immediate hourly rate. Fill in a room with 1,000 individuals paying $50 each and you can pay for your facility cost, 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 confident you are aware of the concept of passive income or residual income. Most likely, 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 good savings. Whatever is your goal or the reason but you have not been really very powerful so far at creating a regular source of passive income. The reason might be that you do not believe 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 methods for generating passive residual income.

These notions have worked for others and can work for you too. Pick one or 2 or more which match your interest, experience and background. Once you have decided to work on them, then there should not be any looking back.

It is fairly possible if you're consistent and persistent then within a period of time you may 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 perhaps one of the most recommended methods of earning a passive income. Having a website which has good readership of routine as new subscribers can provide access two more than one source of passive income.