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If you want to earn more, work less, and have a comfortable retirement, it is important to start creating passive income streams. Whether you're just starting your business, or you have been running it some time, the sooner you get started thinking about how you are 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, while not passive, nevertheless is an integral approach for earning more and working less.

An insurance agent who gets 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 that produces a video and sells it in the gyms where she's teaches.A marketing consultant who creates a workbook and sells it in e-book arrangement on the Internet.A photographer who earns his photographs available via 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 array of businesses. It may be recurring income by the very same customers or the earnings of a product to new clients. It could necessitate no personal involvement whatsoever, like an e-book offered on a website, or it may need some personal interaction, such as the insurance agent calling the client to remind them regarding their renewal.

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

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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 author selling her e-book through affiliates that promote the product.A network marketer that 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're making money off of other people's labor, rather than primarily 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 immediate participation, but you can earn more money by having more people involved. This generally involves a one-time event, such as:

Though these need your immediate participation, your earning potential is sites a lot greater than when someone was just paying you a direct hourly fee. Fill in a room with 1,000 individuals paying $50 each and you can pay for your facility cost, promotional cost, and staffing fees and have a nice chunk of change left over. .

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If you are in the Internet business, then I am confident that you are aware of the concept of passive income or residual income. Most likely, 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 make good savings. Whatever is the aim or the reason but you have not been really quite successful so far at creating a regular supply of passive income. The reason might be that you do not believe it's true.

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

These ideas have worked for others and can work for you too. Choose one or 2 or more which match your interest, experience and background. Once you've 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 my site you may build a substantial residual income. Dont be surprised is 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 ways of earning a passive income. Having a website that has good readership of regular as new readers can provide access 2 more than one source of passive income.

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