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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 have been running it a while, the sooner you start 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 basic types of passive income and also a third type of income which, while not passive, still 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 clients when they reorder merchandise every month.An aerobics instructor that produces a movie and sells it at the gym at which she teaches.A marketing consultant who produces 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 wide variety of businesses. It may be recurring income from the very same clients or the sales of a product to new clients. It could require no personal involvement whatsoever, such as an e-book sold on a web site, or it may require some personal interaction, like the insurance agent calling the customer to remind them regarding their renewal.

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

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This leverages the work of other folks to make income for you. Some examples of leveraged income include:

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An e-book writer selling her e-book through affiliates that promote the product.A network marketer who assembles 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 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 might or might not also be residual income. When you combine them, that is even better.

This type 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 much greater than if someone was just paying you a direct hourly fee. Fill a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional price, 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 sure that you are conscious of the concept of passive income or residual income. Most probably, you've already been searching the Internet for best passive residual income ideas.

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

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Whatever is the real reason in the background, the fantastic news is that this blog gives you a few practical and well tried ways for visit the website generating passive residual income.

These ideas 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 these, then there should not be any looking back.

It's fairly possible if you're consistent and persistent then over 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 ways of earning a passive income. Having a blog that has great readership of routine since new readers can give access 2 more than one source of passive income.

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