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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 flows. Whether you're just starting your business, or you have been running it some time, the sooner you start thinking about how you're going to change your business model to create more passive income, the sooner you can attain personal and financial freedom. .

There are two basic types of passive income and also a third sort of income that, while not passive, still is a key strategy for earning more and working less.

An insurance agent who receives a commission annually when a client renews his policy.A network marketing or direct sales rep's income from her direct customers when they reorder merchandise every month.An aerobics instructor that produces a movie and sells it at the gym at which she's teaches.A marketing consultant who creates a workbook and sells it all in e-book format on the Internet.A photographer who makes his photos available via a stock photography clearinghouse and has paid a royalty whenever someone buys one of his images. .

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There are many different ways to generate residual income over a wide variety of businesses. It might be recurring income by the same clients or the sales of a product to new customers. It may require no personal involvement whatsoever, such as an e-book offered on a website, or it can need some personal interaction, such as the insurance agent calling the customer to remind them regarding their renewal.

Note that this is different from recurring income that might still require your involvement to earn the income. By way of example, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to the local school board has recurring income, however it comes in recurring work that limits on your earning capacity based on your own personal production capacity. .

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

An e-book author selling her e-book through affiliates who 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 work done by subcontractors.Franchising your business model into 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 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 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, for example:

Although these require your direct participation, your earning potential is a lot greater than when someone was just paying you a direct hourly fee. Fill a room with 1,000 individuals 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 confident that you are conscious of the useful link concept of passive income or residual income. Most probably, you've been searching the Internet for best passive residual income thoughts.

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 powerful so far at creating a regular source 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 fantastic news is that this site provides you a few practical and well tried methods for generating passive residual income.

These notions have worked for many others and can work for you too. Choose one or two or more which suit your interest, experience and background. Once you've opted to work on these, then you certainly should not be any looking back.

It's quite possible if you're consistent and persistent then within a period of time you will 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 maybe one of the most recommended methods of earning a passive income. Having a blog which has good readership of routine since new subscribers can give access two more than one source of passive income.