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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 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 a third sort of income that, while not passive, nevertheless is a key strategy for earning more and working less.

An insurance agent who gets a commission annually when a customer renews his policy.A network marketing or direct sales rep's income from her direct clients when they reorder product 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 earns his photos available via a stock photography clearinghouse and has paid a royalty whenever someone purchases one of his images. .

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There are many different strategies to generate residual income across a wide array of businesses. It may be recurring income from the very same clients or the earnings of a product to new clients. It may necessitate no personal involvement in any respect, like an e-book offered on a web site, or it can require 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. For instance, a coach or consultant on a monthly retainer, or a caterer who delivers lunch each Monday into the local school board has recurring income, but it comes in 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 people to create 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 generated 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 ultimate leveraged income). .

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Again, there are many different models in many different businesses. The key is that you're making money from other people's labour, 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 type 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 direct participation, your earning potential is a lot greater than if someone was paying you a direct hourly rate. Fill a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional price, and staffing prices and still have a nice chunk of change left over. .

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If you are in the Internet business, then I am sure that you are aware of the concept of passive income or residual income. Most probably, you have been searching the Internet for best passive residual income thoughts.

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

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Whatever is the real 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 ideas have worked for many others and can work for you also. Choose one or 2 or more which match your interest, experience and background. Once you have opted to work on these, then there should not be any looking back.

It is fairly possible if you're 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 job or business.

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This is maybe one of the most recommended methods of earning a passive income. Having a blog that has great readership of routine as new readers can give access two more than one source of passive income.

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