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If you want to earn more, work less, and have a comfortable retirement, it's important to start creating passive income streams. Whether you are just starting your business, or you have been running it some time, the sooner you get started thinking about how you're going to change your business design 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 that, while not passive, nevertheless is an integral 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 clients when they reorder product every month.An aerobics instructor who creates a video and sells it in the gym at which she teaches.A marketing consultant who creates a workbook and sells it all in e-book arrangement on the Internet.A photographer who makes 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 over a huge array of businesses. It may be recurring income from the same customers or the sales of a product to new customers. It may require no personal involvement whatsoever, such as an e-book sold on a website, 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 the income. By way of example, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday into 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 frees the work of different people to make income for you. Some examples of leveraged income include:

An e-book author selling her e-book through associates that promote the product.A network marketer that 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 job done by subcontractors.Franchising your business model to other entrepreneurs (the ultimate leveraged income). .

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Again, there are many different versions in many different businesses. The key is that you're making money from other people's labor, rather than primarily your own. Note that leveraged income may or may not also be residual income. When you combine them, that is even better.

This sort of income requires your immediate participation, but you can make more money by having more people involved. This generally involves a one-time event, such as:

Although these need your direct participation, your earning potential is a lot higher than if someone was just paying you a direct hourly rate. Fill a room with 1,000 people 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 sure you are conscious of the concept of passive income or residual income. Most probably, you have 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 good savings. Whatever is the goal or the reason but you have not been really very powerful so far at creating a normal 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 good news is that this site provides you a few practical and well tried ways for 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 opted to work on them, then you certainly should not be any looking back.

It is quite possible if you are consistent and persistent then over a time period pop over to this web-site you may build a substantial residual income. Dont be surprised is that this passive income amount exceeds your main income from your regular occupation or business.

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This is maybe one of the most recommended methods of earning a passive income. Having a website which has great readership of routine as new subscribers can provide access 2 more than one source of passive income.