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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're just starting your business, or you have been running it a while, the sooner you start 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 sort of income that, while not passive, still is a key strategy for earning more and working less.

An insurance agent who gets a commission every year when a client renews his policy.A network marketing or direct sales rep's income from her direct clients when they reorder merchandise every month.An aerobics instructor that creates a movie and sells it in the gym at which she's teaches.A marketing consultant who produces a workbook and sells it in e-book arrangement on the Internet.A photographer who makes his photos available through a stock photography clearinghouse and has 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 array of businesses. It might be recurring income by the very same customers or the earnings of a product to new clients. It may require no personal involvement in any respect, like an e-book sold on a web site, 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 that might still require your involvement to earn the income. For example, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch every Monday into the local school board has recurring income, but it comes from 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 folks to make income for you. Some examples of leveraged income include:

An e-book author selling her e-book through associates 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 ultimate leveraged income). his explanation .

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Again, there are many different versions in many different businesses. The key is that you are 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 sort of income requires your direct participation, but you can make more money by having more people involved. This generally involves a one-time event, such as:

Although these require your immediate participation, your earning potential is a lot greater than if someone was just paying you an immediate hourly rate. Fill a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional price, and staffing fees and 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 have already been searching the Internet for best passive residual income thoughts.

You may have thought of creating one or several streams of passive income to live a comfortable life or make superior savings. Whatever is your aim or the Discover More Here 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 think it is true.

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

These ideas have worked for others and can work for you also. Choose one or two or more which match your interest, experience and background. Once you've 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 period of time you will build a substantial residual income. Dont be surprised is that 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 routine as new readers can give access 2 more than one source of passive income.