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If you want to earn more, work less, and have a comfortable retirement, it is important to start creating passive income streams. Whether you are 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 design 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 which, although not passive, nevertheless is a key approach for earning more and working less.

An insurance agent who receives 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 who produces a video and sells it in 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 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 wide variety of businesses. It might be recurring income from the same clients or the earnings of a product to new clients. It could necessitate no personal involvement whatsoever, like an e-book offered on a web site, or it may 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 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 from recurring work which restricts on your earning capacity based on your own personal production capacity. .

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This leverages the work of other people to make income for you. A Few Examples of leveraged income include:

An e-book writer selling her e-book through affiliates that promote the product.A network marketer that builds 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 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'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 direct participation, your earning potential is a lot higher than if someone was paying you an immediate hourly fee. Fill in 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're in the Internet business, then I am confident that you are conscious of the concept of passive income or residual income. Most likely, you've already been searching the Internet for best passive residual income thoughts.

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

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Whatever is the actual reason in the background, the good news is that this site gives you a few practical and well tried methods of 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 have opted to work on these, then there should not be any looking back.

It's fairly possible if you are consistent and persistent then over a period of time you may 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 methods of earning a passive income. Having a website which has good readership of routine as new subscribers can provide access two more than one source of passive income.