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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 flows. Whether you are just starting your business, or you've been running it some time, the sooner you get started thinking about how you are 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, while not passive, nevertheless is an integral approach for earning more and working less.

An insurance agent who receives a commission every year when a client renews his policy.A network marketing or direct sales rep's income from her direct customers when they reorder product every month.An aerobics instructor that creates a movie and sells it at the gyms where she's teaches.A marketing consultant who produces a workbook and sells it all in e-book format on the Internet.A photographer who earns his photographs available through a stock photography clearinghouse and gets 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 customers. It could necessitate no personal involvement whatsoever, such as an e-book offered on a website, or it can require some personal interaction, such as the insurance agent calling the client to remind them about their renewal.

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

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

An e-book writer selling her e-book through associates who promote the product.A network marketer who 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 work done by subcontractors.Franchising your business model to other entrepreneurs (the supreme leveraged income). .

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Again, there are many different models in many different businesses. The key is that you're making money off of other people's labor, rather than mainly your own. Note that leveraged income may or may not be residual income. When you combine them, that's more helpful hints 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, view it now for example:

Although these require your direct participation, your earning potential is a lot higher than if someone was paying you a direct hourly fee. Fill in a room with 1,000 people paying $50 each and you can pay for your facility price, promotional cost, and staffing fees and still have a nice chunk of change left over. .

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If you're in the Internet business, then I am sure you are conscious of the concept of passive income or residual income. Most likely, you've been searching the Internet for the best passive residual income ideas.

You may have thought of creating one or a number of streams of passive income to live a comfortable life or make superior savings. Whatever is your aim or the reason but you have not been really very powerful so far at creating a normal supply of passive income. The reason could 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 blog gives you a few practical and well tried ways 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 match your interest, experience and background. Once you have opted to work on these, then there should not be any looking back.

It is quite possible if you are consistent and persistent then within 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 occupation 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 great readership of routine since new readers can give access two more than one source of passive income.