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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 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, although not passive, still is an integral approach 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 customers when they reorder merchandise every month.An aerobics instructor that produces a movie and sells it at the gyms where she's teaches.A marketing consultant who creates a workbook and sells it in e-book format on the Internet.A photographer who makes his photographs available through a stock photography clearinghouse and has paid a royalty whenever someone purchases one of his images. .

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There are many different ways to generate residual income over a huge array of businesses. It might be recurring income from the very same customers or the sales of a product to new customers. It may require no personal involvement in any respect, like an e-book offered 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 that might still need your involvement to earn the income. For instance, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch each Monday to the local school board has recurring income, however it comes from 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 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 that assembles a downline and receives commissions on the view website 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 into 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 are 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 even better.

This sort 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 need your direct participation, your earning potential is a lot greater than if someone was just paying you an immediate hourly fee. Fill a room with 1,000 people paying $50 each and you can cover your facility cost, promotional cost, and staffing fees and still have a nice chunk of change left over. .

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If you are in the Internet business, then official statement I am confident that you are conscious of the concept of passive income or residual income. Most likely, you have been searching the Internet for best passive residual income ideas.

You might 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 reason but you have not been really quite successful so far at creating a regular supply 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 good news is that this blog provides you a few practical and well tried ways for generating passive residual income.

These ideas have worked for many others and can work for you too. Pick one or 2 or more which suit your interest, experience and background. Once you've decided to work on these, then there should not be any looking back.

It's quite possible if you are consistent and persistent then within a period of time you may 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 perhaps one of the most recommended methods of earning a passive income. Having a blog that has good readership of routine since new subscribers can give access 2 more than one source of passive income.