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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 some time, the sooner you start thinking about how you're going to shift your business model to create more passive income, the sooner you can attain personal and financial freedom. .

There are two main kinds of passive income and also a third sort of income which, while not passive, nevertheless is an integral strategy for earning more and working less.

An insurance agent who gets a commission every year 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 gyms where she teaches.A marketing consultant who creates 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 buys one of his images. .

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There are many different ways to generate residual income across a huge array of businesses. It may be recurring income by the very same customers or the sales of a product to new clients. It may require no personal involvement whatsoever, such as an e-book offered on a website, or it may require some personal interaction, like the insurance agent calling the client to remind them regarding their renewal.

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

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This frees the work of different folks to create income for you. A Few Examples of leveraged income include:

An e-book author 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 job done by subcontractors.Franchising your business model into other entrepreneurs (the supreme leveraged income). .

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

This type of the original source 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:

Though these require your immediate participation, your earning potential is a lot greater than if someone was paying you an immediate hourly rate. Fill in a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional price, 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 confident you are aware of the concept of passive income or residual income. Most probably, you have already been searching the Internet for the best passive residual income ideas.

You may have thought of creating one or several streams of passive income to live a comfortable life or make superior savings. Whatever is the goal or the reason but you have not been really quite powerful 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 real reason in the background, the fantastic news is that this site provides you a few practical and well tried methods of generating passive residual income.

These ideas have worked for many others and can work for you also. Pick one or 2 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 is quite possible if you are consistent and persistent then over 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 occupation or business.

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This is maybe one of the most recommended ways of earning a passive income. Having a website that has great readership of regular since useful content new subscribers can provide access two more than one source of passive income.