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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 are just starting your business, or you have been running it some time, the sooner you start thinking about how you are going to shift your business design to create more passive income, the sooner you can attain personal and financial freedom. .

There are two main kinds of passive income and a third type of income which, although not passive, still is a key 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 guide customers when they reorder merchandise every month.An aerobics instructor that creates 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 gets paid a royalty whenever someone purchases one of his pictures. .

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There are many different ways to generate residual income across a huge variety of businesses. It might be recurring income from the very same clients or the earnings of a product to new customers. It may require no personal involvement in any respect, such as an e-book offered on a website, or it may need some personal interaction, such as the insurance agent calling the customer to remind them regarding their renewal.

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

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This leverages the see page work of different folks to create income for you. Some examples of leveraged income include:

An e-book writer selling her e-book through affiliates that 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 job done by subcontractors.Franchising your business model to 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 primarily your own. Note that leveraged income may or may not be residual income. When you combine them, that's even better.

This type 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:

Though these need your direct participation, your earning potential is a lot greater than if someone was just paying you a direct hourly rate. Fill 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're 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 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 is your aim or the reason but you have not been really very powerful so far at creating a regular supply of passive income. The reason could 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 site gives you a few practical and well tried methods of generating passive residual income.

These notions have worked for others and can work for you also. Pick one or two 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 fairly possible if you're consistent and persistent then over a time period you will 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 which has great readership of regular as new readers can give access 2 more than one source of passive income.