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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 flows. Whether you're just starting your business, or you've been running it a while, 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 basic types of passive income and also a third type of income that, 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 who produces a video and sells it at the gym at which she's teaches.A marketing consultant who creates a workbook and sells it in e-book arrangement on the Internet.A photographer who makes his photos available through a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his images. .

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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 same clients or the earnings of a product to new clients. It could require no personal involvement whatsoever, such as an e-book offered on a website, 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 that might still need your involvement to earn your income. By way of example, a coach 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 in recurring work that restricts on your earning ability based on your own personal production capacity. .

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This frees the work of other folks to make income for you. Some examples of leveraged income include:

An e-book author selling her e-book through affiliates that promote the product.A network marketer that 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 work done by subcontractors.Franchising your business model into other entrepreneurs (the ultimate 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 labour, rather than mainly your own. Note that leveraged income may or may not also be residual income. When you combine them, that is 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:

Though these require your immediate participation, your earning potential is a lot higher than when someone was paying you a find more information direct hourly rate. Fill in a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional cost, and staffing prices and 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 aware of the concept of passive income or residual income. Most likely, you have already been searching the Internet for the best passive residual income thoughts.

You might have thought of creating one or several streams of passive income to live a comfortable life or create good savings. Whatever is the goal or the reason but you have not been really quite successful so far at creating a regular source of passive income. The reason could be that you do not believe it is true.

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Whatever is the real reason in the background, the fantastic news is that this blog provides you a few practical and well tried ways of generating passive residual income.

These ideas have worked for 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 them, then you certainly should not be any looking back.

It's fairly possible if you're 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 perhaps one of the most recommended methods of earning a passive income. Having a website which has great readership of regular since new subscribers can give access 2 more than one source of passive income.