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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're going to change 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 strategy for earning more and working less.

An insurance agent who gets a commission annually when a customer renews his policy.A network marketing or direct sales rep's income from her guide 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 all in e-book format on the Internet.A photographer who earns his photos available via a stock photography clearinghouse and gets paid a royalty whenever someone buys one of his pictures. .

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There are many different ways to generate residual income across a wide variety of businesses. It might be recurring income by the same customers or the sales of a product to new customers. It may require no personal involvement in any respect, such as an e-book offered on a web site, or it can need some personal interaction, such as the insurance agent calling the client to remind them regarding their renewal.

Note that this is different from recurring income that might still require your involvement to earn your income. For instance, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch each Monday into the local school board has recurring income, however it comes in recurring work that limits on your earning ability based on your own personal production capacity. .

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This leverages the work of different folks to create 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 directory builds 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 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 from other people's labour, rather than primarily your own. Note that leveraged income may or may not also be residual income. When you combine them, that's even better.

This sort of income requires your immediate participation, but you can earn more money by having more people involved. This generally involves a one-time event, such as:

Although these need your immediate participation, your earning potential is a lot higher than when 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 price, promotional cost, and staffing prices and have a nice chunk of change left over. .

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

You might have thought about why not try this out creating one or a number of streams of passive income to live a comfortable life or create good savings. Whatever is the aim 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 think it's true.

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Whatever is the real 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 ideas have worked for many others and can work for you also. Pick one or 2 or more which match your interest, experience and background. Once you've decided to work on them, then there should not be any looking back.

It's fairly possible if you are consistent and persistent then over 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 maybe one of the most recommended methods of earning a passive income. Having a website that has great readership of routine as new subscribers can give access 2 more than one source of passive income.