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If you want to earn more, work less, and have a comfortable retirement, it's important to begin creating passive income flows. Whether you are just starting your business, or you've been running it some time, the sooner you get started thinking about how you are going to shift your business model to create more passive income, the sooner you can achieve personal and financial freedom. .

There are two main kinds of passive income and a third type of income which, although not passive, still is an integral approach for earning more and working less.

An insurance agent who receives 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 creates a video and sells it at the gym at which she's teaches.A marketing consultant who creates a workbook and sells it all 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 pictures. .

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There are many different ways to generate residual income across a wide variety of businesses. It may be recurring income by the very same customers or the sales of a product to new customers. It may necessitate no personal involvement whatsoever, such as an e-book offered on a web site, or it can need some personal interaction, like 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 example, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch every Monday into the local school board has recurring income, however it comes from recurring work which restricts on your earning capacity based on your own personal production ability. .

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

An e-book writer selling her e-book through affiliates that promote the product.A network marketer that assembles a downline and receives commissions on the sales generated 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 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 might or might not be residual income. When you combine them, that is even better.

This sort of review income requires your direct participation, but you can make more money by having more people involved. This generally involves a one-time event, for example:

Though these require your direct participation, your earning potential is much higher than if someone was paying you an immediate 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 still 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 conscious of the concept of passive income or residual income. Most probably, you have been searching the Internet for best passive residual income thoughts.

You may have thought of creating one or a number of streams of passive income to live a comfortable life or make superior savings. Whatever is the aim or the reason but you have not been really very successful so far at creating a normal 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 good news is that this site provides you a few practical and well tried ways of generating passive residual income.

These notions have worked for others and can work for you also. Pick one or 2 or more which match your interest, experience and background. Once you have decided 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 that this passive income amount exceeds your main income from your regular job or business.

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This is maybe one of the most recommended methods of earning a passive income. Having a website which has great readership of regular as new subscribers can give access 2 more than one source of passive income.