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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 streams. Whether you're just starting your business, or you've been running it a while, the sooner you start thinking about how you're going to change your business design to create more passive income, the sooner you can achieve personal and financial freedom. .

There are two main kinds of passive income and also a third sort of income that, although not passive, still is a key approach for earning more and working less.

An insurance agent who gets 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 merchandise every month.An aerobics instructor who creates a video and sells it at the gyms where she's teaches.A marketing consultant who produces a workbook and sells it in e-book format on the Internet.A photographer who earns his photographs available via a stock photography clearinghouse and has paid a royalty whenever someone buys one of his pictures. .

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There are many different strategies to generate residual income across a huge array of businesses. It might be recurring income by the very same clients or the earnings of a product to new clients. It could require no personal involvement in any respect, like an e-book offered on a web site, or it may need some personal interaction, like the insurance agent calling the client to remind them about their renewal.

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

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This leverages the work of different people 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 that 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 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 are making money off of other people's labor, rather than primarily your own. Note that leveraged income might or might not 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, for example:

Although these require your direct participation, your earning potential is a lot greater than when someone was just paying you a 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 fees and have a nice chunk of change left over. .

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If you're in the Internet business, then I am sure you are aware of the concept of passive income or residual income. Most probably, you've 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 successful so far at creating a normal source of passive income. The reason might be that you do not think it's true.

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

These notions have worked for others and can work for you too. Pick one or two or more which suit your interest, experience and background. Once you've decided to work on them, then you certainly should not be any looking back.

It is fairly possible if you are 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 occupation or business.

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This is maybe one of the most recommended ways of earning a passive income. Having a blog that has good readership of regular as new readers can provide access two more than one source of passive income.