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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're just starting your business, or you have been running it a while, the sooner you get started thinking about how you're going to change your business model to create more passive income, the sooner you can achieve personal and financial freedom. .

There are two basic types of passive income and a third type of income that, although not passive, nevertheless is a key 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 customers when they reorder product every month.An aerobics instructor who produces a video and sells it in the gym at which she's teaches.A marketing consultant who produces 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 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 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 website, or it can need some personal interaction, like the insurance agent calling the customer to remind them about their renewal.

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

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This leverages the work of other people to create income for you. Some examples of leveraged income include:

An e-book author selling her e-book through associates who 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 job done by subcontractors.Franchising your business model to other entrepreneurs (the ultimate leveraged income). .

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Again, there are many different versions in many different their website businesses. The key is that you are making money from other a knockout post people's labour, rather than mainly your own. Note that leveraged income might or might not also be residual income. When you combine them, that is 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, for example:

Although these need your immediate participation, your earning potential is much higher than if someone was paying you a direct hourly fee. Fill in a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional price, and staffing prices and still 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 conscious of the concept of passive income or residual income. Most likely, you've been searching the Internet for best passive residual income ideas.

You might have thought of creating one or several streams of passive income to live a comfortable life or make good savings. Whatever is the goal or the reason but you have not been really very powerful so far at creating a normal supply 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 blog gives you a few practical and well tried methods for generating passive residual income.

These notions have worked for many others and can work for you also. Pick one or 2 or more which suit your interest, experience and background. Once you have decided to work on them, then there should not be any looking back.

It's fairly possible if you're consistent and persistent then within 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 perhaps one of the most recommended methods of earning a passive income. Having a blog that has great readership of routine since new readers can give access 2 more than one source of passive income.