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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 have been running it some time, 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 attain personal and financial freedom. .

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

An insurance agent who receives a commission every year when a customer renews his policy.A network marketing or direct sales rep's income from her direct clients when they reorder merchandise every month.An aerobics instructor that creates a movie and sells it at the gym at which she teaches.A marketing consultant who creates a workbook and sells it all in e-book format on the Internet.A photographer who makes his photos available via a stock photography clearinghouse and gets paid a royalty whenever someone buys one of his images. .

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There are many different ways to generate residual income across a wide array of businesses. It may be recurring income by the very same customers or the earnings of a product to new customers. It could require no personal involvement whatsoever, like an e-book sold 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 which may still require your involvement to earn the income. By way of 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, but it comes in recurring work which limits on your earning ability based on your own personal production ability. .

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This leverages the work of other folks 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 who 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 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 businesses. The key is that you're making money from other people's labor, rather than mainly your own. Note that leveraged income may or may not be residual income. When you combine them, that's even better.

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

Though these need your immediate participation, your earning potential is a lot greater than when someone was paying you a direct hourly rate. Fill a room with 1,000 people paying $50 each and you can pay for your facility price, promotional price, and staffing fees 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 already been searching the Internet for best passive residual income ideas.

You may have thought about creating one or several streams of passive income to live a comfortable life or make superior savings. Whatever is your goal or Bonuses the reason but you have not been really quite successful so far at creating a normal supply 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 good news is that this site provides you a my website few practical and well tried ways for generating passive residual income.

These ideas 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 these, then there should not be any looking back.

It's quite possible if you are consistent and persistent then within a period of time you will 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 as new readers can give access two more than one source of passive income.