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If you want to earn more, work less, and have a comfortable retirement, it is important to begin creating passive income flows. Whether you're just starting your business, or you have been running it some time, the sooner you start thinking about how you're going to shift your business design 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 which, although not passive, still is a key strategy 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 customers when they reorder product every month.An aerobics instructor who creates a movie and sells it in the gym at which she's 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 strategies to generate residual income over a huge array of businesses. It might be recurring income by the same clients or the earnings of a product to new clients. It may necessitate no personal involvement in any respect, like an e-book sold on a website, or it may require some personal interaction, such as 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 your income. By way of instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch each Monday into the local school board has recurring income, however it comes in recurring work which limits on your earning capacity based on your own personal production capacity. .

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This leverages the work of different folks to make income for you. A Few Examples of leveraged income include:

An e-book writer selling her e-book through associates that promote the product.A network marketer who 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 to other entrepreneurs (the supreme leveraged income). .

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Again, there are many different models in many different businesses. The key is that you're making money off of other people's labor, 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 direct participation, but you can make more money by having more people involved. Extra resources This generally involves a one-time event, for example:

Although these require your direct participation, your earning potential is much higher than when someone was paying you an immediate hourly rate. Fill a room with 1,000 people paying $50 each and you can cover 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 that you are aware of the concept of passive income or residual income. Most blog here likely, you've been searching the Internet for the 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 create good savings. Whatever is the aim or the reason but you have not been really very successful so far at creating a normal supply of passive income. The reason might 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 of generating passive residual income.

These notions 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 is quite possible if you're consistent and persistent then over a time period 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 ways of earning a passive income. Having a website that has good readership of regular as new readers can give access 2 more than one source of passive income.