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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 are just starting your business, or you have been running it a while, the sooner you start thinking about how you're 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 that, while not passive, nevertheless 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 video and sells it in the gym at which she's teaches.A marketing consultant who creates a workbook and sells it in e-book arrangement 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 ways to generate residual income across a wide array of businesses. It might be recurring income by the same clients or the earnings of a product to new clients. It could necessitate no personal involvement in any respect, like an e-book offered on a web site, or it can require some personal interaction, such as the insurance agent calling the customer to remind them regarding their renewal.

Note that this is different from recurring income which may still require your involvement to earn your 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, but it comes from recurring work which limits on your earning ability based on your own personal production capacity. .

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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 writer selling her e-book through affiliates who promote the product.A network marketer who 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 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 may or may not also be residual income. When you combine them, that's even better.

This type of income requires your see this website immediate participation, but you can make more money by having more people involved. This generally involves a one-time event, such as:

Although these need your direct participation, your earning potential is a lot greater than if someone was just paying you an immediate 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 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 aware of the concept of passive income or residual income. Most probably, you have already been searching the Internet for the best passive residual income ideas.

You might have thought about creating one or a number of streams of passive income to live a comfortable life or make superior savings. Whatever is your goal or the reason but you have not been really very powerful so far at creating a normal supply of passive income. The reason might be that you do not believe it's true.

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Whatever is the real reason in the background, the good news is that this site gives you a few practical and well tried ways for generating passive residual income.

These ideas have worked for others and can work for you also. Choose one or two or more which suit your interest, experience and background. Once you have opted to work on them, 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 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 perhaps one of the most recommended ways of earning a passive income. Having a blog which has good readership of routine since new readers can give access 2 more than one source of passive income.