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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 are just starting your business, or you've been running it some time, the sooner you get started thinking about how you are going to change 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 also a third type of income which, although 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 produces a movie and sells it in the gyms where she teaches.A marketing consultant who produces a workbook and sells it in e-book format on the Internet.A photographer who earns his photos available through a stock photography clearinghouse and gets paid a royalty whenever someone buys one of his images. .

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There are many different strategies to generate residual income across a wide variety 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, such as an e-book sold on a web site, or it can 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 need 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 in recurring work which limits on your earning ability based on your own personal production capacity. .

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This frees the work of other people to make income for you. A Few Examples of leveraged income include:

An e-book author 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 job done by subcontractors.Franchising your business model into 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 from other people's labour, rather than primarily your own. Note that leveraged income might or might not also 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 immediate participation, your earning potential is a lot higher than if someone was paying linked here 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 prices and still 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 likely, you've already been searching the Internet for the best passive residual income ideas.

You might have thought of creating one or several 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 powerful so far at creating a regular source of passive income. The reason could be that you do not think it is true.

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Whatever is the real reason in the background, the fantastic news is that this blog provides you a few practical and well tried ways 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 opted to work on them, then you certainly should not be any looking back.

It's quite possible if you're consistent and persistent then over 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 regular since new subscribers can provide access 2 more than one source of passive income.