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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 a while, the sooner you start 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 also a third type of income that, although not passive, still is a key approach for earning more and working less.

An insurance agent who receives a commission annually when a client 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 produces a movie and sells it in the gym at which she's teaches.A marketing consultant who creates a workbook and sells it in e-book format on the Internet.A photographer who makes his photos available through 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 huge variety of businesses. It may be recurring income from the very same customers or the sales of a product to new clients. It could necessitate no personal involvement in any respect, such as an e-book sold on a website, or it can need some personal interaction, such as the insurance agent calling the client to remind them regarding their renewal.

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

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This leverages the work of different folks to make income for you. Some examples of leveraged income include:

An e-book writer selling her e-book through affiliates that promote the product.A network marketer who assembles a downline read review 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 supreme leveraged income). .

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Again, there are many different versions 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 type 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 an immediate hourly fee. Fill in a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional cost, and staffing fees 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 you are conscious of the concept of passive income or residual income. Most probably, you have been searching the Internet for the best passive residual income ideas.

You might have thought of creating one or a number of streams of passive income to live a comfortable life or create good savings. Whatever is your goal or the reason but you have not been really quite powerful so far at creating a regular source of passive income. The reason might be that you do not think it is 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 of generating passive residual income.

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

It's quite possible if you're 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 good readership of routine as new subscribers can provide access 2 more than one source of passive income.