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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 get started thinking about how you are going to change your business design 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 sort of income which, while not passive, nevertheless is a key strategy for earning more and working less.

An insurance agent who gets 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 gyms where she teaches.A marketing consultant who produces a workbook and sells it in e-book format on the Internet.A photographer who makes his photographs available via a stock photography clearinghouse and has paid a royalty whenever someone purchases one of his pictures. .

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There are many different ways to generate residual income over 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 require no personal involvement whatsoever, such as an e-book offered on a web site, or it may require some personal interaction, like 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. For instance, a coach or consultant on a monthly retainer, or a secretary who delivers lunch every Monday into the local school board has recurring income, however it comes from recurring work which restricts on your earning ability based on your own personal production ability. .

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

An e-book writer selling her e-book through associates that promote the product.A network marketer that 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 click resources 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 from other people's labor, rather than primarily your own. Note that leveraged income might or might not be residual income. When you combine them, that is even better.

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

Although these need your immediate 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 cost, and staffing prices and still have a nice chunk of change left over. .

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If you're in the Internet business, then I am confident you are aware of the concept of passive income or read the article residual income. Most probably, you've been searching the Internet for 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 think it's true.

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Whatever is the actual reason in the background, the good news is that this blog provides you a few practical and well tried ways of generating passive residual income.

These ideas have worked for others and can work for you also. Pick one or two or more which suit your interest, experience and background. Once you have decided to work on them, then there should not be any looking back.

It is fairly possible if you're consistent and persistent then over 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 job 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 routine as new readers can give access 2 more than one source of passive income.