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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 streams. Whether you're just starting your business, or you've been running it some time, the sooner you start 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 basic types of passive income and a third sort of income that, although not passive, still is an integral 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 customers when they reorder product every month.An aerobics instructor that creates a movie and sells it in the gym at which she's teaches.A marketing consultant who produces a workbook and sells it all in e-book format on the Internet.A photographer who makes his photographs available through a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his pictures. .

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There are many different strategies to generate residual income across a huge variety of businesses. It may be recurring income by the very same customers or the sales of a product to new clients. It could necessitate no personal involvement whatsoever, like an e-book sold on a website, or it can 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 need your involvement to earn your income. For instance, a coach or consultant on a monthly retainer, or a caterer who delivers lunch each Monday into the local school board has recurring income, but it comes from recurring work which restricts on your earning capacity based on your own personal production ability. .

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

An e-book author selling her e-book through associates who 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 to other entrepreneurs (the ultimate leveraged income). .

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Again, there are many different versions 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 is even better.

This type 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 greater than if someone was just paying you a direct hourly fee. Fill a room with 1,000 people paying $50 each and you can cover your facility cost, promotional price, and staffing fees and 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 conscious of the concept of passive income or residual income. Most probably, you've already been searching the Internet for best passive residual income ideas.

You may have thought of creating one or a number of streams of passive income to live a comfortable life or make good savings. Whatever is the aim or the reason but you have not been really very successful so far at creating a regular source of passive income. The reason could be that you do not believe it is true.

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Whatever is the actual 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 others and can work for you too. Pick one or two or more which suit your interest, experience and background. Once you have opted to work on these, then you certainly should not be any looking back.

It is quite possible if you are consistent and persistent more then within 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 job 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.