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If you want to earn more, work less, and have a comfortable retirement, it's important to start creating passive income flows. Whether you are just starting your business, or you've been running it a while, the sooner you start thinking about how you are going to shift your business design to create more passive income, the sooner you can attain personal and financial freedom. .

There are two main kinds of passive income and also a third type of income which, although not passive, nevertheless is a key approach for earning more and working less.

An insurance agent who gets a commission every year when a client 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 video and sells it in the gyms where she's teaches.A marketing consultant who produces a workbook and sells it in e-book arrangement on the Internet.A photographer who makes his photographs available via a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his images. .

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There are many different strategies to generate residual income over a huge variety of businesses. It might be recurring income from the same customers or the sales of a product to new customers. It may require no personal involvement whatsoever, like an e-book sold on a website, or it can need some personal interaction, like the insurance agent calling the customer to remind them about their renewal.

Note that this is different from recurring income that might still require your involvement to earn your income. By way of example, a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to the local school board has recurring income, but it comes from recurring work that limits on your earning ability based on your own personal production ability. .

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

An e-book writer selling her e-book through affiliates who promote the product.A network marketer who builds 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 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 labour, rather than mainly your own. Note that leveraged income may or may not be residual income. When you combine them, that is even better.

This sort of income requires your direct participation, but you can earn 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 when someone was paying you a direct hourly fee. Fill in a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional price, 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 you are aware of the concept of passive income or residual income. Most probably, you have 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 create good savings. Whatever is the aim or the reason but you have not been really very successful so far at creating a normal source of passive income. The reason might be that you do not believe it is true.

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Whatever is the actual reason in the background, the good news is that this site provides you click for more info a few practical and well tried ways for generating passive residual income.

These ideas have worked for many others and can work for you also. Choose one or 2 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 then over a time period 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 maybe one of the most recommended methods of earning a passive income. Having a website which has good readership go to my blog of routine since new readers can provide access two more than one source of passive income.