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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 have been running it some time, the sooner you get started thinking about how you're going to shift 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 a third type of income which, although not passive, still is a key strategy for earning more and working less.

An insurance agent who receives a commission annually when a customer renews his policy.A network marketing or direct sales rep's income from her direct clients when they reorder product every month.An aerobics instructor who creates a movie and sells it at 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 buys one of his pictures. .

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There are many different strategies to generate residual income over a huge array of businesses. It may be recurring income from the same customers or the sales of a product to new customers. It may require no personal involvement in any respect, such as an e-book sold on a website, or it may need some personal interaction, like the insurance agent calling the client to remind them regarding their renewal.

Note that this is different from recurring income that might still need your involvement to earn the income. By way of 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, but it comes in recurring work that restricts on your earning ability based on your own personal production capacity. .

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This frees the work of other people to create 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 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're making money from other people's labour, rather than mainly 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 immediate participation, but you can earn more money by having more people involved. This generally involves a one-time event, for example:

Although these need your direct participation, your earning potential is a lot higher than if someone was just paying you an immediate hourly fee. Fill in a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional price, and staffing prices and have a nice chunk of change left over. .

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If you're in the Internet business, then I am sure that you are conscious of the concept of passive income or residual income. Most likely, you have already been searching the Internet for the best passive residual income ideas.

You may have thought about creating one or several streams of passive income to live a comfortable life or create superior savings. Whatever is your aim or the reason but you have not been really quite powerful 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 real reason in the background, the fantastic news is that this blog gives you a few practical and my website well tried methods for generating passive residual income.

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

It is fairly 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 occupation or business.

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This is perhaps one of the most recommended methods of earning a passive income. Having a website that has great readership of regular since new subscribers can give access two more than one source of passive income.