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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 flows. 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 which, while not passive, still is an integral approach for earning more and working less.

An insurance agent who gets a commission annually when a customer renews his policy.A network marketing or direct sales rep's income from her direct customers when they reorder merchandise every month.An aerobics instructor who creates a movie and sells it at the gym at which she teaches.A marketing consultant who creates a workbook and sells it all in e-book arrangement on the Internet.A photographer who makes his photos available via a stock photography clearinghouse and has paid a royalty whenever someone buys one of his images. .

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There are many different strategies to generate residual income over a wide variety of businesses. It might be recurring income from the very same customers or the earnings of a product to new customers. It may require no personal involvement whatsoever, like an e-book offered on a website, 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 that might still need your involvement to earn the income. By way of example, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch each Monday into 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 capacity. .

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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 author selling her e-book through affiliates who promote the product.A network marketer that 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 job done by subcontractors.Franchising your business model to other entrepreneurs (the ultimate leveraged income). .

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Again, there are many different models in many different businesses. The key is that you're making money from other people's labor, 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 sort 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 immediate participation, your earning potential is much higher than if someone was just paying you a direct hourly rate. 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 confident 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 about creating one or several streams of passive income to live a comfortable life or make superior savings. Whatever is the goal or the reason but you have not been really quite successful so far at creating a normal source of passive income. The reason could be that you do not believe it's true.

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Whatever is the actual reason in the background, why not try this out the fantastic news is that this site 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 also. Pick one or 2 or more which suit your interest, experience and background. Once you have opted to work on them, then you certainly should not be any looking back.

It is quite 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 occupation or business.

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This is maybe one of the most recommended ways of earning a passive income. Having a website which has good readership of regular as new subscribers can provide access two more than one source of passive income.