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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've 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 main kinds of passive income and a third type of income which, while not passive, nevertheless is an integral strategy 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 who creates a video and sells it at the gym at which she teaches.A marketing consultant who creates a workbook and sells it all 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 images. .

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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 necessitate no personal involvement whatsoever, such as an e-book sold on a website, or it may 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 require your involvement to earn your income. By way of instance, a coach 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 leverages the work of different 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 Visit This Link a downline and receives commissions on the sales generated 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 models in many different businesses. The key is that you're making money from other people's labour, 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, such as:

Though these require your direct participation, your earning potential is much higher than if someone was paying you a direct hourly rate. Fill in a room with 1,000 individuals paying $50 each and you can pay for your facility price, 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 confident you are aware of the concept of passive income or residual income. Most probably, you've already been searching the Internet for the best passive residual income ideas.

You might have thought of creating one or a number of 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 powerful so far at creating a normal source of passive income. The reason might be that you do not believe it's true.

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Whatever is the real 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 ideas have worked for many others and can work for you too. Pick one or 2 or more which suit your interest, experience and background. Once you've decided to work on them, then you certainly should not be any looking back.

It is fairly possible if you are consistent and persistent then within a period of time 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 perhaps one of the most recommended methods of earning a passive income. Having a blog that has great readership of regular since new subscribers can give access two more than one source of passive income.