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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 streams. Whether you are 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 model to create more passive income, the sooner you can attain personal and financial freedom. .

There are two basic types of passive income and also a third sort of income that, while not passive, nevertheless is a key approach for earning more and working less.

An insurance agent who gets a commission annually when a client 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 produces a movie 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 earns his photographs available through a stock photography clearinghouse and has paid a royalty whenever someone purchases one of his pictures. .

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There are many different ways to generate residual income across a wide variety of businesses. It might be recurring income by the same customers or the sales of a product to new clients. It could require no personal involvement in any respect, such as an e-book offered on a web site, 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 that might still require 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 into the local school board has recurring income, but it comes from 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 create income for you. A Few Examples of leveraged income include:

An e-book author selling her e-book through associates 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 to 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 are making money from other people's labour, rather than primarily your own. Note that leveraged income might or might not also be residual income. When you combine them, that's 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, for example:

Although these need your immediate participation, your earning potential is much higher than when someone was just paying you a direct hourly fee. Fill in a room with 1,000 people paying $50 each and you can cover your facility price, promotional cost, and staffing prices and still 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 probably, you have already been searching the Internet for the 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 goal or the reason but you have not been really very powerful so far at creating a normal supply of passive income. The reason might be that you do not think it's true.

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Whatever is the real reason in the background, the good news is that this site provides you a few practical and well tried methods of generating passive residual income.

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

It is quite possible if you are consistent and persistent then within a period of time you may 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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