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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 get started 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 a third type of income that, 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 guide clients when they reorder merchandise every month.An aerobics instructor that creates a video and sells it at the gym at which she teaches.A marketing consultant who produces a workbook and sells it 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 across a huge variety of businesses. It might be recurring income from the very same customers or the earnings of a product to new clients. It may require no personal involvement whatsoever, like an e-book sold on a web site, or it can need some personal interaction, such as the insurance agent calling the client to remind them about their renewal.

Note that this is different from recurring income which may still need your involvement to earn your income. For instance, 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 in recurring work which restricts on your earning capacity based on your own personal production ability. .

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This leverages the work of different people to create income for you. A Few Examples of leveraged income include:

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An e-book writer 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 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 are making money off of 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 is even better.

This sort of income requires your immediate participation, but you can make 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 just paying you a direct hourly fee. Fill 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 confident you are aware of the concept of passive income or residual income. Most likely, you've been searching the Internet for the best passive residual income thoughts.

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You may have thought of creating one or a number of streams of passive income to live a comfortable life or create superior savings. Whatever is the goal 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 real reason in the background, the fantastic news is that this site gives you a few find here 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 two or more which match your interest, experience and background. Once you have opted to work on them, then you certainly should not be any looking back.

It's quite possible if you're consistent and persistent then over a period of time you may 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 great readership of regular as new subscribers can give access 2 more than one source of passive income.

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