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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 streams. Whether you're just starting your business, or you've been running it some time, 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 main kinds of passive income and also a third sort of income which, although not passive, still 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 produces a video and sells it in the gyms where she teaches.A marketing consultant who creates a workbook and sells it in e-book format on the Internet.A photographer who earns his photos available via a stock photography clearinghouse and has paid a royalty whenever someone purchases one of his pictures. .

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There are many different strategies to generate residual income across a wide variety of businesses. It might be recurring income from the same customers or the earnings of a product to new customers. It may require no personal involvement whatsoever, like 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 require your involvement to earn your income. For instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch each 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 different people to create income for you. Some examples of leveraged income include:

An e-book writer selling her e-book through associates who promote the product.A network marketer who 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 job done by subcontractors.Franchising your business model into 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're making money off of other people's labor, rather than mainly your own. Note that leveraged income may or may not be residual income. When you combine them, that is even better.

This type of income requires your direct participation, but you can make more money by having more people involved. Discover More This generally involves a one-time event, for example:

Although these need your immediate participation, your earning potential is much greater than if someone was paying you an immediate hourly rate. Fill a room with 1,000 individuals paying $50 each and you can pay for your facility price, promotional cost, and staffing fees and still have a nice chunk of change left over. .

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If you are in the Internet business, then I am sure you are aware of the concept of passive income or residual income. Most likely, you have already been searching the Internet for the best passive residual income thoughts.

You may have thought about creating one or a number of streams of passive income to live a comfortable life or make good savings. Whatever is the aim or the reason but you have not been really quite successful so far at creating a regular supply of passive income. The reason could be that you do not think it is true.

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Whatever is the actual reason in the background, the fantastic news is that you can check here this blog 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've opted to work on these, then there should not be any looking back.

It's fairly possible if you're consistent and persistent then within 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 great readership of regular since new readers can provide access two more than one source of passive income.