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If you want to earn more, work less, and have a comfortable retirement, it is important to start 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 shift 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 a third type of income which, although not passive, still is an integral strategy 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 guide customers when they reorder product every month.An aerobics instructor who produces a video and sells it at the gym at which she teaches.A marketing consultant who creates a workbook and sells it in e-book arrangement on the Internet.A photographer who makes his photos available through a stock photography clearinghouse and gets 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 variety of businesses. It may be recurring income by the same clients or the sales of a product to new customers. It may require no personal involvement in any respect, such as an e-book sold on a website, or it can require 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 coach or consultant on a monthly retainer, or a secretary who delivers lunch every Monday into the local school board has recurring income, however it comes from recurring work which limits on your earning ability based on your own personal production capacity. .

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This leverages the work of different people to create income for you. Some examples of leveraged income include:

An e-book author selling her e-book through affiliates that promote the product.A network marketer that builds 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 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 off of other people's labour, rather than mainly your own. Note that leveraged income might or might not also 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. This generally involves a one-time event, for example:

Though these need your immediate participation, your earning potential is a lot higher than when someone was just paying you a direct hourly rate. Fill a room with 1,000 individuals paying $50 each and you can cover your facility price, promotional price, and staffing fees and 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 been searching the Internet for the best passive residual income thoughts.

You might have thought of creating one or several streams of passive income to live a comfortable life or make superior savings. Whatever is your aim or the reason but you have not been really quite powerful 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, the fantastic news is that this site gives you a few practical and well tried methods for generating passive residual income.

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

It's fairly possible if you're consistent and persistent then within 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 blog which has great readership of routine read what he said as new readers can give access two more than one source of passive income.