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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 start thinking about how you are going to change your business design 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, while not passive, nevertheless is a key approach for earning more and working less.

An insurance agent who gets a commission annually when a customer renews his policy.A network marketing or direct sales rep's income from her direct clients when they reorder product every month.An aerobics instructor that creates a video and sells it in the gyms where 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 via 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 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 may necessitate no personal involvement whatsoever, like an e-book offered on a web site, or it may need some personal interaction, such as the insurance agent calling the client to remind them regarding their renewal.

Note that this is different from recurring income which may still need your involvement to earn the income. For instance, a coach or consultant on a monthly retainer, or a caterer who delivers lunch each Monday to the local school board has recurring income, but it comes from recurring work that limits on your earning capacity based on your own personal production ability. .

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

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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 to other entrepreneurs (the ultimate leveraged income). .

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Again, there are many different models in many different businesses. The key is that you're 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'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, such as:

Though these need your direct participation, your earning potential is a lot higher than when someone was paying you a direct hourly fee. Fill in a room with 1,000 people paying $50 each and you can cover your facility cost, 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 that you are conscious of the concept of passive income or residual income. Most likely, you've already been searching the Internet for the best passive residual income thoughts.

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You might have thought about creating one or several streams of passive income to live a comfortable life or create superior savings. Whatever is the aim or the reason but you have not been really quite powerful so far at creating a normal supply of passive income. The reason might be that you do not think it is true.

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

These notions have worked for others and can work for you too. Pick one or two or more which suit your interest, experience and background. Once you've decided to work on these, then there should not be any looking back.

It is quite possible if you're 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 occupation or business.

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This is perhaps one of the most recommended ways of earning a passive income. Having a website that has good readership of regular since new readers can provide access 2 more than one source of passive income.

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