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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 flows. Whether you're just starting your business, or you've been running it a while, the sooner you get started thinking about how you are going to change your business design 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 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 every year 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 that creates a movie and sells it in the gym at which she's teaches.A marketing consultant who produces a workbook and sells it in e-book format on the Internet.A photographer who earns his photographs 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 may be recurring income by the same customers or the earnings of a product to new clients. It could require no personal involvement in any respect, like an e-book sold on a website, or it can require some personal interaction, like the insurance agent calling the client to remind them about their renewal.

Note that this is different from recurring income which may still require your involvement to earn the income. For instance, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch every Monday into the local school board has recurring income, however it comes from recurring work that restricts on your earning capacity based on your own personal production capacity. .

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

An e-book author selling her e-book through affiliates who 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 job done by subcontractors.Franchising your business model into other entrepreneurs (the ultimate leveraged income). .

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Again, he has a good point 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 may or may not be residual income. When you combine them, that's even better.

This sort 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:

Although these need your immediate participation, your earning potential is a lot higher than when someone was paying you a direct hourly fee. Fill a room with 1,000 people paying $50 each and you can pay for your facility price, promotional cost, 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 sure you are aware of the concept of passive income or residual income. Most likely, you've been searching the Internet for best passive residual income ideas.

You might have thought about creating one or a number of 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 very successful so far at creating a regular navigate here supply of passive income. The reason could be that you do not think it's true.

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

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

It is fairly 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 occupation or business.

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This is perhaps one of the most recommended ways of earning a passive income. Having a blog which has good readership of routine as new subscribers can provide access 2 more than one source of passive income.