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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 are 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 attain personal and financial freedom. .

There are two main kinds of passive income and also a third sort of income that, while not passive, nevertheless is a key strategy for earning more and working less.

An insurance agent who gets a commission every year when a customer 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 who produces a movie and sells it in the gyms where she teaches.A marketing consultant who creates a workbook and sells it all in e-book format on the Internet.A photographer who makes his photographs available through a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his pictures. .

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There are many different ways to generate residual income over a huge variety of businesses. It may be recurring income from the very same customers 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 may need some personal interaction, such as the insurance agent calling the customer to remind them regarding their renewal.

Note that this is different from recurring income that might still require your involvement to earn the income. By way of instance, a mentor 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 that restricts on your earning ability based on your own personal production ability. .

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This frees the work of other people to make income for you. A Few Examples of leveraged income include:

An e-book writer selling her e-book through associates who promote the product.A network marketer who 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 models 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 may or may not also be residual income. When you combine them, that's even better.

This sort of income requires your immediate participation, but you can earn 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 an immediate hourly rate. Fill in a room with 1,000 individuals paying $50 each and you can cover your facility cost, 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 probably, you have already been searching the Internet for best passive residual income ideas.

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 powerful so far at creating a normal supply of passive income. The reason might be that you do not believe it's true.

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

These ideas have worked for others and can work for you too. Choose one or two 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 are consistent and persistent then within a time period redirected here you will build a substantial residual income. Dont be surprised is that this passive income amount exceeds your main income from your regular job 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 good readership of regular since new subscribers can provide access two more than one source of passive income.