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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've been running it some time, 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 achieve personal and financial freedom. .

There are two basic types of passive income and a third type of income that, while not passive, still is an integral strategy for earning more and working less.

An insurance agent who receives a commission annually 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 at 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 through 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 over a huge array of businesses. It might be recurring income by the same clients or the sales of a product to new customers. It may necessitate no personal involvement whatsoever, such as an e-book sold on a web site, or it may need some personal interaction, like 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 your income. For instance, a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to the local school board has recurring income, but it comes from recurring work that restricts on your earning capacity based on your own personal production ability. .

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This frees 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 associates who promote the product.A network marketer who assembles 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 find out this here 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 from other people's labor, rather than primarily your own. Note that leveraged income might or might not be residual income. When navigate here 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, for example:

Though these require your direct participation, your earning potential is much higher than when someone was paying you an immediate hourly fee. Fill in a room with 1,000 people paying $50 each and you can cover your facility cost, promotional cost, and staffing prices and have a nice chunk of change left over. .

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If you're in the Internet business, then I am sure that you are conscious of the concept of passive income or residual income. Most probably, you've already been searching the Internet for the best passive residual income ideas.

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

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

These ideas have worked for many others and can work for you too. Choose one or 2 or more which suit your interest, experience and background. Once you have opted 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 time period 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 that has good readership of routine as new readers can provide access 2 more than one source of passive income.