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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've been running it some time, the sooner you get started thinking about how you're going to shift 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 type of income that, while not passive, nevertheless is a key approach for earning more and working less.

An insurance agent who receives a commission every year when a customer renews his policy.A network marketing or direct sales rep's income from her direct clients when they reorder merchandise every month.An aerobics instructor who produces a video 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 gets paid a royalty whenever someone buys one of his pictures. .

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There are many different strategies to generate residual income across a wide variety of businesses. It may be recurring income from the very same customers or the earnings of a product to new customers. It may require no personal involvement whatsoever, such as an e-book sold on a website, or it may require 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 need your involvement to earn your income. For example, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch each Monday to the local school board has recurring income, however it comes in recurring work which restricts on your earning ability based on your own personal production capacity. .

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

An e-book writer selling her e-book through affiliates who promote the product.A network marketer that 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 versions in many different businesses. The key is that you are making money from other people's labor, rather than primarily your own. Note that leveraged income might or might not also be residual income. When you combine them, that is even better.

This sort of income requires your immediate participation, but you can make more money by having more people involved. This generally involves a one-time event, for example:

Though these require your immediate participation, your earning potential is much greater than when someone was just paying you a direct hourly fee. Fill in a room with 1,000 individuals paying $50 each and you can pay for your facility cost, promotional price, 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 confident that you are aware of the concept of passive income or residual income. Most likely, you have been searching the Internet for best passive residual income thoughts.

You may have thought about creating one or several streams of passive income to live a comfortable life or create good savings. Whatever is your aim or the reason but you have not been really very successful 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 is the actual reason in the background, the good news is that this site gives you a few practical and well tried ways of generating passive residual income.

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

It is quite possible if you're consistent and persistent then over a period of time you will build a substantial residual income. Dont be surprised is 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 blog which has good readership of routine as new readers can provide access 2 more than one source of passive income.