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If you want to earn more, work less, and have a comfortable retirement, it is important to begin creating passive income flows. Whether you are just starting your business, or you have been running it some time, the sooner you get started thinking about how you're going to change your business model to create more passive income, the sooner you can achieve personal and financial freedom. .

There are two basic types of passive income and also a third type of income which, while not passive, nevertheless is a key strategy for earning more and working less.

An insurance agent who receives a commission annually when a customer renews his policy.A network marketing or direct sales rep's income from her guide customers when they reorder product every month.An aerobics instructor that produces a movie and sells it at the gyms where she's teaches.A marketing consultant who creates a workbook and sells it all in e-book arrangement 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 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 very same clients or the sales of a product to new customers. It could require no personal involvement in any respect, such as an e-book offered on a web site, or it can need some personal interaction, such as the insurance agent calling the client to remind them about their renewal.

Note that this is different from recurring income which may still need your involvement to earn your income. By way of example, 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 in recurring work that restricts on your earning ability based on your own personal production capacity. .

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This frees the work of other people to make 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 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 business model to 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 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:

Although these require your direct participation, your earning potential is a lot higher than when someone was paying you an immediate hourly fee. Fill a room with 1,000 people paying $50 each and you can pay for your facility price, promotional price, and have a peek at this website 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 you are aware 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.

You may have thought of creating one or several streams of passive income to live a comfortable life or make superior savings. Whatever is the goal or the reason but you have not been really quite powerful so far at creating a regular 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 fantastic news is that this blog provides you a few practical and well tried methods for 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've decided to work on these, then there should not be any looking back.

It is fairly possible if you're consistent and persistent then over a time period 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 regular as new subscribers can provide access two more than one source of passive income.