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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 have been running it some time, the sooner you get started thinking about how you are going to change your business model 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, although not passive, still 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 guide clients when they reorder product every month.An aerobics instructor who 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 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 ways to generate residual income over a wide array of businesses. It may be recurring income by the same clients or the earnings of a product to new clients. It may necessitate no personal involvement whatsoever, like an e-book sold on a website, or it can require some personal interaction, like the insurance agent calling the customer to remind them regarding their renewal.

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

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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 affiliates that 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 job done by subcontractors.Franchising your business model into 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're look these up making money from other people's labor, rather than mainly your own. Note that leveraged income might or might not also be residual income. When you combine them, that's 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, such as:

Though these require your direct participation, your earning potential is a lot greater than if someone was paying you an immediate hourly rate. Fill a room with 1,000 individuals paying $50 each and you can pay for your facility cost, promotional price, and staffing prices and 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 conscious of the concept of passive income or residual income. Most likely, you have already been searching the Internet for the best passive residual income thoughts.

You might have thought about creating one or a number of streams of passive income to live a comfortable life or create good savings. Whatever is the 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 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 of generating passive residual income.

These ideas have worked for many others and can work for you too. Choose one or two or more which match 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 are consistent and persistent then within a period of time you will build a substantial residual income. have a peek here Dont be surprised is 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 methods of earning a passive income. Having a blog that has good readership of regular as new subscribers can provide access 2 more than one source of passive income.