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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 design to create more passive income, the sooner you can attain personal and financial freedom. .

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

An insurance agent who gets a commission every year when a client 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 creates a movie and sells it in the gym at which she teaches.A marketing consultant who creates 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 has 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 wide array of businesses. It may be recurring income by the 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 offered on a website, 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 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 each Monday into the local school board has recurring income, however it comes in recurring work which limits on your earning capacity based on your own personal production capacity. .

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This leverages the work of different folks to create income for you. Some examples of leveraged income include:

An company website e-book writer selling her e-book through affiliates that promote the product.A network marketer who 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 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 off of 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 is even better.

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

Although these need your direct participation, your earning potential is much greater than if someone was just paying you an immediate hourly rate. Fill in a room with 1,000 people paying $50 each and you can cover your facility cost, promotional price, and staffing prices and still have a nice chunk of change left over. .

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

You might have thought of creating one or several streams of passive income to live a comfortable life or make good savings. Whatever is your goal or the reason but you have not been really quite successful so far at creating a normal source 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 fantastic news is that this blog provides you a few practical and well tried ways 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 suit your interest, experience and background. Once you've opted to work on them, then you certainly should not be any looking back.

It's fairly possible if you're consistent and persistent then within a period of time 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 website which has great readership of routine as new readers can give access 2 more than one source of passive income.