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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 streams. Whether you are just starting your business, or you have been running it a while, the sooner you start 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 basic types of passive income and 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 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 video and sells it at the gym at which she's teaches.A marketing consultant who produces a workbook and sells it all in e-book arrangement on the Internet.A photographer who makes his photos available through 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 over a wide variety of businesses. It may be recurring income from the same customers 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 may require some personal interaction, such as the insurance agent calling the customer to remind them about their renewal.

Note that this is different from recurring income that might still require your involvement to earn the income. For instance, a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday into the local school board has recurring income, however it comes from recurring work which restricts on your earning capacity based on your own personal production ability. .

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This leverages the work of different folks to make income for you. A Few Examples of leveraged income include:

An e-book writer selling her e-book through associates 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 supreme leveraged income). .

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Again, there are many different models in many different businesses. The key is that you're making money off of other people's labour, rather than primarily your own. Note that leveraged income might or might not be residual income. When you combine them, that's even better.

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

Though these require your immediate participation, your earning potential is much greater than if someone was just paying you an immediate hourly fee. Fill a room with 1,000 individuals 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 are in the Internet business, then I am confident that you are aware of the concept of passive income or residual income. Most probably, you've been searching the Internet for 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 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 could be that you do not believe it's true.

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Whatever is the real reason in the background, the good news is that this site gives you a few practical and well tried ways for generating passive residual income.

These ideas have worked for others and can work for you too. Pick one or 2 or more which suit your interest, experience and background. Once you've opted to work on these, then you certainly should not be any looking back.

It's quite possible if you are consistent and persistent then over a period of time you may build a great post to read 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 great readership of routine since new subscribers can give access 2 more than one source of passive income.