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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've been running it some time, the sooner you start thinking about how you are going to shift 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 that, while not passive, nevertheless 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 direct customers when they reorder product every month.An aerobics instructor that produces a movie and sells it in the gym at which she teaches.A marketing consultant who produces a workbook and sells it all in e-book format on the Internet.A photographer who earns his photographs available through a stock photography clearinghouse and gets paid a royalty whenever someone purchases one of his pictures. .

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There are many different strategies to generate residual income across a wide array of businesses. It may be recurring income by the very same clients or the sales of a product to new clients. It may require no personal involvement whatsoever, like an e-book sold on a web site, or it can require some personal interaction, such as the insurance agent calling the client to remind them regarding their renewal.

Note that this is different from recurring income that might still require your involvement to earn the income. For instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday to the local school board has recurring income, however it comes from 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 make income for you. Some examples of leveraged income include:

An try these out e-book writer selling her e-book through affiliates who 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 supreme leveraged income). .

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Again, there are many different models in many different businesses. The key is that you are making money off of other people's labour, 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 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:

Though these require your direct participation, your earning potential is much higher than when someone was paying you an immediate hourly fee. Fill in a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional price, and staffing fees and have a nice chunk of change left over. .

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If you are in the Internet business, then I am sure 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 several streams of passive income to live a comfortable life or make superior savings. Whatever is your aim or the reason but you have not been really very powerful so far at creating a normal source 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 site gives you a few practical and well tried methods of generating passive residual income.

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

It is quite possible if you are consistent and persistent then within a time period 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 methods of earning a passive income. Having a blog that has great readership of regular as new readers can provide access two more than one source of passive income.