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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're just starting your business, or you have been running it a while, the sooner you start thinking about how you're going to shift your business design 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, although not passive, still 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 video and sells it at the gym at which she's teaches.A marketing consultant who produces a workbook and sells it in e-book format on the Internet.A photographer who makes his photos available via 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 might 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 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 which may still need your involvement to earn your income. For example, a coach or consultant on a monthly retainer, or a secretary who delivers lunch each Monday into the local school board has recurring income, but it comes from recurring work that restricts on your earning ability based on your own personal production ability. .

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

An e-book author selling her e-book through associates who promote the product.A network marketer Web Site that builds a downline and receives commissions on the sales generated 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 are 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 sort 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 require your direct participation, your earning potential is much greater than if 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 price, promotional cost, 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 sure you are conscious of the concept of passive income or residual income. Most probably, you have already been searching the Internet for best passive residual income ideas.

You might have thought about straight from the source creating one or a number of streams of passive income to live a comfortable life or make good savings. Whatever is your aim or the reason but you have not been really very successful 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 actual reason in the background, the good news is that this site gives you a few practical and well tried ways of generating passive residual income.

These notions have worked for others and can work for you also. Choose one or two 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's quite possible if you're consistent and persistent then over a time period you may build a substantial residual income. Dont be surprised is that this passive income amount exceeds your main income from your regular job 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 great readership of routine since new subscribers can give access 2 more than one source of passive income.