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If you want to earn more, work less, and have a comfortable retirement, it is important to begin creating passive income streams. Whether you're just starting your business, or you've been running it a while, the sooner you start thinking about how you're 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 a third sort of income that, while not passive, nevertheless is a key strategy for earning more and working less.

An insurance agent who gets a commission annually when a client renews his policy.A network marketing or direct sales rep's income from her guide clients when they reorder merchandise every month.An aerobics instructor that produces a movie and sells it in the gym at which she's teaches.A marketing consultant who produces a workbook and sells it all in e-book format on the Internet.A photographer who makes his photographs available via a stock photography clearinghouse and has paid a royalty whenever someone buys one of his images. .

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There are many different strategies to generate residual income over a huge variety of businesses. It may be recurring income from the same clients or the earnings of a product to new clients. It could necessitate no personal involvement whatsoever, such as an e-book offered on a web site, or it may need some personal interaction, such as the insurance agent calling the client to remind them about their renewal.

Note that this is different from recurring income which may still require your involvement to earn your income. For example, a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to 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 ability. .

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

An e-book writer selling her e-book through associates that promote the product.A network marketer 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 work done by subcontractors.Franchising your business model to 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 making money off of other people's labour, rather than mainly your own. Note that leveraged income might or might not be residual income. When you combine them, that is even better.

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

Although these need your immediate participation, your earning potential is a lot higher than if someone was just paying you a direct hourly fee. Fill a room with 1,000 individuals paying $50 each and you can pay for 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 sure that 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 thoughts.

You might have thought of creating one or several streams of passive income to live a comfortable life or create superior savings. Whatever is the aim or the reason but you have not been really quite successful so far at creating a normal source of passive income. The reason could be that you do not think it's 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 methods for generating passive residual income.

These ideas have worked for many others and can work for you too. Choose one or 2 or more which suit your interest, experience my company 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. 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 regular as new readers can give access 2 more than one source of passive income.