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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 flows. Whether you are just starting your business, or you have been running it some time, 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 also a third sort of income that, while not passive, still 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 clients when they reorder merchandise every month.An aerobics instructor who produces a video and sells it at the gyms where she's teaches.A marketing consultant who produces a workbook and sells it 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 buys one of his pictures. .

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There are many different ways to generate residual income over a huge variety of businesses. It might be recurring income by the same clients or the sales of a product to new customers. It may require 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 client to remind them about their renewal.

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

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This frees the work of different people 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 that assembles 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 ultimate leveraged income). .

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Again, there are many different versions in many different businesses. The key is that you're making money from 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 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 much greater than if someone was just paying you a direct hourly fee. Fill in a room with 1,000 individuals paying $50 each and you can cover your facility price, promotional price, and staffing fees 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 already Visit Website been searching the Internet for best passive residual income thoughts.

You might have thought of creating one or a number of streams of passive income to live a comfortable life or make superior savings. Whatever is the goal or the reason but you have not been really very successful so far at creating a normal source of passive income. The reason could 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 gives you a few practical and well tried methods for generating passive residual income.

These notions have worked for many others and can work for you too. Choose one or two or more which match 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 good readership of regular since new subscribers can give access 2 more than one source of passive income.