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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 streams. Whether you are just starting your business, or you've 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 attain personal and financial freedom. .

There are two main kinds of passive income and also a third sort of income that, although not passive, nevertheless is an integral 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 guide clients when they reorder product every month.An aerobics instructor that creates a movie and sells it at the gym at which she teaches.A marketing consultant who creates a workbook and sells it in e-book format on the Internet.A photographer who makes 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 across a huge array of businesses. It might be recurring income from the same clients or the earnings of a product to new clients. It could require no personal involvement in any respect, such as an e-book sold on a web site, or it may need some personal interaction, like 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 mentor or consultant on a monthly retainer, or a caterer who delivers lunch each Monday into the local school board has recurring income, but it comes in recurring work which 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. Some examples of leveraged income include:

An e-book author selling her e-book through affiliates that promote the product.A network marketer that 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 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 from other people's labor, rather than primarily your more own. Note that leveraged income may or may not also be residual income. When you combine them, that is even better.

This sort of income requires your immediate participation, but you can make more money by having more people involved. This generally involves a one-time event, for example:

Though these need your immediate participation, your earning potential is a lot greater than when someone was paying you an immediate hourly fee. Fill a room with 1,000 people 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're in the Internet business, then I am confident that you are conscious of the concept of passive income or residual income. Most probably, you have been searching the Internet for best passive residual income thoughts.

You may have thought about creating one or several streams of passive income to live a comfortable life or create superior savings. Whatever is YOURURL.com the goal or the reason but you have not been really quite powerful so far at creating a regular supply of passive income. The reason might be that you do not believe it is 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 methods for generating passive residual income.

These notions have worked for many others and can work for you also. Choose one or two or more which match your interest, experience and background. Once you've decided to work on these, then you certainly should not be any looking back.

It's quite possible if you're consistent and persistent then over a time period you will build a substantial residual income. Dont be surprised is that 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 which has great readership of regular as new readers can give access 2 more than one source of passive income.