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If you want to earn more, work less, and have a comfortable retirement, it's important to start creating passive income flows. Whether you're just starting your business, or you have been running it some time, the sooner you get started thinking about how you're going to change 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 a third type of income which, while not passive, still is a key approach 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 direct customers when they reorder product every month.An aerobics instructor who produces a video and sells it in the gym at which she's teaches.A marketing consultant who creates a workbook and sells it all in e-book arrangement on the Internet.A photographer who makes his photos 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 ways to generate residual income over a wide variety of businesses. It may be recurring income from the very same customers or the sales of a product to new clients. It may require 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 that might 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 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 people to create income for you. Some examples of leveraged income include:

An e-book writer selling her e-book through affiliates who 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 versions in many different businesses. The key is that you are making money from other people's labor, rather than primarily your own. Note that leveraged income may or may not also be residual income. When try this website you combine them, that's 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 a lot higher than if someone was just paying you an immediate hourly fee. Fill a room with 1,000 individuals paying $50 each and you can pay for your facility price, promotional price, 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 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 create superior savings. Whatever is the goal or the reason but you have not been really quite successful so far at creating a regular supply of passive income. The reason could be that you do not think it's true.

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Whatever is the real reason in the background, the fantastic news is that this blog gives you a few practical and well tried methods of generating passive residual income.

These ideas have worked for others and can work for you too. Choose one or two or more which match your interest, experience and background. Once you have opted to work on these, then you certainly should not read what he said be any looking back.

It is quite possible if you are consistent and persistent then over 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 since new subscribers can give access 2 more than one source of passive income.