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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 flows. Whether you are just starting your business, or you've been running it a while, the sooner you start thinking about how you are going to change your business model 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 which, although not passive, still is a key approach for earning more and working less.

An insurance agent who gets 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 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 earns his photos available through a stock photography clearinghouse and has paid a royalty whenever someone buys one of his images. .

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There are many different ways to generate residual income over a huge variety of businesses. It may be recurring income by the very same clients or the earnings of a product to new customers. It could require no personal involvement whatsoever, like an e-book offered on a website, or it may require some personal interaction, such as the insurance agent calling the customer to remind them regarding their renewal.

Note that this is different from recurring income which may still require your involvement to earn the income. By way of 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, however it comes from recurring work that limits on your earning capacity based on your own personal production capacity. .

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This leverages the work of different people to make income for you. Some examples of leveraged income include:

An e-book writer selling her e-book through affiliates 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 job done by subcontractors.Franchising your business model into 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 from other people's labour, rather than primarily your own. Note that leveraged income might or might not also be residual income. When you combine them, that's 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 require your immediate participation, your earning potential is much greater than when someone was just paying you an immediate hourly rate. Fill 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're in the Internet business, then I am sure More hints you are conscious of the concept of passive income or residual income. Most probably, you have already been searching the Internet for the best passive residual income thoughts.

You might have thought about creating one or a number of streams of passive income to live a comfortable life or make good savings. Whatever is the goal or the reason but you have not been really quite powerful so far at creating a normal source 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 blog provides you a few practical and well tried ways 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've opted to work on these, then there should not be any looking back.

It is 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 website that has great readership of regular as new readers can give access 2 more than one source of passive income.