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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'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 model to create more passive income, the sooner you can attain personal and financial freedom. .

There are two basic types of passive income and a third type of income that, although not passive, nevertheless is a key approach for earning more and working less.

An insurance agent who receives 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 that 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 format on the Internet.A photographer who makes his photos available through a stock photography clearinghouse and gets 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 array of businesses. It may be recurring income by the same clients or the sales of a product to new customers. It could require no personal involvement whatsoever, such as an e-book offered on a website, or it can require some personal interaction, like the insurance agent calling the customer to remind them about their renewal.

Note that this is different from recurring income that might still require your involvement to earn the income. By way of example, a coach or consultant on a monthly retainer, or a caterer who delivers lunch each Monday to the local school board has recurring income, however it comes from recurring work that limits on your earning ability based on your own personal production capacity. .

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

An e-book author selling her e-book through associates that promote the product.A network marketer who 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 work done by subcontractors.Franchising your business model into 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 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 you combine them, that is even better.

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

Although these need your direct participation, your earning potential is much higher than when someone was paying you a direct hourly fee. Fill in a room with 1,000 individuals paying $50 each and you can pay for your facility price, promotional cost, and staffing fees 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 that you are aware of the concept of passive income or residual income. Most likely, you have already been searching the Internet for best passive residual income thoughts.

You may have thought of creating one or several streams more of passive income to live a comfortable life or create good savings. Whatever is your goal or the reason but you have not been really quite powerful so far at creating a regular source of passive income. The reason could be that you do not think it is true.

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

These ideas have worked for others and can work for you too. Pick one or two or more which suit your interest, experience and background. Once you've opted to work on these, then you certainly should not be any looking back.

It is quite possible if you're 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 job or business.

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This is maybe one of the most recommended ways of earning a passive income. Having a blog that has great readership of routine as new subscribers can give access two more than one source of passive income.