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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're just starting your business, or you have been running it some time, the sooner you get started thinking about how you are 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 also a third sort of income that, although not passive, still is an integral 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 guide customers when they reorder product every month.An aerobics instructor who creates a video and sells it at the gyms where she teaches.A marketing consultant who creates a workbook and sells it in e-book arrangement on the Internet.A photographer who earns his photographs available through a stock photography clearinghouse and has paid a royalty whenever someone purchases one of his images. .

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

Note that this is different from recurring income that might still need your involvement to earn the income. By way of example, a mentor 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 in recurring work which limits on your earning ability based on your own personal production capacity. .

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This leverages the work of other folks to make 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 who 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're making money from other people's labor, rather than mainly your own. Note that leveraged income might or might not be residual income. When you combine them, that is even better.

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

Although these require your immediate participation, your earning potential is a lot greater than if 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 cost, promotional cost, 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 confident you are conscious of the concept of passive income or residual income. Most probably, you've been searching the Internet for best passive residual income thoughts.

You may have thought of creating one or several streams of passive income to live a comfortable life or create superior savings. Whatever is your aim or the reason but you have not been really quite successful so far at creating a regular source 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 site provides you a few practical you can try this out and well tried ways of generating passive residual income.

These ideas 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 have opted to work on them, then you certainly should not be any looking back.

It's quite possible if you are consistent and persistent then within a period of time 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 perhaps one of the most recommended ways of earning a passive income. Having a website which has great readership of routine since new readers can provide access two more than one source of passive income.