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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 a while, the sooner you get started thinking about how you are going to shift 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 a third type of income that, while not passive, still is an integral strategy for earning more and working less.

An insurance agent who gets a commission every year when a client 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 at the gyms where she teaches.A marketing consultant who produces a workbook and sells it all in e-book format on the Internet.A photographer who makes his photos available via 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 array of businesses. It might be recurring income from the same clients or the earnings of a product to new clients. It may necessitate no personal involvement whatsoever, such as an e-book offered on a website, or it can need some personal interaction, like the insurance agent calling the client to remind them regarding their renewal.

Note that this is different from recurring income which may still need your involvement to earn the income. For example, a coach 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 that limits on your earning capacity based on your own personal production ability. .

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This leverages the work of other folks to make 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 job done by subcontractors.Franchising your business model into 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 off of other people's labor, rather than mainly your own. Note that leveraged income may or may not also be residual income. When 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 require your direct participation, your earning potential is a lot higher than when someone was paying you a direct hourly rate. Fill a room with 1,000 people paying $50 each and you can cover 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 that you are conscious of the concept of passive income or residual income. Most probably, you've been searching the Internet for the best passive residual income thoughts.

You may have thought about creating one or several streams of passive income to live a check that 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 YOURURL.com a normal source of passive income. The reason could be that you do not think it's true.

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Whatever is the actual reason in the background, the good news is that this site provides 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. Pick one or 2 or more which match your interest, experience and background. Once you've opted to work on these, then you certainly should not be any looking back.

It's fairly possible if you are consistent and persistent then over 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 occupation 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 good readership of regular as new subscribers can provide access two more than one source of passive income.