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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 are just starting your business, or you've been running it a while, the sooner you start thinking about how you're going to shift 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, although 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 merchandise every month.An aerobics instructor who creates a video and sells it in the gym at which she's teaches.A marketing consultant who creates a workbook and sells it in e-book format on the Internet.A photographer who earns his photographs 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 customers or the sales of a product to new customers. It may necessitate no personal involvement in any respect, 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 your income. By way of example, a mentor 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 which restricts on your earning capacity based on your own personal production capacity. .

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

An e-book author 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 work 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 off of other people's labor, rather than primarily your own. Note that leveraged income may or may not be residual income. When you combine them, that's 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:

Though these need your immediate participation, your earning potential is much higher than when someone was paying you an immediate hourly fee. Fill a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional cost, and staffing prices and 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 aware of the concept of passive income or residual income. Most probably, you have already been searching the Internet for best passive residual income thoughts.

You may have thought of creating one why not try this out or a number of streams 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 successful so far at creating a regular source of passive income. The reason might be that you do not think it is true.

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Whatever is the actual reason in the background, the good news is that this blog gives 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. Choose one or 2 or more which match your interest, experience and background. Once you have decided to work on these, then you certainly 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 job or business.

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This is maybe one of the most recommended ways of earning a passive income. Having a blog which has good readership of regular as new readers can provide access two more than one source of passive income.