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Your paycheck isn't the only means to make money! Check out our extensive collection of great passive income ideas to start making cash on the side straight away.

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If you don't want to continue working 50 or more hours per week for the remainder of your life, consider building your sources of passive income. Until you can remove yourself by being involved in doing the work that generates income, there is always going to be a limit to how much you can earn, and it can increase only very gradually. .

Passive income, on the other hand, is income that does not require your direct involvement. Rental properties, royalties on an invention or creative work, and network marketing are common examples.

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 a while, the sooner you start thinking about how you are going to change your business design to create more passive income, the sooner you can achieve personal and financial freedom. .

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There are two basic types of passive income and also a third sort 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 client 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 who produces a video and sells it in the gym at which she teaches.A marketing consultant who produces a workbook and sells it all in e-book arrangement on the Internet.A photographer who makes his photos available through a stock photography clearinghouse and has paid a royalty whenever someone buys one of his pictures. .

There are many different ways to generate residual income across a huge array of businesses. It might be recurring income from the very same customers or the sales of a product to new clients. It could require no personal involvement whatsoever, such as an e-book sold on a website, or it may need some personal interaction, such as the insurance agent calling the client to remind them regarding their renewal.

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Note that this is different from recurring income that might still require your involvement to earn your income. By way of instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday into the local school board has recurring income, however it comes in recurring work that restricts on your earning capacity based on your own personal production capacity. .

This frees the work of other people to make income for you. A Few Examples of leveraged income include:

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An e-book writer selling her e-book through associates who promote the product.A network marketer who assembles a downline and receives commissions on the sales made by people in his downline.A general contractor who makes a profit margin on the job done by subcontractors.Franchising your business model to other entrepreneurs (the ultimate leveraged income). .

Again, there are many different models in many different businesses. The key is that you're making money off of 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, go to website 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:

Although these require your direct participation, your earning potential is much greater than when someone was paying you a direct hourly fee. Fill a room with 1,000 individuals paying $50 each and you can cover your facility cost, promotional price, and staffing prices and still have a nice chunk of change left over. .

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When it comes to making money and earning an income, as with most things I think it is important that you first attempt to educate yourself about your options and what they really mean. For many people when they think income they think of linear types of income like say getting a job or selling belongings.