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Before we start, let me explain some of the terminologies of this passive income globe. There are 2 types of passive income: Active and Residual. If youre planning to make some serious money, youre going to need both of them together.
Residual Passive Income: This kind of income is one of the secrets to success in your online business and can be powerful if you manage to construct a supply of residual income. Residual income is the type of income in which you earn a monthly commission for the selling youve made.
For instance, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any job. About 30% of Aversity Gold Masterclass members earn residual incomes from goods theyve sold.
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Active Passive Income: This is the type of money you earn by selling a product, or even a service. The main difference between staying and busy income is that active passive income is a one-time compensation and also you dont keep earning commissions from your purchase. This has its own pros and cons which Im not going to get into, but it all depends on how much money youll earn from each sale. .
The best passive income stream is one that provides you both residual and busy income and so were going to speak about a couple of approaches to create that kind of incomes online.
The number 1 is the most dangerous number in the realm of business. Building a passive income stream that pays you in one supply or a business that's getting the majority of its traffic and sales from one stage can be extremely dangerous. It will leave your business in a vulnerable position and a sudden shift in a search engine or an advertising platform can kill your entire business overnight.
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So before we dip down into the world of passive income opportunities, let me give you a listing of things Im going to teach you here:
Im going to begin with the simplest passive income strategy, then we will dive deeper into building a business which pays you big commissions every day.
The passive income plan Im about to discuss with you is utilized by companies like Amazon and Apple and its own affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own unique tracking link and when a sale is made, they will earn a reduction, usually percent 5 to 50 percent depending on the product and the company selling that product. .
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The affiliate marketing was popularized by Amazon but these days, Amazons affiliate application isnt the hottest one. Usually, affiliates earn 50% commissions on sites like Clickbank (which we'll discuss soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will pay around $3,000 per sale to affiliates. All these are special programs that arent usually open for everyone. We will explore different top ticket affiliate applications as we move down into this find out here report.
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I could write an entire article to address this issue in the online business world. If you follow some of those so-called YouTube gurus, all youll see is that their luxury cars and horses which may provide you the impression that you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the ideal strategy, your journey wont be as painful as mine was. When I began my online business 6 years ago, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months for a $25 commission, but that I dont want you to think itll be quick.
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To answer the long terms question: Just how much money you can earn in 6 months, I'll need to discuss different business strategies because if you apply the approaches that Im planning to share here, you can go well beyond the $20,000 per month goal in no time.
In order to make $20,000 a month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to attain your income objective.
