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Before we start, allow me to explain a few of the terminologies of this passive income globe. There are just two kinds of passive income: Active and Residual. If youre planning to earn some serious money, youre going to need both of them together.
Residual Passive Income: This type of income is one of the keys to success in your online business and can be successful if you manage to construct a supply of residual income. Residual income is the form of income where you earn a monthly commission for the selling youve made.
By way of example, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any work. 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 a service. The main difference between staying and active income is that busy 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 every sale. .
The greatest passive income stream is one which provides you both residual and busy income and were going to speak about a few ways to create that kind of incomes online.
The number 1 is your most dangerous number in the world of business. Building a passive income stream that pays you from one source or a business that's getting the majority of its traffic and earnings from one platform can be terribly 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, Allow Me to give you a list of things Im going to teach you :
Im going to get started using the easiest passive income plan, then we'll dive deeper into building a business that pays big commissions every day.
The passive income strategy Im about to share with you is used by companies like Amazon and Apple and its called affiliate marketing. In this approach, an affiliate (you) will market a product using their own special tracking link and when a sale is made, they will earn a reduction, usually percent 5 to 50% depending on the product and the company selling that product. .
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The affiliate marketing was popularized by Amazon but nowadays, Amazons affiliate application isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (which we will discuss soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate he said programs like Aversity will pay up to $3,000 per sale to affiliates. These are specific programs that arent generally open for everyone. We will explore different high ticket affiliate applications as we proceed down into this article.
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I could write an entire article to deal with this problem 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 which you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the right 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 to get a $25 commission, but 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 go over different business strategies because in the event that you use the approaches that Im about to share here, you can go well beyond the $20,000 a month goal in no time.
In order to make $20,000 per month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An normal network like Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 sales to attain your income objective.
