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Before we start, allow me to explain a few of the terminologies of the passive income globe. There are just two kinds of passive income: Lively and Residual. If youre planning to make some serious money, youre going to need both of these together.
Residual Passive Income: This kind of income is one of the keys to success in your online business and can be powerful if you manage to construct a source of residual income. Residual income is the type of income in which you earn a monthly commission for the sale youve made.
By way of example, if an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any work. Approximately 30% of Aversity Gold Masterclass members earn residual incomes from products theyve sold.
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Active Passive Income: This is the kind of money you earn by selling a product, or a service. The main difference between residual and busy 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 best passive income stream is one which gives you both residual and busy income and were going to talk about a couple of ways to make that kind of incomes online.
The number 1 is your very dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that is getting most of its visitors 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 ad platform can destroy your entire business overnight.
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Before we dive down into the world of passive income opportunities, let me give you a list of things Im going to teach you :
Im going to begin with the simplest passive income strategy, then we'll 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 affiliate marketing. In this approach, an affiliate (you) will market a product using their own unique tracking link and when a sale is made, they will earn a reduction, straight from the source 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 program 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 applications like Aversity will cover up to $3,000 per sale to affiliates. All these are special applications that arent usually resource open to everyone. We'll explore different high ticket affiliate programs as we proceed down into this article.
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I could write an entire post to address this problem in the online business world. If you follow some of those so-called YouTube gurus, all youll see is their luxury cars and horses which might provide you the impression that you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes some 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 initial $25 commission. Im not asking you to operate 9 months for a $25 commission, but I dont want look at more info you to think itll be fast.
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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 if you use the approaches that Im planning to discuss here, you can go well beyond the $20,000 a month goal in no time.
In order to earn $20,000 a month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An average network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings to achieve your income objective.