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Before we start, allow me to explain a few of the terminologies of this passive income globe. There are 2 kinds of passive income: Lively and Residual. If youre planning to make some serious money, youre going to need both of them together.
Residual Passive Income: This type 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 form of income where you earn a monthly commission for the selling youve made.
For example, if an agency pays you $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any work. Approximately 30 percent 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 residual and active income is that active passive income is a one-time compensation and also you dont keep earning commissions from your purchase. It 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 purchase. .
The best passive income stream is one which gives you both residual and busy income and so were going to talk about a few approaches to create that kind of incomes online.
The number 1 is the most dangerous number in the world of business. Building a passive income stream that pays you in one supply or a business that is getting most of its visitors and earnings from one platform 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 kill your entire business overnight.
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So 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 using the simplest passive income strategy, then we will dive deeper into building a business that pays big commissions every day.
The passive income strategy Im about to share with you is utilized by companies like Amazon and Apple and its called affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own special tracking link and when a sale is made, they will earn a reduction, usually percent 5 to 50 percent depending on the solution 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. Normally, affiliates earn 50% commissions on websites like Clickbank (which we'll talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications like Aversity will pay up to $3,000 per purchase to affiliates. All these are special programs that arent usually open to everyone. We'll explore different top ticket affiliate programs as we move 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 the so-called YouTube gurus, all youll see is their luxury cars and horses which might give you the impression that you can start a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes some time but with the navigate here ideal approach, your journey wont be as painful as mine was. When I began my online business 6 years back, it took me 9 months to earn my initial $25 commission. Im not asking you to operate 9 months to get a $25 commission, but that I dont want you to think itll be fast.
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To answer the long term 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 about to share here, you can go well beyond the $20,000 a month target in no time.
In order to earn $20,000 per month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An average network such as Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to achieve your income goal.
