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Before we start, let me explain a few of the terminologies of the passive income globe. There are 2 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 secrets to success in your online business and can be powerful if you manage to construct a source of residual income. Residual income is the form of income where 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 people will make you $2,500 per month without doing any job. Approximately 30% of Aversity Gold Masterclass members earn residual incomes from goods theyve sold.
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Active Passive Income: This is the kind of money you earn by selling a product, or even 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 the sale. 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 greatest passive income stream is one that provides you both residual and busy income and so were going to speak about a few ways to create that kind of incomes online.
The number 1 is your very 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 traffic 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 destroy your entire business overnight.
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Before we dip down into the world of passive income opportunities, Allow Me to give you a listing of things Im going to teach you :
Im going to begin using the easiest passive income strategy, then we will dive deeper into building a business that pays you big commissions every day.
The passive income plan 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 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 program isnt the hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (that we will talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will pay around $3,000 per sale to affiliates. These are specific applications that arent usually open for everyone. We will explore different high ticket affiliate programs as we proceed down into this report.
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I could write an entire article to address this issue read this post here in the online business world. If you follow some of those so-called YouTube professionals, all youll see is 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 a week.
Building an online business takes some time but with the ideal strategy, 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 first $25 commission. Im not asking you to operate 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: How much money you can earn in 6 months, I will need to go over different business strategies since if you use the approaches that Im about to share here, you can go well beyond the $20,000 per 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 normal network like Clickbank pays $10 to $100 a sale. If you earn this website $25 on average per sale, youll need 800 sales to achieve your income goal.
