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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: Lively 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 powerful if you manage to build a supply of residual income. Residual income is the type of income in which you earn a monthly commission for the selling 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 work. About 30 percent 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 staying and active income is that busy passive income is a one-time compensation and you dont keep earning commissions from your sale. This has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from every purchase. .
The best passive income stream is one that provides you both residual and active 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 world of business. Building a passive income stream that pays you from one supply or a business that's getting most of its traffic and sales 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, Allow Me to give you a list of things Im going to teach you here:
Im going to begin with the easiest passive income strategy, then we'll dive deeper into building a business that pays big commissions daily.
The passive income plan Im going to discuss with you is utilized by companies like Amazon and Apple and its own 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 cut, usually %5 to 50% 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 program isnt the most popular one. Normally, affiliates earn 50% commissions on websites like Clickbank (that we'll discuss soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications for example Aversity will pay up to $3,000 per purchase to affiliates. These are special programs that arent generally open for everyone. We'll explore different high ticket affiliate programs as we proceed down into this article.
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I could write an Check This Out entire article look at these guys to deal with this issue in the online business world. If you stick to some of those so-called YouTube gurus, all youll see is that their luxury cars and horses which may give you the impression which you can begin 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 decades back, 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 that I dont want you to think itll be quick.
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To answer the long term question: How much money you can earn in 6 months, I will need to go over different business strategies because in the event that you use the strategies that Im about 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'll need to earn $20,000 in commissions by an affiliate network. An normal network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to achieve your income objective.
