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Before we begin, let me explain a few of the terminologies of this passive income world. There are just two types of passive income: Lively and Residual. If youre planning to earn some serious money, youre going to need both of these together.
Residual Passive Income: This kind of income is one of the secrets to success in your online business and can be successful if you manage to build 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 a service pays $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 even a service. The main difference between residual and busy income is that active passive income is a one-time compensation and you dont keep earning commissions from the 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 purchase. .
The greatest passive income stream is one which gives you both residual and active income and so were going to talk about a few approaches to create 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 supply or a business that is getting the majority of its visitors and sales 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 destroy 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 with the simplest passive income strategy, then we'll dive deeper into building a business that pays you big commissions daily.
The passive income plan Im going to share with you is used by companies like Amazon and Apple and its affiliate marketing. In this strategy, an affiliate (you) will promote a product using see this here their own special tracking link and when a purchase is made, they will earn a cut, usually %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 most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we will talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will cover up to $3,000 per purchase to affiliates. These are specific applications that arent generally open to everyone. We will explore different top ticket affiliate programs as we proceed down into this report.
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I could write an entire article to deal with this issue in the online business world. If you stick to some of the so-called YouTube professionals, all youll see is their luxury cars and horses which might provide you the impression that you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the ideal approach, 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 that 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 will need to discuss different business strategies since in the event that you use the approaches that Im planning to share here, you can go well beyond the $20,000 a month goal in no time.
In order to make my response $20,000 per 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. Should you earn $25 on original site average per sale, youll need 800 sales to attain your income objective.
