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Before we start, allow me to explain some of the terminologies of the passive income world. There are 2 kinds of passive income: Active 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 build a supply of residual income. Residual income is the type of income where you earn a monthly commission for the selling youve made.
For example, if a service 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 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 also you dont keep earning commissions from your 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 every sale. .
The greatest passive income stream is one which provides you both residual and busy income and so were going to speak 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 from one supply or a business that's getting the majority of its traffic and earnings 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 kill your entire business overnight.
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So 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 simplest passive income strategy, then we will dive deeper into building a business which pays big commissions daily.
The passive income plan Im about to discuss with you is utilized by companies like Amazon and Apple and its called affiliate marketing. In this strategy, an affiliate (you) will market a product using their own unique tracking link and when a sale is made, they will earn a cut, usually %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 application isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we will discuss soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will pay around $3,000 per purchase to affiliates. These are special programs that arent usually open for 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 post to deal with this issue in the online business world. If you follow some of the so-called YouTube professionals, all youll see is have a peek at this website that their luxury cars and horses which might give you the impression which you can start a simple affiliate marketing business and rake in $20,000 in a week.
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 back, 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 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 will need to discuss different business strategies because if you apply 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 make $20,000 a month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 earnings to attain your income goal.