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Before we start, allow me to explain a few of the terminologies of the passive income globe. There are just two kinds of passive income: Active and Residual. If youre planning to make some serious money, youre going to need both of these 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 source of residual income. Residual income is the form of income where you earn a monthly commission for the selling youve made.
For instance, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any job. 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 staying and busy income is that busy passive income is a one-time compensation and you dont keep earning commissions from the purchase. It has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from each purchase. .
The best passive income stream is one that gives you both residual and active income and so were going to speak about a couple of approaches to make that kind of incomes online.
The number 1 is your most dangerous number in the world of business. Building a passive income stream that pays you from one source or a business that's getting the majority of its traffic and earnings from one stage can be terribly 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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Before we dip down into the world of passive income opportunities, let me give you a list of things Im going to teach you here:
Im going to get started with the easiest passive income strategy, then we'll dive deeper into building a business which pays big commissions daily.
The passive income plan Im going to share with you is used 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 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 nowadays, Amazons affiliate program isnt the hottest one. Normally, affiliates earn 50% commissions on try this site sites like Clickbank (which we will talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will pay around $3,000 per sale to affiliates. All these are special applications that arent usually open to everyone. We'll explore different top ticket affiliate applications as we move down into this report.
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I could write an entire article to deal with this problem in the online business world. If you follow a few of the so-called YouTube professionals, all youll see is their luxury cars and horses which may provide 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 some time but with the right approach, your journey wont be as painful as mine was. When I started my online business 6 years back, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months for a $25 commission, but 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 news over different business strategies because if you apply the strategies that Im planning to share here, you can go well beyond the $20,000 a month goal in no time.
In order to make $20,000 per month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An average network such as Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to attain your income goal.
Its important to know what Im going to educate here will make a massive difference in how far you will be making in future so make sure you read this very carefully.