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Before we start, let me explain some of the terminologies of the passive income world. There are 2 kinds of passive income: Lively and Residual. If youre planning to make some serious money, youre going to need both of them 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 supply of residual income. Residual income is the form of income where you earn a monthly commission for the sale youve made.
For example, if a service pays $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any work. About 30 percent of Aversity Gold Masterclass members earn residual incomes from products 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 residual and active income is that busy passive income is a one-time compensation and also 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 every purchase. .
The best passive income flow is one which provides you both residual and active income and were going to speak about a few approaches to create that kind of incomes online.
The number 1 is the 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 the majority 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 advertising platform can destroy your entire business overnight.
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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 :
Im going to begin with the simplest passive income strategy, then we'll dive deeper into building a business which pays you big commissions daily.
The passive income plan Im about to discuss with you is utilized by companies like Amazon and Apple and its 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 reduction, usually percent 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 application isnt the hottest one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we will talk about soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will cover up to $3,000 per sale to affiliates. These are specific applications that arent generally open for everyone. We'll explore different top ticket affiliate programs as we proceed down into this report.
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I could write an entire post to address this issue in the online business world. If you stick to a few of the so-called YouTube professionals, all youll see is their luxury cars and horses which may give you the impression that you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes some time but with the ideal strategy, your journey wont be as painful as mine was. When I started my online business 6 decades back, it took me 9 months to earn my initial $25 commission. Im not asking you this content to operate 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 terms question: How much money you can earn in 6 months, I will need to discuss different business strategies because if you use the approaches that Im planning to discuss here, you can go well beyond the $20,000 per month goal in no time.
In order to earn $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. If you earn $25 on average per sale, youll need 800 earnings to attain your income objective.
