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Before we begin, let me explain a few of the terminologies of the passive income globe. There are 2 kinds of passive income: Lively and Residual. If youre planning to make some serious money, youre going to need both of these together.
Residual Passive Income: This kind of income is one of the keys to success in your online business and can be successful 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 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 products theyve sold.
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Active Passive Income: This is the type of money you earn by selling a product, or a service. The main difference between residual and active income is that active 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 greatest passive income flow is one which provides you both residual and busy income and were going to talk about a couple of approaches to create 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 in one supply or a business that is getting most 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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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 here:
Im going to begin with the simplest passive income strategy, then we will dive deeper into building a business which pays you big commissions every day.
The passive income plan Im about to share 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 cut, typically %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 most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we'll discuss soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate programs like Aversity will pay around $3,000 per sale to affiliates. These are specific applications that arent generally open to everyone. We will explore different top ticket affiliate applications as we move down into this article.
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I could write an entire article to address this problem in the online business world. If you stick to a few of those so-called YouTube professionals, all youll see is their luxury cars and horses which might 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 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 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 if you use the strategies that Im about to discuss here, you can go well beyond the $20,000 per month goal in no time.
In order to make $20,000 a imp source month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to attain your income objective.
