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Before we start, let me explain some of the terminologies of the passive income globe. There are 2 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 secrets to success in your online business and can be powerful if you manage to construct 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 a service pays $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any job. 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 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 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 purchase. .
The best passive income stream is one that 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 your 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 sales 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 ad platform can destroy your entire business overnight.
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Before we dive down into the world of passive income opportunities, let me give you a listing of things Im going to teach you :
Im going to begin using the simplest passive income strategy, then we'll dive deeper into building a business that pays big commissions daily.
The passive income plan Im about to discuss with you is used my site by companies like Amazon and Apple and its affiliate marketing. In this strategy, an affiliate (you) will market a product using their own special tracking link and when a purchase is made, they will earn a cut, typically %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 these days, Amazons affiliate program isnt the most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (that we'll discuss soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate applications for example Aversity will cover around $3,000 per purchase to affiliates. These are special programs that arent usually open to everyone. We will explore different high ticket affiliate programs as we move down into this article.
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I could write an entire article to deal with this issue in the online business world. If you follow some of the so-called YouTube professionals, all youll see is that their luxury cars and horses which might give you the impression that 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 approach, your journey wont be as painful as mine was. When I began my online business 6 decades ago, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months for a $25 commission, but that I dont want you to think itll be fast.
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To answer the long term question: How much money you can earn in 6 months, I'll need to discuss different business strategies since if you use the strategies that Im planning to share here, you can go well beyond the $20,000 per month goal in no time.
In order to earn $20,000 a month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An normal network such as Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 sales to achieve your income goal.
