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Before we begin, let me explain a few of the terminologies of this passive income globe. There are just two types 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 kind of income is one of the secrets to success in your online business and can be powerful if you manage to build a source of residual income. Residual income is the type of income where you earn a monthly commission for the sale youve made.
By way of example, if a service pays you $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any work. Approximately 30 percent of Aversity Gold Masterclass members earn residual incomes from products 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 staying and busy income is that active passive income is a one-time compensation and also you dont keep earning commissions from the purchase. 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 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 very dangerous number in the world of business. Building a passive income stream that pays you in one source or a business that's getting the majority of its traffic and earnings from one platform can be terribly dangerous. It will leave your business in a vulnerable position and a sudden shift in a search engine or an advertising platform can kill your entire business overnight.
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So before we dive down into the world of passive income opportunities, Allow Me to give you a listing of things Im going to teach you here:
Im going to get started with the easiest passive income plan, then we'll dive deeper into building a business that pays you big commissions daily.
The passive income strategy Im about to discuss with you is used by companies like Amazon and Apple and its own 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 percent 5 to 50 percent 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 sites like Clickbank (that we will talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications like Aversity will pay up to $3,000 per sale to affiliates. These are specific applications that arent generally 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 post to address this issue in the online business world. If you follow a few of those so-called YouTube gurus, 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 time but with the ideal 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 to get a $25 commission, but that 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 go over different business strategies because if you apply the strategies that Im about to discuss here, you can go well beyond the $20,000 per month target in no time.
In order to earn $20,000 a month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An normal network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings my latest blog post to achieve your income goal.
