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Before we begin, let me explain some of the terminologies of this passive income world. There are 2 kinds of passive income: Lively and Residual. If youre planning to earn 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 construct a source of residual income. Residual income is the type of income where you earn a monthly commission for the selling youve made.
By way of instance, if an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any work. About 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 a service. The main difference between residual and active income is that active passive income is a one-time compensation and also you dont keep earning commissions from the sale. It has its own pros and cons which Im not going to get into, but it all depends on how much money youll earn from each purchase. .
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 ways 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 source or a business that is getting most of its traffic and earnings from one stage 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 kill your entire business overnight.
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Before we dip 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 using the simplest passive income strategy, then we'll dive deeper into building a business which pays you big commissions every day.
The passive income strategy Im about to share with you is utilized by companies like Amazon and Apple and its affiliate marketing. In this approach, an affiliate (you) will promote a product using their own unique tracking link and when a sale is made, they will earn a reduction, 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 most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (that we will discuss soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will cover around $3,000 per sale to affiliates. These are specific applications that arent usually open to everyone. We will explore different high ticket affiliate programs as read this article we proceed down into this report.
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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 gurus, all youll see is that their luxury cars and horses which might provide you the impression which you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
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 ago, it took me 9 months to earn my initial $25 commission. Im not asking you to operate 9 months for a $25 commission, but 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 go over different business strategies since in the event that you use the approaches that Im about to share here, you can go well beyond the $20,000 a month target in no time.
In order to make $20,000 a month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An average network such as Clickbank pays $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 sales to achieve your income goal.
