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Before we begin, allow me to explain a few of the terminologies of this passive income world. There are 2 kinds of passive income: Active 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 successful 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 sale youve made.
For instance, if an agency pays $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any work. About 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 staying 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 each purchase. .
The greatest passive income flow is one which gives you both residual and active income and so were going to speak about a few ways to make that kind of incomes online.
The number 1 is your very dangerous number in the realm of business. Building a passive income stream that pays you in one source or a business that's 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 advertising platform can destroy 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 begin using the simplest passive income plan, then we'll dive deeper into building a business which pays you big commissions every day.
The passive income plan Im going to discuss with you is used by companies like Amazon and Apple and its own called affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own special tracking link and when a purchase is made, they will earn a reduction, typically 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 these days, Amazons affiliate application isnt the hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we will talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will pay up to $3,000 per purchase to affiliates. These are special programs that arent generally open to everyone. We will explore different top ticket i thought about this affiliate applications as we proceed down into this report.
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I could write an entire post to deal with this issue in the online business world. If you follow a few of the so-called YouTube gurus, all youll see is their luxury cars and horses which may give you the impression which you can begin a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes time but with the right approach, your journey wont be as painful as mine was. When I started my online business 6 decades ago, it took me 9 months to earn my first $25 commission. Im not asking you to operate 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 terms question: How much money you can earn in 6 months, I will need to discuss different business strategies since if you apply 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 per month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to achieve your income objective.
