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Before we begin, allow me to explain a few of the terminologies of the 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 type of income is one of the keys to success in your online business and can be powerful if you manage to build a supply of residual income. Residual income is the form of income in which you earn a monthly commission for the sale youve made.
By way of example, if an agency pays $25 in residual commissions, referring 100 individuals will make you $2,500 a 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 type of money you earn by selling a product, or even a service. The main difference between staying and active income is that busy passive income is a one-time compensation and 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 that provides you both residual and active income and so were going to talk about a couple of approaches to make that kind of incomes online.
The number 1 is your most dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that's getting the majority 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 dive down into the world of passive income opportunities, Allow Me to give you a listing of things Im going to teach you :
Im going to get started with the simplest passive income plan, then we'll dive deeper into building a business which pays you big commissions every day.
The passive income strategy Im about to discuss with you is used by companies like Amazon and Apple and its called affiliate marketing. In this approach, an affiliate (you) will market a product using their own unique tracking link and when a purchase is made, they will earn a reduction, typically %5 to 50 percent 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 Going Here application isnt the most popular one. Normally, affiliates earn 50% commissions on sites 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 cover around $3,000 per purchase to affiliates. All these are specific applications that arent generally open to everyone. We'll explore different top ticket affiliate applications as we proceed down into this report.
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I could write an entire post to deal with this problem in the online business world. If you stick to some of those 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 began my online business 6 years back, 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 fast.
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To answer the long terms 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 share here, you can go well beyond the $20,000 per month goal in no time.
In order to make $20,000 per 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. If you earn $25 on average per purchase, youll need Resources 800 earnings to attain your income goal.
