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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 them together.
Residual Passive Income: This type of income is one of the secrets to success in your online business and can be successful if you manage to build a supply of residual income. Residual income is the form of income where you earn a monthly commission for the selling youve made.
By way of example, if a service 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 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 also 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 each sale. .
The best passive income stream is one that gives you both residual and active income and so were going to speak about a few 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 in one source or a business that's getting most 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 advertising platform can destroy 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 here:
Im going to begin with the easiest passive income strategy, then we will dive deeper into building a business which pays you big commissions daily.
The passive income plan Im about to share with you is used by companies like Amazon and Apple and its own called affiliate marketing. In this strategy, an affiliate (you) will market a product using their own unique tracking link and when a purchase is made, they will earn a reduction, usually percent 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 nowadays, Amazons affiliate program isnt the most popular one. Usually, affiliates earn 50% pop over to these guys commissions on websites like Clickbank (that we'll discuss soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will pay around $3,000 per purchase to affiliates. All these are special programs that arent usually open to everyone. We will explore different top ticket affiliate applications as we move down into this article.
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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 try these out of the so-called YouTube gurus, all youll see is their luxury cars and horses which may give 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 right approach, your journey wont be as painful as mine was. When I started my online business 6 decades 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 quick.
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To answer the long term question: How much money you can earn in 6 months, I'll need to go over different business strategies since if you use the approaches that Im about to discuss here, you can go well beyond the $20,000 per month goal in no time.
In order to make $20,000 a month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 sales to achieve your income objective.
