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Before we start, allow me to explain a few of the terminologies of this passive income world. There are 2 kinds of passive income: Lively 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 keys 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 an agency pays $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 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 every purchase. .
The best passive income flow is one which gives you both residual and busy income and were going to speak about a few ways to make that kind of incomes online.
The number 1 is the most dangerous number in the world 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 terribly dangerous. It will leave your business in a vulnerable position and a sudden shift in a search engine or an ad platform can destroy your entire business overnight.
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So 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 :
Im going to get started with the simplest passive income strategy, then we'll dive deeper into building a business which pays big commissions every day.
The passive income plan Im going to share with you is utilized 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 cut, usually 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 program isnt the hottest one. Normally, affiliates earn 50% 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 like Aversity will cover up to $3,000 per purchase to affiliates. All their website these are special applications that arent usually open for everyone. We'll explore different top ticket affiliate programs as we proceed down into this article.
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I could write an entire post to address this issue in the online business world. If you stick to some of the so-called YouTube gurus, all youll see is that their luxury cars and horses which might give you the impression that you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the right strategy, 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 operate 9 months to get a $25 commission, but 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 discuss 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 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 normal network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings to achieve your income goal.
Its important to know what Im going to teach here will make a massive difference in how much you will be making in future so be sure you read this very carefully.