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Before we begin, let me explain a few of the terminologies of the passive income globe. There are just two kinds of passive income: Lively and Residual. If youre planning to earn 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 supply of residual income. Residual income is the form of income in which you earn a monthly commission for the selling youve made.
For instance, if an agency pays $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any job. 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 residual and active income is that busy 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 best passive income flow is one that provides you both residual and active income and so were going to speak about a few approaches to create that kind of incomes online.
The number 1 is the very dangerous number in the realm 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 platform 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 list of things Im going to teach you :
Im going to begin with the simplest passive income strategy, then we will dive deeper into building a business that pays big commissions every day.
The passive income plan Im going to share with you is used by companies like Amazon and Apple and its own affiliate marketing. In this approach, an affiliate (you) will market a product using their own special tracking link and when a sale 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 program isnt the most popular one. Usually, affiliates earn 50% commissions on sites like Clickbank (that we'll discuss soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate applications like Aversity will pay up to $3,000 per sale to affiliates. All these are specific applications that arent generally open for everyone. We will explore different high ticket affiliate programs as we move down into this article.
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I could write an entire article to deal with this problem in the online business world. If you follow a few of those so-called YouTube gurus, all youll see is their luxury cars and horses which may provide 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 ideal approach, 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 work 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'll need to discuss different business strategies since if you use the strategies that Im about to discuss here, you can check out here go well beyond the $20,000 per month goal in no time.
In order to make $20,000 a month in passive income, you will 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 attain your income objective.
