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Before we start, allow me to explain a few of the terminologies of this passive income globe. There are just two types 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 keys to success in your online business and can be successful if you manage to build a supply of residual income. Residual income is the type of income in which you earn a monthly commission for the sale youve made.
By way of example, if an agency pays you $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 products theyve sold.
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Active Passive Income: This is the kind of money you earn by selling a product, or even a service. The main difference between staying and busy 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 stream is one which provides you both residual and active income and were going to speak about a few 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 in one source or a business that is getting the majority of its visitors 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 kill your entire business overnight.
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So before we dive down into the world of passive income opportunities, let me give you a listing of things Im going to teach you here:
Im going to get started using the easiest passive income strategy, then we will dive deeper into building a business which pays big commissions daily.
The passive income strategy Im going to discuss with you is utilized by companies like Amazon and Apple and its own 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 %5 to 50 percent depending on the product 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. Normally, affiliates earn 50% commissions on sites like Clickbank (which we will discuss soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will check this site out pay up to $3,000 per sale to affiliates. These are special applications that arent generally open for everyone. We'll explore different top ticket affiliate programs as we move 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 stick to a few of the so-called YouTube professionals, all youll see is that their luxury cars and horses which might give you the impression which you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the ideal strategy, 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 initial $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: How much money you can earn in 6 months, I'll need to go over different business strategies since in the event that you apply the strategies that Im planning to share here, you can go well beyond the $20,000 a 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 normal network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings to attain your income goal.
