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Before we begin, let me explain a few of the terminologies of the passive income globe. There are 2 kinds 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 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 in which you earn a monthly commission for the selling youve made.
For example, if an agency pays you $25 in residual commissions, referring 100 people 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 a service. The main difference between residual and busy income is that busy passive income is a one-time compensation and also you dont keep earning commissions from the purchase. 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 greatest passive income flow is one that gives you both residual and busy income and were going to talk about a couple of approaches to create that kind of incomes online.
The number 1 is the most dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that is getting the majority of its traffic and sales 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 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 list of things Im going to teach you here:
Im going to begin with the easiest passive income strategy, then we'll dive deeper into building a business which pays big commissions every day.
The passive income strategy Im about to discuss with you is utilized by companies like Amazon and Apple and its called affiliate marketing. In this strategy, an affiliate (you) will market a product using their own unique tracking link and when a sale is made, they will earn a cut, usually %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 hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (that we'll talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications like Aversity will cover around $3,000 per purchase to affiliates. These are special programs that arent usually open for 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 address this issue in the online business world. If you follow some of the so-called YouTube gurus, all youll see is their luxury cars and horses which might give you the impression that you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes some time but with the right approach, your journey wont be as painful as mine was. When I began my online business 6 decades back, it took me 9 months to earn my initial $25 view website commission. Im not asking you to operate 9 months to get a $25 commission, but that 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 will need to discuss different business strategies since if you use the approaches that Im planning to share here, you can go well beyond the $20,000 a month goal in no time.
In order to earn $20,000 per month in passive income, you'll 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 purchase, youll need 800 sales to attain your income objective.