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Before we begin, allow me to explain some of the terminologies of the passive income world. There are just two kinds of passive income: Lively and Residual. If youre planning to make some serious money, youre going to need both of these 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 type of income where you earn a monthly commission for the selling youve made.
For instance, if a service pays $25 in residual commissions, referring 100 individuals will make you $2,500 a 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 a service. The main difference between residual and active income is that busy passive income is a one-time compensation and you dont keep earning commissions from the purchase. 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 every sale. .
The greatest passive income stream is one that provides you both residual and active income and 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 realm of business. Building a passive income stream that pays you from one source or a business that's getting most of its traffic and earnings 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 ad 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 simplest passive income strategy, then we will dive deeper into building a business which pays you big commissions every day.
The passive income plan Im about to share with you is utilized by companies like Amazon and Apple and its called affiliate marketing. In this approach, an affiliate (you) will promote a product using their own special tracking link and when a purchase 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 nowadays, Amazons affiliate application isnt the most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (that we'll talk about directory soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications like Aversity will pay up to $3,000 per purchase to affiliates. All these are specific programs that arent generally open for everyone. We'll explore different high ticket affiliate applications as we proceed down into this report.
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I could write an entire article to address this problem in the online business world. If you follow a few of the so-called YouTube professionals, all youll see is that 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 some time but with the ideal strategy, 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 first $25 commission. Im not asking you to work 9 months for 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'll need to go over different business strategies since if you apply the strategies that Im planning to share here, you can go well beyond the $20,000 per month goal in no time.
In order to earn $20,000 per month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to achieve your income goal.