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Before we start, let me explain some of the terminologies of this passive income globe. There are just two types 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 kind of income is one of the keys to success in your online business and can be successful if you manage to construct a source of residual income. Residual income is the form of income where you earn a monthly commission for the selling youve made.
For instance, if an agency pays you $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any work. About 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 residual and active income is that active passive income is a one-time compensation and you dont keep earning commissions from your sale. It has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from each sale. .
The greatest passive income stream is one which provides you both residual and busy income and so were going to talk about a couple of ways 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 from one supply or a business that's getting the majority 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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Before we dive down into the world of passive income opportunities, let me give you a listing of things Im going to teach you :
Im going to get started with the simplest passive income strategy, then we will dive deeper into building a business which pays big commissions every day.
The passive income strategy Im going to discuss with you is utilized by companies like Amazon and Apple and its affiliate marketing. In this approach, an affiliate (you) will promote a product using their own unique tracking link and when a sale is made, they will earn a cut, 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 application isnt the most popular why not try this out one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we will talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will pay around $3,000 per sale to affiliates. These are specific programs that arent generally open to everyone. We'll explore different high ticket affiliate applications 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 provide you the impression which you can start a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes some time but with the right strategy, Bonuses your journey wont be as painful as mine was. When I began my online business 6 decades ago, it took me 9 months to earn my first $25 commission. Im not asking you to operate 9 months for 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'll need to discuss different business strategies because if you use the approaches that Im planning to discuss here, you can go well beyond the $20,000 a month target 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 normal network such as Clickbank pays $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 earnings to achieve your income goal.