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Before we begin, allow me to explain a few of the terminologies of this passive income world. There are 2 types of passive income: Active and Residual. If youre planning to earn some serious money, youre going to need both of them together.
Residual Passive Income: This kind of income is one of the keys to success in your online business and can be powerful if you manage to construct a source of residual income. Residual income is the type of income in which you earn a monthly commission for the selling youve made.
By way of instance, if an agency pays you $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any job. About 30% 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 busy income is that active passive income is a one-time compensation and you dont keep earning commissions from your purchase. It has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from every purchase. .
The best passive income stream is one which gives you both residual and busy income and were going to talk about a few ways to make 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 in one supply or a business that's getting the majority of its visitors and earnings 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 ad platform can kill your entire business overnight.
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So before we dip down into the world of passive income opportunities, let me give you a list 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 that pays you big commissions every day.
The passive income plan Im about to share with you is used 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 purchase is made, they will earn a cut, usually percent 5 to 50% 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 program isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we will talk Continued about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will cover up to $3,000 per sale to affiliates. These are special programs that arent generally open to everyone. We'll explore different high 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 some of the so-called YouTube gurus, all youll see is that their luxury cars and horses which may give you the impression which you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes some time but with the ideal approach, 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 that 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 share here, you can go well beyond the $20,000 a month target in no time.
In order to make $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 affiliates $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings to achieve your income objective.