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Before we begin, let me explain some of the terminologies of this passive income globe. There are 2 types of passive income: Lively 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 build a supply of residual income. Residual income is the type of income where you earn a monthly commission for the selling youve made.
By way of example, if a service pays $25 in residual commissions, referring 100 people 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 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 you dont keep earning commissions from your purchase. This 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 active income and so were going to talk about a couple of ways to make that kind of incomes online.
The number 1 is your very dangerous number in the world of business. Building a passive income stream that pays you from one supply or a business that is getting the majority of its traffic and earnings from one stage 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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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 using the easiest passive income strategy, then we will dive deeper into building a business that pays big commissions every day.
The passive income strategy Im about to share with you is used by companies like Amazon and Apple and its affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own unique tracking link and when a sale is made, they will earn a reduction, typically percent 5 to 50% depending on the solution and the company selling that product. .
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The affiliate marketing was popularized by Amazon but go to the website these days, Amazons affiliate program isnt the hottest one. Usually, affiliates earn 50% commissions on sites like Clickbank (which we will discuss soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate programs like Aversity will pay around $3,000 per sale to affiliates. All these are specific programs that arent generally open to everyone. We'll explore different high ticket affiliate programs as we proceed down into this article.
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I could write an entire post to deal with this issue in the online business world. If you follow a few of those 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 a week.
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 back, it took me 9 months to earn my first $25 commission. Im not asking you to work 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 terms question: How much money you can earn in 6 months, I will need to go over different business strategies since in the event that you use the strategies that Im about to discuss 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 will 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 sale, youll need 800 earnings to achieve your income objective.
Its important to know what Im about to educate here will make a huge difference in how far you will be making in the future so be sure you read this very carefully.