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Before we start, allow me to explain a few of the terminologies of this passive income globe. There are just two 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 type of income is one of the secrets to success in your online business and can be successful if you manage to construct a supply of residual income. Residual income is the form of income where you earn a monthly commission for the sale youve made.
For instance, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any job. 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 staying and active income is that busy passive income is a one-time compensation and you dont keep earning commissions from the 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 every purchase. .
The greatest passive income stream is one that provides 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 world of business. Building a passive income stream that pays you from one source or a business that is 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 advertising platform can kill your entire business overnight.
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So 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 :
Im going to get started using the easiest passive income strategy, then we'll dive deeper into building a business that pays big commissions daily.
The passive income plan Im about to discuss with you is utilized by companies like Amazon and Apple and its own called affiliate marketing. In this strategy, an affiliate (you) will market a product using their own special tracking link and when a purchase is made, they will earn a reduction, usually %5 to 50 percent depending on the solution and the company selling that product. .
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The affiliate marketing was popularized by Amazon but see these days, Amazons affiliate program isnt the most popular 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 for example Aversity will pay around $3,000 per purchase to affiliates. These are specific applications that arent generally open for everyone. We will explore different high ticket affiliate programs as we move down into this article.
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I could write an entire article to deal with this issue in the online business world. If you stick to a few of those so-called YouTube gurus, all youll see is their luxury cars and horses which may 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 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 first $25 commission. Im not asking you to work 9 months to get a $25 commission, but that I dont want you to think itll be quick.
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To answer the long terms question: How much money you can earn in 6 months, I'll need to discuss different business strategies because if you apply the strategies that Im about to share here, you can go well beyond the $20,000 a month goal in no time.
In order to earn $20,000 a month in passive income, you'll 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 sale, youll need 800 earnings to attain your income objective.
Its important to know what Im about to educate here will make a huge difference in how far you'll be making in future so make sure you read this very carefully.