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Before we begin, allow me to explain some of the terminologies of this passive income world. There are 2 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 powerful if you manage to build a source of residual income. Residual income is the type of income in which you earn a monthly commission for the sale youve made.
By way of instance, if an agency pays $25 in residual commissions, referring 100 individuals 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 busy income is that busy passive income is a one-time compensation and also you dont keep earning commissions from your sale. 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 each sale. .
The greatest passive income stream is one which gives 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 realm of business. Building a passive income stream that pays you in one supply or a business that's getting the majority of its traffic and sales 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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Before we dive down into the world of passive income opportunities, Allow Me to give you a list of things Im going to teach you here:
Im going to get started with 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 going to discuss with you is utilized by companies like Amazon and Apple and its affiliate marketing. In this approach, an affiliate (you) will market a product using their own visit unique tracking link and when a sale 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 hottest one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we will talk about soon) but even thats not the very 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 special applications that arent usually open to everyone. We will explore different top ticket affiliate programs as we move down into this article.
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I could write an entire article to address this issue in the online business world. If you stick to a few 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 start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes some time but with the right 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 work 9 months to get a $25 commission, but 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 use the strategies that Im planning to share here, you can go well beyond the $20,000 per month target 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. Should you earn $25 on average per sale, youll need 800 earnings to attain your income objective.
