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Before we begin, allow me to explain some of the terminologies of this passive income world. 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 kind of income is one of the secrets 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 in which you earn a monthly commission for the selling youve made.
By way of example, if an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any job. Approximately 30% of Aversity Gold Masterclass members earn residual incomes from products theyve sold.
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Active Passive Income: This is the kind of money you earn by selling a product, or even a service. The main difference between residual and active 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 every sale. .
The greatest passive income stream is one which provides you both residual and busy income and 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's 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, let me give you a list of things Im going to teach you :
Im going to begin using the easiest passive income strategy, then we'll dive deeper into building a business that pays you big commissions daily.
The passive income plan Im going to discuss 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 purchase is made, they will earn a reduction, typically %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 these days, Amazons affiliate program isnt the most popular one. Normally, affiliates earn 50% commissions on websites like Clickbank (that we'll discuss soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will pay around $3,000 per purchase to affiliates. All these are special applications that arent usually open for everyone. We'll explore different top ticket affiliate applications 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 professionals, all youll see is their luxury cars and horses which may provide you the impression that 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 advice wont be as painful as mine was. When I started my online business 6 years back, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months for a $25 commission, but that I dont want you to think itll be quick.
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To answer the long term question: How much money you can earn in 6 months, I will need to discuss different business strategies since in the event that you apply the approaches that Im planning to share here, you can go well beyond the $20,000 visit our website 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 by an affiliate network. An average network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales to attain your income objective.
