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Before we start, let me explain a few of the terminologies of this passive income globe. There are just two kinds 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 type 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 form of income in which you earn a monthly commission for the sale youve made.
By way of example, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 a 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 a service. The main difference between staying 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 sale. .
The best passive income stream is one which gives you both residual and active income and so were going to talk about a few approaches to make that kind of incomes online.
The number 1 is the very dangerous number in the world of business. Building a passive income stream that pays you in one source or a business that's getting the majority of its visitors and earnings from one platform can be terribly 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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Before we dive down into the world of passive income opportunities, Allow Me to give you a list of things Im going to news teach you here:
Im going to get started using the simplest passive income strategy, then we will dive deeper into building a business which 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 unique tracking link and when a sale is made, they will earn a reduction, usually %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 application isnt the hottest one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we will 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 sale to affiliates. These are special applications that arent usually open to everyone. We'll explore different high ticket affiliate applications as we proceed down into this article.
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I could write an entire article to deal with this problem in the online business world. If you stick to some of the so-called YouTube professionals, all youll see is their luxury cars and horses which may provide 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 some time but with the ideal approach, your journey wont be as painful as mine was. When I began my online business 6 years back, it took me 9 months to earn my initial $25 commission. Im not asking you to work 9 months for a $25 commission, but that I dont want you to think itll be fast.
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To answer the long term question: How much money you can earn in 6 months, I will need to go over different business strategies since if you apply 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 by an affiliate network. An average network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales to attain your income goal.
