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Before we begin, let me explain a few of the terminologies of this passive income world. There are 2 kinds of passive income: Active and Residual. If youre planning to earn some serious money, youre going to need both of these together.
Residual Passive Income: This kind of income is one of the secrets to success in your online business and can be powerful if you manage to build a supply 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 $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any job. 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 active passive income is a one-time compensation and also you dont keep earning commissions from the 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 flow is one that gives you both residual and busy income and were going to speak about a couple of approaches to create 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 supply or a business that's getting most of its visitors 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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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 begin using the simplest passive income strategy, then we will 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 own called affiliate marketing. In this approach, an affiliate (you) will promote a product using their own special tracking link and when a purchase is made, they will earn a cut, typically %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 application isnt the most popular one. Usually, 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 programs for example Aversity will cover around $3,000 per sale to affiliates. All these are special programs that arent usually open to everyone. We will explore different top ticket affiliate programs as we proceed down into this article.
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I could write an entire article to address this problem in the online business world. If you follow a few of the so-called YouTube gurus, all youll see is that their luxury cars and horses which may give you the impression that you can begin a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes time but with the right strategy, your journey wont be as painful as mine was. When I started my online business 6 years ago, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months for a $25 commission, but 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'll need to go over different business strategies since in the event that you apply the approaches that Im about to share here, you can go well beyond the $20,000 a month goal in no time.
In order to make $20,000 per month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An normal network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings to achieve your income goal.
