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Before we start, allow me to explain some of the terminologies of this passive income world. There are just two 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 type of income is one of the keys 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 sale youve made.
By way of instance, if a service pays you $25 in residual commissions, referring 100 individuals 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 type of money you earn by selling a product, or even a service. The main difference between residual and busy 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 it all depends on how much money youll earn from each purchase. .
The greatest passive income stream is one which gives you both residual and busy income and so were going to talk about a couple of approaches to create 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 in one source or a business that is getting most of its traffic and sales from one stage can be terribly dangerous. It will leave your business in a vulnerable position and a sudden shift in a search engine or an ad platform can destroy 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 here:
Im going to begin using the simplest passive income plan, then we'll dive deeper into building a business which pays big commissions every day.
The passive income strategy Im about to share with you is used by companies like Amazon and Apple and its called affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own special tracking link and when a purchase is made, they will earn a reduction, typically 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 application isnt the most popular one. Usually, 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 programs for example Aversity will cover up to $3,000 per sale to affiliates. All these are special applications that arent generally open for everyone. We will explore different top ticket affiliate applications as we proceed down into this report.
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I could write an entire article to address this problem in the link 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 might 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 began my online business 6 decades back, it took me 9 months to earn my initial $25 commission. Im not asking you to operate 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: Just how much money you can earn in 6 months, I'll need to discuss different business strategies since in the event that 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 a month in passive income, you'll 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 achieve your income objective.