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Before we begin, let me explain a few of the terminologies of the passive income globe. There are 2 kinds of passive income: Lively 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 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 type of income where you earn a monthly commission for the sale 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 type 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 your sale. This has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from each sale. .
The best passive income stream is one that gives you both residual and active income and were going to speak about a few ways to make that kind of incomes online.
The number 1 is your very dangerous number in the realm of business. Building a passive income stream that pays you from one supply or a business that's 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 advertising 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 that pays you big commissions daily.
The passive income plan Im about to share with you is used by companies like Amazon and Apple and its affiliate marketing. In this strategy, an affiliate (you) will market a product using their own unique tracking link and when a purchase is made, they will earn a cut, usually percent 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 hottest More Info one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we'll talk about soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will pay up to $3,000 per purchase to affiliates. All these are special applications that arent usually open for everyone. We will explore different high ticket affiliate applications as we move down into this report.
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I could write an entire article to address this problem in the online blog here business world. If you stick to some of those so-called YouTube professionals, all youll see is that their luxury cars and horses which might provide you the impression which 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 approach, 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 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 terms question: How much money you can earn in 6 months, I'll need to discuss different business strategies since if you apply the approaches that Im planning to share here, you can go well beyond the $20,000 per month target in no time.
In order to make $20,000 per month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An average network such as Clickbank pays $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to attain your income goal.
