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Before we start, let me explain a few of the terminologies of the passive income globe. There are 2 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 secrets to success in your online business and can be successful if you manage to build a supply of residual income. Residual income is the form of income where you earn a monthly commission for the sale youve made.
For instance, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any job. About 30 percent 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 even a service. The main difference between residual and busy income is that busy passive income is a one-time compensation and also you dont keep earning commissions from your purchase. It has its own pros and cons which Im not going to get into, but it all 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 so were going to talk about a few ways to create that kind of incomes online.
The number 1 is your most dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that is getting the majority of its visitors and sales 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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So before we dive down into the world of passive income opportunities, Allow Me to 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 share with you is utilized by companies like Amazon and Apple and its called affiliate marketing. In this approach, an affiliate (you) will promote a product using their own special tracking link and when a sale is made, they will earn a cut, typically percent 5 to 50 percent depending on the product 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 talk about soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will pay around $3,000 per purchase to affiliates. These are special programs that arent usually open to everyone. We'll explore different top ticket affiliate programs as we proceed down into this report.
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I could write an entire article to address this problem in the online business world. If you stick to some of the so-called YouTube gurus, all youll see is their luxury cars and horses which might give 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 right 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 quick.
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To answer the long terms question: How much money you can earn in 6 months, I will need to discuss different business strategies because in the event that you apply the approaches that Im about to discuss 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 such click now as Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to attain your income goal.
