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Before we start, let me explain a few of the terminologies of the passive income globe. 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 secrets to success in your online business and can be powerful 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 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 staying 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 everything depends on how much money youll earn from each purchase. .
The best passive income flow is one that gives you both residual and active income and were going to talk about a couple of ways to create 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 source or a business that is getting most of its traffic and earnings 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 dip down into the world of passive income opportunities, let me give you a listing of things Im going to teach you here:
Im going to get started using the easiest passive income strategy, then we'll dive deeper into building a business which pays big commissions every day.
The passive income plan Im going to discuss with you is utilized by companies like Amazon and Apple and its affiliate marketing. In this strategy, an affiliate (you) will market a product using their own special tracking link and when a purchase is made, they will earn a reduction, 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 nowadays, Amazons affiliate application isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we will talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket click for info affiliate applications for example Aversity will cover around $3,000 per purchase to affiliates. All these are specific applications that arent generally open to everyone. We will explore different high ticket affiliate programs as we move 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 a few of those so-called YouTube professionals, all youll see is that their luxury cars and horses which may give you the impression that you can start a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes time but with the right strategy, click over here your journey wont be as painful as mine was. When I started my online business 6 years back, it took me 9 months to earn my initial $25 commission. Im not asking you to operate 9 months to get a $25 commission, but I dont want you to think itll be quick.
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To answer the long term 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 share here, you can go well beyond the $20,000 per month target in no time.
In order to make $20,000 a month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An average network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings to attain your income goal.
