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Before we start, allow me to explain a few of the terminologies of the passive income globe. There are 2 kinds of passive income: Active and Residual. If youre planning to make some serious money, youre going to need both of them together.
Residual Passive Income: This kind of income is one of the keys 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 in which you earn a monthly commission for the selling youve made.
For example, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any work. Approximately 30% of Aversity Gold Masterclass members earn residual incomes from products 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 you dont keep earning commissions from the sale. 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 best passive income stream is one which gives you both residual and active income and so were going to speak about a couple of approaches 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 supply or a business that's getting most of its visitors and earnings 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 here:
Im going to get started with the simplest passive income plan, then we will dive deeper into building a business that pays you big commissions every day.
The passive income strategy Im going to discuss 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 unique tracking link and when a sale is made, they will earn a reduction, usually 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 application isnt the most popular one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we'll discuss soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate programs like Aversity will pay up to $3,000 per purchase to affiliates. These are specific programs 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 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 provide you the impression that you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the ideal strategy, your journey wont be as painful as mine was. When I began my online business 6 years ago, it took me 9 months to earn my first $25 commission. Im not asking you to operate 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 term question: Just how much money you can earn in 6 months, I'll need to discuss different business strategies because if you use the strategies that Im planning to share here, you can go well beyond the $20,000 per month goal in no time.
In order to earn $20,000 per month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An normal network such as Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to achieve your income objective.
