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Before we begin, let me explain some of the terminologies of the passive income world. There are 2 types of passive income: Lively 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 secrets to success in your online business and can be powerful if you manage to build a source of residual income. Residual income is the type of income where you earn a monthly commission for the sale youve made.
For example, if a service pays you $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any work. About 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 even 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 the 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 every sale. .
The greatest passive income flow is one which gives you both residual and busy income and so were going to speak about a couple of approaches to make 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 supply or a business that is getting the majority 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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Before we dip 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 begin using the easiest passive income plan, then we will dive deeper into building a business that pays big commissions every day.
The passive income strategy Im going to discuss with you is used by companies like Amazon and Apple and its affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own Visit Your URL special tracking link and when a purchase is made, they will earn a reduction, typically %5 to 50 percent 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 application isnt the hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we will discuss soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate programs like Aversity will cover up to $3,000 per sale to affiliates. All these are specific applications that arent generally open to everyone. We will explore different high ticket affiliate applications 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 follow a few of the so-called YouTube professionals, all youll see is that their luxury cars and horses which may 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 started my online business 6 decades ago, it took me 9 months to earn my first $25 commission. Im not asking you to operate 9 months to get a $25 commission, but I dont want you to think itll be fast.
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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 because in the event that you apply the approaches that Im about to discuss here, you can go well beyond the $20,000 a 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 by an affiliate network. An normal network such as Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings to achieve your income objective.
