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Before we start, let me explain a few of the terminologies of the passive income globe. There are just two kinds 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 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 form of income where you earn a monthly commission for the selling youve made.
For instance, if a service pays $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 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 active 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 every sale. .
The greatest passive income stream is one that 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 very dangerous number in the world of business. Building a passive income stream that pays you from one source or a business that's getting most of its visitors 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 kill 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 listing of things Im going to teach you here:
Im going to get started with the easiest passive income plan, then we'll dive deeper into building a business that pays you big commissions every day.
The passive income strategy Im going to discuss with you is used by companies like Amazon and Apple and its own called 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, typically percent 5 to 50% depending important source on the solution and the company selling that product. .
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The affiliate marketing was popularized by Amazon but nowadays, Amazons affiliate program isnt the most popular one. Normally, affiliates earn 50% commissions on websites like Clickbank (that we'll discuss soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will cover up to $3,000 per sale to affiliates. All these are special programs that arent usually open for everyone. We'll explore different top ticket affiliate applications as we proceed down into this report.
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I could write an entire article to deal with this issue in the online business world. If you follow some of those so-called YouTube gurus, all youll see is that their luxury cars and horses which might give you the impression which you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
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 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 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 will need to discuss different business strategies because if you use the approaches that Im planning to discuss 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 will need to earn $20,000 in commissions by an affiliate network. An normal network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to attain your income objective.