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Before we start, allow me to 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 type 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 form of income where you earn a monthly commission for the selling youve made.
By way of example, if a service pays you $25 in residual commissions, referring 100 individuals 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 kind of money you earn by selling a product, or a service. The main difference between staying and active income is that busy passive income is a one-time compensation and also you dont keep earning commissions from your sale. This has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from every purchase. .
The best passive income stream is one that gives you both residual and busy income and so were going to talk about a few ways to make that kind of incomes online.
The number 1 is the most dangerous number in the world of business. Building a passive income stream that pays you in one supply or a business that's getting most of its traffic and sales from one platform 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 dip down into the world of passive income opportunities, let me give view it you a listing of things Im going to teach you here:
Im going to get started with the easiest passive income strategy, then we'll dive deeper into building a business that pays you big commissions daily.
The passive income strategy Im about to discuss with you is utilized by companies like Amazon and Apple and its own 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 cut, typically percent 5 to 50% 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 hottest one. Usually, affiliates earn 50% commissions on sites like Clickbank (that we'll discuss soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications for example Aversity will cover up to $3,000 per purchase to affiliates. All these are special programs that arent generally open to everyone. We'll explore different high ticket affiliate applications as we proceed down into this report.
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I could write an entire post to address this issue in the online business world. If you follow a few of the so-called YouTube gurus, all youll see is that their luxury cars and horses which may 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 ideal approach, your journey wont be as painful as mine was. When I started my online business 6 years ago, it took me 9 months to earn my initial $25 commission. Im not asking you to operate 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: Just how much money you can earn in 6 months, I will need to discuss different business strategies since if you use the approaches that Im about to discuss here, you can go well beyond the $20,000 per month goal in no time.
In order to earn $20,000 a month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An average network like Clickbank pays $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to attain your income objective.
