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Before we begin, let me explain some of the terminologies of this passive income globe. There are just two kinds of passive income: Active and Residual. If youre planning to earn some serious money, youre going to need both of them together.
Residual Passive Income: This type of income is one of the secrets to success in your online business and can be successful if you manage to construct a supply 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 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 even a service. The main difference between residual and active income is that active passive income is a one-time compensation and also you dont keep earning commissions from your sale. 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 sale. .
The best passive income stream is one which gives you both residual and active income and so were going to speak about a few approaches 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 from one source or a business that's getting most of its visitors and sales 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 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 :
Im going to begin using the simplest 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 share 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 special tracking link and when a sale is made, they will earn a reduction, 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 most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (that we'll discuss soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will cover around $3,000 per purchase to affiliates. All these are special programs that arent generally open to everyone. We will explore different top ticket affiliate programs as we move down into this report.
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I could write an entire post to address this issue in the online business this post world. If you stick to a few of those so-called YouTube gurus, all youll see is 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 time but with the ideal approach, 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 terms question: Just how much money you can earn in 6 months, I will need to go over different business strategies because in the event that you apply the approaches that Im planning to discuss here, you can go well beyond the $20,000 a month target in no time.
In order to make $20,000 a month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales to attain your income goal.
