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Before we begin, allow me to explain a few of the terminologies of the passive income world. There are just two types of passive income: Lively and Residual. If youre planning to earn 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 successful if you manage to construct a supply of residual income. Residual income is the type of income in which you earn a monthly commission for the sale youve made.
By way of example, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any job. About 30% of Aversity Gold Masterclass members earn residual incomes from goods 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 busy income is that busy passive income is a one-time compensation and also you dont keep earning commissions from the sale. It has its own pros and cons which Im not going to get into, but it all depends on how much money youll earn from every purchase. .
The greatest passive income flow is one that gives you both residual and active income and were going to talk about a few ways to create that kind of incomes online.
The number 1 is the very dangerous number in the world of business. Building a passive income stream that pays you in 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 kill your entire business overnight.
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Before we dive down into the world of passive income opportunities, let me give you a list of things Im going to teach you :
Im going to get started with the simplest passive income strategy, then we will dive deeper into building a business which 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 own affiliate marketing. In this strategy, 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% depending on the product and the company selling that product. .
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The affiliate marketing was popularized by Amazon but nowadays, Amazons affiliate application isnt Continued the hottest one. Normally, affiliates earn 50% commissions on sites like Clickbank (which we'll talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate programs like Aversity will cover up to $3,000 per sale to affiliates. These are specific applications that arent usually open to everyone. We will explore different top ticket affiliate programs as we move down into this article.
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I could write an entire article to address this problem in the online business world. If you stick to a few of the so-called YouTube gurus, all youll see is their luxury cars and horses which might provide you the impression which 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 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 to get a $25 commission, but I dont want you to think itll be quick.
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To answer the long term question: How much money you can earn in 6 months, I will need to discuss different business strategies since in the event that you use the strategies that Im about to share here, you can go well beyond the $20,000 a month goal in no time.
In order to earn $20,000 a month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An average network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to attain your income goal.
