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Before we begin, allow me to explain a few of the terminologies of the passive income globe. There are 2 kinds of passive income: Active 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 type of income in which you earn a monthly commission for the sale youve made.
By way of example, if an agency 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 goods 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 residual and active income is that busy passive income is a one-time compensation and 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 purchase. .
The best passive income stream is one that provides you both residual and busy income and were going to speak about a few approaches to create that kind of incomes online.
The number 1 is the most dangerous number in the realm of business. Building a passive income stream that pays you in one supply or a business that is getting most of its traffic and earnings 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 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 you a listing of things Im going to teach you here:
Im going to get started using the easiest passive income plan, then we'll dive deeper into building a business that pays big commissions every day.
The passive income plan Im about to discuss with you is used by companies like Amazon and Apple and its own affiliate marketing. In this approach, an affiliate (you) will promote a product using their own special tracking link and when a purchase is made, they will earn a cut, usually percent 5 to 50% depending on the solution and the company selling that product. .
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The affiliate marketing was popularized by Amazon but nowadays, Amazons Visit This Link affiliate program isnt the most popular one. Usually, affiliates earn 50% commissions on sites like Clickbank (which we will talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs like Aversity will pay up to $3,000 per sale to affiliates. All these are special webpage programs that arent usually open to everyone. We'll explore different high ticket affiliate programs as we proceed down into this article.
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I could write an entire article to address this issue in the online business world. If you stick to a few of the so-called YouTube gurus, 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 weekly.
Building an online business takes time but with the right approach, your journey wont be as painful as mine was. When I began my online business 6 years ago, it took me 9 months to earn my initial $25 commission. Im not asking you to work 9 months for a $25 commission, but that 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 strategies that Im planning to share here, you can go well beyond the $20,000 per month goal in no time.
In order to earn $20,000 per month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An average network such as Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 earnings to achieve your income goal.
