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Before we start, let me explain some of the terminologies of the passive income world. 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 powerful if you manage to build a supply of residual income. Residual income is the form of income in which you earn a monthly commission for the selling youve made.
By way of example, if an agency pays you $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any work. About 30 percent 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 staying and busy income is that busy passive income is a one-time compensation and also you dont keep earning commissions from your purchase. This 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 stream is one that gives you both residual and active income and were going to talk about a couple of ways to make 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 from one supply or a business that is getting most of its visitors and earnings 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 advertising platform can destroy 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 begin with the easiest passive income plan, then we'll dive deeper into building a business which pays big commissions daily.
The passive income plan Im about to share with you is utilized by companies like Amazon and Apple and its 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 percent depending on the solution 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 (which we'll talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications like Aversity will cover around $3,000 per purchase to affiliates. All these are specific applications that arent usually open for everyone. We will explore different high ticket affiliate programs as we move down into this report.
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I could write an entire post to deal with this issue in the online business world. If you follow some of the so-called YouTube professionals, all youll see is their luxury cars and horses which may give you the impression which you can start 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 began my online business 6 years back, it took me 9 months to earn my initial $25 commission. Im not asking you to work 9 months to get a $25 commission, but I dont want you to think itll be view quick.
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To answer the long term question: How much money you can earn in 6 months, I'll need to go over different business strategies because in the event that you apply the approaches that Im planning to share here, you can go well beyond the $20,000 per month goal in no time.
In check it out order to earn $20,000 a 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 sales to attain your income goal.
