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Before we begin, allow me to explain some of the terminologies of the passive income globe. There are just two 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 type of income is one of the keys to success in your online business and can be powerful 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 example, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any work. 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 a service. The main difference between staying and busy 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 it all depends on how much money youll earn from each sale. .
The greatest passive income stream is one which gives you both residual and busy income and were going to speak about a couple of ways to create that kind of incomes online.
The number 1 is the very dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that's getting most of its visitors and earnings from one platform 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 destroy your entire business overnight.
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Before we dive down into the world of passive income opportunities, Allow Me to give you a list of things Im going to teach you :
Im going to begin with the simplest passive income strategy, 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 called 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 cut, 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 the most popular one. Usually, affiliates earn 50% commissions on sites like Clickbank (that we will discuss soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate programs like Aversity will cover around $3,000 per sale to affiliates. These are specific applications that arent generally open to everyone. We will explore different high ticket affiliate applications as we proceed 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 gurus, all youll see is that their luxury cars and horses which may provide 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 first $25 commission. Im not asking you to work 9 months for a $25 commission, but that I dont want you to think itll be quick.
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To answer the long term question: Just how much money you can earn in 6 months, I will need to discuss different business strategies because if you apply useful reference 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 make $20,000 a month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An normal network such as Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to achieve your income objective.
Its important to know what Im going to educate here will make a huge difference in how much you will be making in future so make sure that you read this very carefully.