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Before we start, allow me to explain a few of the terminologies of this passive income world. There are 2 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 type of income is one of the secrets to success in your online business and can be powerful if you manage to construct a source of residual income. Residual income is the type of income where you earn a monthly commission for the sale youve made.
For example, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any job. Approximately 30 percent of Aversity Gold Masterclass members earn residual incomes from goods theyve sold.
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Active Passive Income: This is the type of money you earn by selling a product, or a service. The main difference between residual and busy income is that active passive income is a one-time compensation and you dont keep earning commissions from your purchase. This 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 flow is one that gives you both residual and busy income and were going to speak about a few approaches to make that kind of incomes online.
The number 1 is your most dangerous number in the realm of business. Building a passive income stream that pays you from one supply or a business that's getting the majority 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 advertising platform can destroy your entire business overnight.
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So 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 here:
Im useful reference going to begin using the simplest passive income strategy, then we will dive deeper into building a business that pays big commissions every day.
The passive income strategy Im about to discuss with you is used 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 cut, usually 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 nowadays, Amazons affiliate application isnt the most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we will talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications like Aversity will pay up to $3,000 per sale to affiliates. These are specific applications that arent generally open to everyone. We'll explore different high ticket affiliate programs as we move down into this article.
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I could write an entire post to deal with this problem in the online business 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 that you can start a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes some time but with the ideal approach, your journey wont be as painful as mine was. When I began my online business 6 decades 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 that I dont want you to think itll be fast.
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To answer the long term question: Just how much money you can earn in 6 months, I'll need to go over different business strategies since if you apply the strategies that Im about to share here, you can go well beyond the $20,000 per month target 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 normal network like Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 earnings to attain your income goal.
Its important to know what Im going to teach here will make a huge difference in how far you'll be making in future so make sure you read this very carefully.