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Before we start, allow me to explain some of the terminologies of this 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 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 form of income where you earn a monthly commission for the selling youve made.
For instance, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 per 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 even a service. The main difference between residual and active income is that active passive income is a one-time compensation and also 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 purchase. .
The best passive income stream is one that gives you both residual and active income and so were going to speak about a couple of approaches to create that kind of incomes online.
The number 1 is your most dangerous number in the world of business. Building a passive income stream that pays you from one supply or a business that is getting the majority of its traffic 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 destroy 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 list view website of things Im going to teach you :
Im going to get started using the easiest passive income strategy, then we'll dive deeper into building a business that pays big commissions daily.
The passive income plan Im about to share with you is utilized by companies like Amazon and Apple and its called affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own special tracking link and when a sale is made, they will earn a cut, typically %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 these days, Amazons affiliate program isnt the most popular one. Usually, affiliates earn click to investigate 50% commissions on websites like Clickbank (which we'll discuss soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will cover up to $3,000 per purchase to affiliates. These are special programs that arent usually open to everyone. We will explore different high ticket affiliate programs as we proceed down into this report.
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I could write an entire article to address 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 might provide you the impression which you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes some time but with the right strategy, your journey wont be as painful as mine was. When I started 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 for a $25 commission, but that I dont want you to think itll be quick.
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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 apply the approaches that Im planning to share here, you can go well beyond the $20,000 per month target in no time.
In order to make $20,000 per month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An normal 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 objective.
