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Before we begin, allow me to explain a few of the terminologies of the passive income world. There are just two types 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 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 in which you earn a monthly commission for the sale youve made.
For instance, if an agency pays $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any work. Approximately 30 percent of Aversity Gold Masterclass members earn residual incomes from products 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 staying and busy income is that active passive income is a one-time compensation and you dont keep earning commissions from the sale. 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 sale. .
The best passive income flow is one which gives you both residual and busy income and so were going to talk about a few ways to create that kind of incomes online.
The number 1 is the most dangerous number in the world 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 extremely 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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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 here:
Im going to get started using the simplest passive income plan, then we will dive deeper into building a business which pays big commissions every day.
The passive income strategy Im going to discuss with you is utilized 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 unique tracking link and when a purchase is made, they will earn a cut, typically More about the author %5 to 50 percent depending on the product 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 hottest one. Usually, affiliates earn 50% commissions on sites like Clickbank (that we will talk about 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 sale to affiliates. These are specific applications that arent generally open for everyone. We will explore different top ticket affiliate programs as we proceed down into this report.
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I could write an entire article to address this problem in the online business world. If you stick to some of those so-called YouTube gurus, all youll click over here see is that their luxury cars and horses which may provide you the impression that 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 ideal strategy, your journey wont be as painful as mine was. When I started 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 fast.
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To answer the long terms question: Just how much money you can earn in 6 months, I'll need to discuss different business strategies since if you use the strategies that Im planning to share here, you can go well beyond the $20,000 a 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 from an affiliate network. An average network Visit Website such as Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 earnings to attain your income goal.