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Before we begin, allow me to explain some of the terminologies of the passive income world. There are just two kinds of passive income: Lively and Residual. If youre planning to earn some serious money, youre going to need both of these together.
Residual Passive Income: This kind of income is one of the keys 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 selling youve made.
By way of example, if an agency pays $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any work. 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 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 the sale. This has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from every sale. .
The best passive income stream is one which provides you both residual and busy income and so were going to talk about a couple of approaches to create that kind of incomes online.
The number 1 is the most dangerous number in the realm of business. Building a passive income stream that pays you in one source or a business that is getting most of its traffic 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 advertising platform can destroy your entire business overnight.
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So before we dive down into the world of passive income opportunities, Allow Me to give you a listing of things Im going to teach you :
Im going to begin with 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 share with you is used by companies like Amazon and Apple and its affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own unique tracking link and when a purchase is made, they will earn a cut, typically 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 hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (that we'll discuss soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications like Aversity will cover around $3,000 per purchase to affiliates. These are specific applications that arent usually open to everyone. We'll explore different website here top ticket affiliate programs as we move down into this report.
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I could write an entire article to deal with this issue in the online business world. If you follow a few of those so-called YouTube gurus, all youll see is that their luxury cars and horses which may give you the impression which you can begin a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes some time but with the right approach, your journey wont be as view it painful as mine was. When I began my online business 6 decades back, it took me 9 months to earn my initial $25 commission. Im not asking you to operate 9 months for a $25 commission, but 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'll need to go over different business strategies because if you apply the approaches that Im about to discuss here, you can go well beyond the $20,000 a month goal in no time.
In order to make $20,000 per month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An normal network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to attain your income objective.
