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Before we begin, 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 these together.
Residual Passive Income: This kind of income is one of the secrets to success in your online business and can be successful if you manage to build a source of residual income. Residual income is the type of income where you earn a monthly commission for the sale youve made.
By way of instance, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any job. Approximately 30% 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. It 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 greatest passive income flow is one that provides you both residual and active income and were going to speak about a few ways to make 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 stage 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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So before we dive down into the world of passive income opportunities, let me give you look at these guys a list of things Im going to teach you here:
Im going to get started with the easiest passive income strategy, then we'll dive deeper into building a business that pays you big commissions daily.
The passive income plan Im about to share with you is used by companies like Amazon and Apple and its 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 reduction, typically 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 program isnt the hottest one. Usually, affiliates earn 50% commissions on websites like Clickbank (that we'll discuss soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will cover around $3,000 per sale to affiliates. These are specific applications that arent generally open for everyone. We'll explore different high ticket affiliate programs as we move down into this report.
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I could write an entire post to deal with this problem in the online business world. If you follow some of the so-called YouTube professionals, all youll see is that their luxury cars and horses which may provide you the impression which 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 back, 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 terms question: How much money you can earn in 6 months, I will need to discuss different business strategies because if you apply 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 per month in passive income, you'll need to earn $20,000 in commissions by 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 achieve your income objective.
