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Before we start, allow me to explain some of the terminologies of this passive income world. There are just two 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 keys to success in your online business and can be successful if you manage to build a supply 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 individuals will make you $2,500 a month without doing any work. Approximately 30% 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 busy passive income is a one-time compensation and also you dont keep earning commissions from the purchase. 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 every purchase. .
The greatest passive income stream is one which provides you both residual and active income and were going to talk about a few ways 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 source or a business that is getting most of its traffic and sales 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 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 listing of things Im going to teach you :
Im going to begin using the simplest passive income plan, then we'll dive deeper into building a business which pays big commissions daily.
The passive income plan Im going to discuss with you is utilized by companies like Amazon and Apple and its affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own special tracking link and when a purchase is made, they will earn a reduction, usually %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 program isnt the most popular one. Normally, affiliates earn 50% commissions on sites additional hints like Clickbank (that we will discuss soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will pay around $3,000 per sale to affiliates. All these are specific applications that arent generally open to 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 article to deal with this issue in the online business world. If you stick to a few of the so-called YouTube gurus, all youll 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 a week.
Building an online business takes some time but with the right approach, 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 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: How much money you can earn in 6 months, I'll need to go over different business strategies since in the event that you apply the strategies that Im about to discuss here, you can go well beyond the $20,000 per month target in no time.
In order to make $20,000 a month in passive income, you'll need to earn $20,000 in commissions by 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 sales to achieve your income objective.
