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Before we start, 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 keys to success in your online business and can be successful if you manage to construct a supply of residual income. Residual income is the type of income in which you earn a monthly commission for the sale youve made.
By way of example, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any work. About 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 even a service. The main difference between staying and active income is that busy passive income is a one-time compensation and 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 best passive income stream is one which gives you both residual and active income and so were going to speak about a few 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 in one source or a business that's getting most of its traffic and sales 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 advertising platform can destroy 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 here:
Im going to begin using the simplest passive income plan, then we will dive deeper into building a business which pays check this you big commissions every day.
The passive income strategy Im about to discuss with you is utilized by companies like Amazon and Apple and its affiliate marketing. In this approach, an affiliate (you) will promote a product using their own special tracking link and when a purchase is made, they will earn a cut, typically percent 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 nowadays, Amazons affiliate program isnt the most popular one. Usually, affiliates earn 50% commissions on sites like Clickbank (that we'll talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will cover around $3,000 per sale to affiliates. All these are specific applications that arent usually open to everyone. We will explore different high ticket affiliate applications as we proceed down into this report.
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I could write an entire post to deal with this issue in the online business world. If you follow some of those so-called YouTube gurus, all youll see is their luxury cars and horses which might 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 ideal strategy, your journey wont be as painful as mine was. When I began 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 fast.
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To answer the long term question: Just how much money you can earn in 6 months, I'll 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 a month target in no time.
In order to earn $20,000 per month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 earnings to achieve your income goal.