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Before we start, allow me to explain some of the terminologies of the passive income globe. There are 2 kinds 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 construct 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 example, if a service pays you $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any job. About 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 a service. The main difference between residual and active income is that active passive income is a one-time compensation and you dont keep earning commissions from your 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 sale. .
The best passive income stream is one which gives you both residual and busy income and so were going to speak about a couple of approaches to make 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 in one source or a business that is getting the majority of its traffic and sales 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 destroy your entire business overnight.
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So before we dip down into the world of passive income opportunities, Allow Me to give you a list of things Im going to teach you :
Im going to get started using the simplest passive income plan, then we'll dive deeper into building a business that pays big commissions every day.
The passive income strategy Im going to discuss 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 sale is made, they will earn a reduction, typically %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 these days, Amazons affiliate program isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (that we'll discuss soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs like Aversity will cover around $3,000 per purchase to affiliates. All these are specific applications that arent generally open for everyone. We'll explore different top ticket affiliate applications as we proceed down into this report.
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I could write an entire post to address this problem in the online business world. If you stick to some of those so-called YouTube gurus, all youll see is their luxury cars and horses which may provide you the impression that you can navigate here 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 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 work 9 months to get a $25 commission, but that 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 discuss different business click now strategies because if you apply the approaches that Im about to share here, you can go well beyond the $20,000 per month goal in no time.
In order to earn $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 affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to attain your income goal.
