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Before we start, allow me to explain some of the terminologies of this passive income globe. There are just two types of passive income: Active 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 powerful 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.
For example, if a service pays $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any work. About 30% of Aversity Gold Masterclass members earn residual incomes from goods 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 purchase. It has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from each purchase. .
The best passive income stream is one which provides you both residual and busy income and were going to speak about a few ways to make that kind of incomes online.
The number 1 is the very dangerous number in the world 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 terribly dangerous. It will leave your business in a vulnerable position and a sudden shift in a search engine or an advertising platform can kill your entire business overnight.
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Before we dip down into the world of passive income opportunities, let me give you a list of things Im going to teach you :
Im going to begin using the easiest passive income plan, then we will dive deeper into building a business which pays big commissions daily.
The passive income plan Im about to share with you is used by companies like Amazon and Apple and its own called 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 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 application isnt the hottest one. Usually, affiliates earn 50% commissions on sites like Clickbank (which we'll talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will cover up to $3,000 per purchase to affiliates. These are specific programs that arent generally open to everyone. We'll explore different high ticket affiliate programs as we proceed down into this article.
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I could write an entire post to deal with this issue in the online business world. If you stick to some of those so-called YouTube professionals, all youll see is that their luxury cars and horses which may provide you the impression which you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the right strategy, your journey wont be as painful as mine was. When I began my online business 6 years ago, it took me 9 months to earn my first $25 commission. Im not asking you to work 9 months for a $25 commission, but that redirected here 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 go over different business strategies because in the event that you use the strategies that Im planning to share here, you can go well beyond the $20,000 a month target 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 average network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to attain your income objective.
