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Before we start, let me explain some of the terminologies of the passive income globe. There are just two kinds 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 type of income is one of the secrets to success in your online business and can be powerful if you manage to build a supply of residual income. Residual income is the form of income in which you earn a monthly commission for the sale youve made.
For example, if an agency pays $25 in residual commissions, referring 100 individuals 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 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. This has its own pros and cons which Im not going to get into, but it all depends on how much money youll earn from each sale. .
The greatest passive income stream is one that provides you both residual and active income and were going to speak about a couple of approaches to create 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 supply or a business that's getting the majority of its visitors and earnings from one stage can be extremely 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 listing of things Im going to teach you here:
Im going to begin with the easiest passive income strategy, then we'll dive deeper into building a business that pays big commissions daily.
The passive income strategy Im going to share with you is utilized recommended you read by companies like Amazon and Apple and its own called 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 reduction, usually percent 5 to 50% 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 (which we'll talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications like Aversity will pay up to $3,000 per sale to affiliates. All these are special programs that arent generally open to everyone. We will explore different top ticket affiliate applications 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 some of those so-called YouTube gurus, all youll see is that their luxury cars and horses which may give you the impression that you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the ideal strategy, 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 first $25 commission. Im not asking you to operate 9 months to get a $25 commission, but I dont want you to think itll be quick.
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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 approaches 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 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 affiliates $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales to attain your income objective.