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Before we start, allow me to explain a few 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 them together.
Residual Passive Income: This type of income is one of the secrets 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 where you earn a monthly commission for the selling 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. Approximately 30 percent 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 even a service. The main difference between residual and active income is that active passive income is a one-time compensation and also you dont keep earning commissions from your 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 greatest passive income flow 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 very dangerous number in the realm of business. Building a passive income stream that pays you in one source or a business that's getting the majority of its visitors and earnings 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 kill your entire business overnight.
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So before we dive down into the world of passive income opportunities, let me give you a list of things Im going to teach you here:
Im going to get started with the simplest passive income strategy, then we will dive deeper into building a business that pays you big commissions every day.
The passive income plan Im about to share with you is used by companies like Amazon and Apple and its called affiliate marketing. In this approach, an affiliate (you) will market a product using their own special tracking link and when a purchase is made, they will earn a cut, typically %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. Usually, affiliates earn 50% commissions on websites like Clickbank (which we will talk about soon) but even thats not the very rewarding affiliate program you go to this site can join.
High ticket affiliate programs for example Aversity will cover around $3,000 per sale to affiliates. These are special programs that arent generally open for everyone. We'll explore different top ticket affiliate programs as we move down into this additional hints report.
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I could write an entire post to deal with this issue in the online business world. If you follow a few of the so-called YouTube professionals, all youll see is their luxury cars and horses which may give you the impression which 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 strategy, your journey wont be as painful as mine was. When I started my online business 6 decades back, 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 quick.
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To answer the long terms question: How much money you can earn in 6 months, I'll need to discuss different business strategies since in the event that you use 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 a month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An average network such as Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 earnings to achieve your income objective.
