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Before we start, let me explain a few of the terminologies of this 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 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 source of residual income. Residual income is the type of income in which 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 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 active income is that active passive income is a one-time compensation and you dont keep earning commissions from your purchase. This has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from each sale. .
The best passive income stream is one that gives 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 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 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 ad platform can kill 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 with the easiest passive income strategy, then we will dive deeper into building a business that pays big commissions daily.
The passive income plan Im about to discuss with you is utilized 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 purchase is made, they will earn a reduction, 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 check Amazon but these days, Amazons affiliate program isnt the hottest one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we will 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. These are special programs that arent usually open to everyone. We'll explore different top ticket affiliate programs as we proceed down into this article.
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I could write an entire article to address this problem in the online business world. If you follow a few of the so-called YouTube professionals, all youll see is that their luxury cars and horses which may give you the impression which you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
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 years 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 fast.
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To answer the long term question: Just how much money you can earn in 6 months, I will need to discuss different business strategies since in the event that you apply the strategies 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 will need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to attain your income goal.
