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Before we begin, let me explain some of the terminologies of this passive income globe. There are 2 kinds of passive income: Active and Residual. If youre planning to make some serious money, youre going to need both of them together.
Residual Passive Income: This kind of income is one of the keys to success in your online business and can be powerful if you manage to construct a source of residual income. Residual income is the form of income where you earn a monthly commission for the selling youve made.
By way of example, if an agency pays you $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any job. Approximately 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 even a service. The main difference between residual and busy income is that active passive income is a one-time compensation and also you dont keep earning commissions from your sale. 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 each purchase. .
The greatest passive income stream is one that provides you both residual and active income and were going to talk about a few ways to make 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 from one supply or a business that's getting most of its traffic and sales 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 destroy your entire business overnight.
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Before we dip down into the world his response of passive income opportunities, let me 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 you big commissions every day.
The passive income strategy Im about to share with you is used by companies like Amazon and Apple and its called affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own special tracking link and when a sale is made, they will earn a cut, usually %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 sites like Clickbank (which we will discuss soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will cover around $3,000 per purchase to affiliates. These are special programs that arent usually open for everyone. We'll explore different high ticket affiliate programs as we move down into this report.
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I could write an entire article to address this issue in the online business world. If you stick to some of the so-called YouTube gurus, all youll see is that their luxury cars and check horses which might provide you the impression that you can 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 strategy, your journey wont be as painful as mine was. When I began my online business 6 decades back, 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 fast.
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To answer the long term question: How much money you can earn in 6 months, I'll need to discuss different business strategies since if you apply the approaches that Im about to discuss 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 will need to earn $20,000 in commissions by an affiliate network. An average network such as Clickbank pays $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 sales to attain your income goal.