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Before we start, let me explain a few of the terminologies of the passive income world. There are just two kinds of passive income: Lively and Residual. If youre planning to make some serious money, youre going to need both of these together.
Residual Passive Income: This type of income is one of the keys to success in your online business and can be powerful if you manage to build a supply of residual income. Residual income is the type of income in which you earn a monthly commission for the selling youve made.
For instance, if an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any work. 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 busy income is that busy passive income is a one-time compensation and you dont keep earning commissions from the 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 sale. .
The best passive income flow is one that gives 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 the 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 the majority of its visitors and sales 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 dip down into the world of passive income opportunities, Allow Me to give you a listing of things Im going to teach you :
Im going to get started with the simplest passive income plan, then we will dive deeper into building a business that pays big commissions every day.
The passive income plan Im going to share with you is utilized by companies like Amazon and Apple and its called affiliate marketing. In this approach, an affiliate (you) will promote other a product using their own unique tracking link and when a purchase is made, they will earn a cut, 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 these days, Amazons affiliate application isnt the most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we'll talk about 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 applications that arent usually open to everyone. We will explore different top ticket affiliate applications as we proceed down into this report.
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I could write an entire post to address this problem in the online business world. If you stick to a few 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 some time but with the ideal approach, 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 initial $25 commission. Im not asking you to work 9 months for 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 since in the event that you use the strategies that Im about to share here, you can go well beyond the $20,000 per month target in no time.
In order to earn $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 earnings to achieve your income goal.
