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Before we begin, let me explain a few of the terminologies of the 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 these 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 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.
By way of instance, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any job. 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 residual and busy income is that active passive income is a one-time compensation and you dont keep earning commissions from the sale. 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 flow is one that gives you both residual and active income and so were going to talk about a few ways 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 is getting most of its traffic 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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Before we dip down into the world of passive income opportunities, let me give you a listing of things Im going to teach you :
Im going to begin with the easiest passive income plan, then we'll dive deeper into building a business which pays big commissions daily.
The passive income strategy Im going to share with you is utilized by companies like Amazon and Apple and its 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, 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 Recommended Site days, Amazons affiliate application isnt the most popular one. Normally, affiliates earn 50% commissions on websites like Clickbank (that we'll talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate programs for example 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 address this issue in the online business world. If you follow some of those so-called YouTube gurus, all youll see is their luxury cars and horses which might give you the impression that 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 ideal approach, your journey wont be as painful as mine was. When I began my online business 6 years 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 fast.
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To answer the long terms question: Just how much money you can earn in 6 months, I will need to go over different business strategies because if you use the strategies that Im planning to share here, you can go well beyond the $20,000 per month goal in no time.
In order to earn $20,000 a month in passive income, you will 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 sales to attain your income goal.
