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Before we start, allow me to explain some of the terminologies of the passive income world. There are 2 kinds 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 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 sale youve made.
By way of example, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any work. About 30 percent of Aversity Gold Masterclass members earn residual incomes from products 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 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 purchase. .
The greatest passive income flow is one that gives you both residual and active income and were going to speak about a couple of 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 from one source or a business that is getting most 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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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 here:
Im going to begin using the simplest passive income strategy, then we'll dive deeper into building a business which pays big commissions every day.
The passive income plan Im about to share with you is used by companies like Amazon and Apple and this website its called affiliate marketing. In this approach, an affiliate (you) will promote a product using their own special tracking link and when a purchase is made, they will earn a reduction, usually %5 to 50 percent depending on the product 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. Normally, affiliates earn 50% commissions on sites like Clickbank (which we will talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications for example Aversity will cover up to $3,000 per sale to affiliates. These are specific programs that arent generally open to everyone. We will explore different top ticket affiliate programs as we proceed down into this article.
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I could write an entire post to address this issue in the online business world. If you follow some of the so-called YouTube professionals, all youll see is their luxury cars and horses which might provide you the impression which you can start 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: Just how much money you can earn in 6 months, I'll need to discuss different business strategies since in the event that you apply 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 from an affiliate network. An average network such as Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to attain your income goal.
