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Before we start, let me explain some of the terminologies of this passive income world. 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 type of income is one of the keys to success in your online business and can be successful if you manage to build a supply of residual income. Residual income is the type of income where you earn a monthly commission for the selling youve made.
By way of instance, if a service pays $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any work. 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 a service. The main difference between residual and busy income is that busy passive income is a one-time compensation and also you dont keep earning commissions from your sale. This 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 flow is one that provides you both residual and active income and were going to talk about a few approaches to make that kind of incomes online.
The number 1 is your most dangerous number in the world of business. Building a passive income stream that pays you from one supply or a business that's getting most of its visitors and sales 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 destroy your entire business overnight.
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Before we dive 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 get started with the easiest passive income strategy, then we'll dive deeper into building a business that pays you big commissions daily.
The passive income plan Im going to share with you is utilized by companies like Amazon and Apple and its own called affiliate marketing. In this approach, an affiliate (you) will market a product using their own unique tracking link and when a purchase is made, they will earn a reduction, usually percent 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 these days, Amazons affiliate application isnt the hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we'll discuss soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications like Aversity will pay around $3,000 per sale to affiliates. All these are special programs that arent generally open to everyone. We'll explore different high ticket affiliate programs as we proceed down into this report.
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I could write an entire post to deal with this issue in the online business world. If you follow some of those so-called YouTube gurus, all youll see is that their luxury cars and horses which may give you the impression which you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the ideal approach, 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 first $25 commission. Im not asking you to work 9 months for a $25 commission, but that 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 go over different business strategies because if you apply the approaches that Im about to discuss here, you can go well helpful resources beyond the $20,000 a month goal in no time.
In order to make $20,000 a month in passive income, you'll need to earn $20,000 in commissions from an affiliate network. An normal network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales to attain your income goal.