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Before we begin, let me explain a few of the terminologies of the 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 them together.
Residual Passive Income: This kind of income is one of the keys to success in your online business and can be successful if you manage to construct a source of residual income. Residual income is the type of income where you earn a monthly commission for the selling youve made.
For instance, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any job. 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 kind 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. It 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 which provides you both residual and busy income and so were going to speak about a few ways to create that kind of incomes online.
The number 1 is your very dangerous number in the world of business. Building a passive income stream that pays you in one source or a business that's getting the majority of its visitors and earnings 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 advertising platform can kill your entire business overnight.
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So before we dive down into the world of passive income opportunities, let me give you a listing of things Im going to teach you :
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 strategy Im about to discuss with you is used by companies like Amazon and Apple and its affiliate marketing. In this approach, an affiliate (you) will promote a product using their own unique tracking link and more info here 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 most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (which we'll talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will cover around $3,000 per sale to affiliates. All these are special applications that arent generally open to everyone. We'll explore different top ticket affiliate programs as we proceed down into this article.
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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 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 a week.
Building an online business takes time but with the ideal approach, your journey wont be as painful as mine was. When I began my online business 6 decades 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 term question: Just how much money you can earn in 6 months, I'll need to go over different business strategies because in the event that you use the approaches that Im about to discuss here, you can go well beyond the $20,000 per month target 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 average network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to achieve your income objective.
