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Before we begin, let me explain some of the terminologies of the passive income world. There are 2 types 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 kind of income is one of the secrets to success in your online business and can be successful if you manage to build 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 an agency pays you $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 products 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 staying and busy income is that busy 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 it all depends on how much money youll earn from every sale. .
The best passive income stream is one which gives you both residual and busy income and so were going to speak about a few approaches to create that kind of incomes online.
The number 1 is your very dangerous number in the realm of business. Building a passive income stream that pays you in 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 advertising platform can destroy your entire business overnight.
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So before we dive 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 begin using the easiest passive income strategy, then we'll dive deeper into building a business which pays big commissions daily.
The passive income strategy Im going to discuss 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 unique tracking link and when a purchase is made, they will earn a cut, usually %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 nowadays, Amazons affiliate program isnt the hottest one. Usually, affiliates earn 50% commissions on sites like Clickbank (that we will discuss soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will pay around $3,000 per sale to affiliates. All these are specific programs that arent generally open to everyone. We will explore different top ticket affiliate programs as we proceed down into this report.
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I could write an entire article to deal with this issue in the online business world. If you follow a few of those so-called YouTube gurus, all youll see is that their luxury cars and horses which may provide 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 right strategy, 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 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 discuss different business strategies since if you apply the approaches that Im about to discuss here, you can go well beyond the $20,000 a month goal Our site in no time.
In order to make $20,000 a month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An normal network like 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.
