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Before we begin, allow me to 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 construct a supply of residual income. Residual income is the form of income in which you earn a monthly commission for the selling youve made.
For example, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any job. About 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 even a service. The main difference between residual and busy income is that busy passive income is a one-time compensation and you dont keep earning commissions from your sale. It 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 flow is one which gives you both residual and busy income and were going to speak about a couple of approaches to create that kind of incomes online.
The number 1 is the very dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that is getting most of its traffic 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 ad platform can destroy your entire business overnight.
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So before we dip down into the world of passive income opportunities, let me give you a list 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 that pays you big commissions daily.
The passive income plan Im about to discuss with you is used by companies like Amazon and Apple and its called affiliate marketing. In this approach, an affiliate (you) will promote a product using their own unique tracking link and when a sale is made, they will earn a reduction, typically percent 5 to 50 percent depending on the solution and the company selling that product. visit here .
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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 (that we will talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications like Aversity will cover up to $3,000 per purchase to affiliates. All these are special programs that arent usually open for everyone. We'll explore different high ticket affiliate programs as we move down into this article.
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I could write an entire article to deal with 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 may give you the impression that you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes a fantastic read time but with the right 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 to get a $25 commission, but I dont want you to think itll be fast.
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To answer the long term question: How much money you can earn in 6 months, I will need to go over different business strategies because in the event that you apply the approaches that Im about to discuss here, you can go well beyond the $20,000 a 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 normal network like Clickbank pays $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 earnings to achieve your income objective.
