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Before we start, let me explain some of the terminologies of this passive income globe. There are just two 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 secrets to success in your online business and can be powerful if you manage to build a source of residual income. Residual income is the type of income in which you earn a monthly commission for the sale youve made.
For example, if an agency pays $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any work. 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 type of money you earn by selling a product, or even a service. The main difference between residual and active income is that active passive income is a one-time compensation and also you dont keep earning commissions from your 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 best passive income flow is one that gives you both residual and busy income and so were going to talk about a couple of ways to make that kind of incomes online.
The number 1 is the most dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that's getting the majority of its traffic 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 advertising 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 listing of things Im going to teach you here:
Im going to begin with the simplest passive income strategy, then we'll dive deeper into building a business which pays you big commissions every day.
The passive income strategy Im going to discuss 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 sale is made, they will earn a cut, typically %5 to 50 percent 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. Normally, affiliates earn 50% commissions on websites like Clickbank (that we will talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs like Aversity will pay up to $3,000 per sale to affiliates. All these are special applications that arent generally open to everyone. We will explore different high ticket affiliate programs as we move down into this article.
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I could write an entire article to address this issue in click this the online business world. If you follow a few of the so-called YouTube gurus, all youll see is that their luxury cars and horses which may give you the impression which you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the right strategy, your journey wont be as painful as mine was. When I started my online business 6 years back, it took me 9 months to earn my first $25 commission. Im not asking you to operate 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 terms question: How much money you can earn in 6 months, I'll need to go over different business strategies since if you apply the strategies that Im about to share here, you can go well beyond the $20,000 per month target in no time.
In order to earn $20,000 a month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An normal network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to achieve your income objective.
