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Before we begin, allow me to explain a few of the terminologies of the passive income globe. There are just two types 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 kind of income is one of the keys to success in your online business and can be powerful if you manage to build a supply of residual income. Residual income is the form of income where you earn a monthly commission for the selling youve made.
For example, if an agency pays $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any job. About 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 even a service. The main difference between residual and active income is that active passive income is a one-time compensation and you dont keep earning commissions from the purchase. This has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from each sale. .
The best passive income flow is one which provides you both residual and active income and so were going to speak about a couple of 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 is getting the majority of its traffic and earnings from one stage 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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Before we dive down into the world of passive income opportunities, let me give you a list of things Im going to teach you here:
Im going to get started using the simplest passive income plan, then we will dive deeper into building a business that pays big commissions every day.
The passive income strategy Im about to discuss with you is used by companies like Amazon and Apple and its own called affiliate marketing. In this approach, an affiliate go now (you) will market a product using their own unique tracking link and when a sale is made, they will earn a cut, usually %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 nowadays, Amazons affiliate program isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (which we will talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will pay up to $3,000 per purchase to affiliates. These are special applications that arent usually open for everyone. We'll explore different top ticket affiliate programs as we move down into this article.
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I could write an entire article to address this problem 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 provide you the impression that 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 began my online business 6 decades back, it took me 9 months to earn my first $25 commission. Im not asking you to operate 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 will need to go over different business strategies because in the event that you apply the approaches that Im planning to discuss here, you can go well beyond the $20,000 a month target in no time.
In order to earn $20,000 per month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays $10 to $100 a sale. Should you earn $25 on average per sale, youll need my link 800 sales to attain your income goal.
