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Before we begin, allow me to explain some of the terminologies of the passive income world. There are 2 types of passive income: Active and Residual. If youre planning to make 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 construct a supply of residual income. Residual income is the type of income in which you earn a monthly commission for the sale youve made.
By way of instance, if a service 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 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 everything depends on how much money youll earn from each purchase. .
The greatest passive income flow is one that provides you both residual and busy income and so were going to speak about a couple of ways 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's getting most of its visitors 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 ad platform can destroy 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 begin using the easiest passive income strategy, then we will dive deeper into building a business which pays you big commissions daily.
The passive income strategy Im going to share with you is utilized by companies like Amazon and Apple and its affiliate marketing. In this strategy, an affiliate (you) will market a product using their own special tracking link and when a sale is made, they will earn a reduction, 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 most popular one. Normally, 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 cover up to $3,000 per purchase to affiliates. These are specific programs that arent generally open to everyone. We will explore different high ticket affiliate applications 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 stick to some of those so-called YouTube professionals, all youll see is that their luxury cars and horses which may give you the impression that you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the ideal 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 to get a $25 commission, but that 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'll need to discuss different business strategies see it here because if you use the strategies that Im planning to discuss here, you can go well beyond the $20,000 per month target in no time.
In order to make $20,000 per month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An normal network like Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales to attain your income objective.
