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Before we start, allow me to explain a few of the terminologies of the passive income globe. There are 2 types 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 type of income is one of the keys to success in your online business and can be successful if you manage to construct a source of residual income. Residual income is the form of income in which you earn a monthly commission for the sale youve made.
By way of example, if an agency pays you $25 in residual commissions, referring 100 people will make you $2,500 per month without doing any work. 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 type of money you earn by selling a product, or a service. The main difference between staying and busy income is that busy 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 it all depends on how much money youll earn from every sale. .
The best passive income flow is one which provides you both residual and busy income and were going to talk about a couple of approaches to create that kind of incomes online.
The number 1 is the 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 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 advertising 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 list of things Im going to teach you here:
Im going to get started using the easiest passive income strategy, then we will dive deeper into building a business which pays you big commissions every day.
The passive income strategy Im about to share with you is used by companies like Amazon and Apple and its own called affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own special tracking link and when a sale is made, they will earn a reduction, usually percent 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 these days, Amazons affiliate application isnt the most popular one. Usually, affiliates earn 50% commissions on sites like Clickbank (which we will talk about soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate applications for example Aversity will cover up to $3,000 per purchase to affiliates. All these are special programs that arent usually open for everyone. We will explore different high ticket affiliate programs as we additional reading proceed down into this report.
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I could write an entire article to address this issue in the online business world. If you follow some of the so-called YouTube professionals, all youll see is that their luxury cars and horses which might provide 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 approach, your journey wont be as painful as mine was. When I started my online business 6 decades back, it took me 9 months to earn my initial $25 commission. Im not asking you to operate 9 months for a $25 commission, but that I dont want you to think itll be quick.
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To answer the long term question: How much money you can earn in 6 months, I will need to discuss different business strategies because if you apply the strategies that this post Im planning to share here, you can go well beyond the $20,000 a month goal 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 normal network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 sales to attain your income objective.
