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Before we start, allow me to explain some of the terminologies of this passive income world. There are just two types of passive income: Lively and Residual. If youre planning to make some serious money, youre going to need both of them together.
Residual Passive Income: This type of income is one of the secrets to success in your online business and can be powerful if you manage to construct a source of residual income. Residual income is the form of income where you earn a monthly commission for the selling youve made.
For instance, if an agency pays you $25 in residual commissions, referring 100 individuals 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 type of money you earn by selling a product, or a service. The main difference between staying and active income is that active passive income is a one-time compensation and you dont keep earning commissions from the sale. This 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 stream 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 the very dangerous number in the world of business. Building a passive income stream that pays you from one source or a business that's getting the majority of its visitors and sales 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 advertising platform can destroy your entire business overnight.
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So before we dip down into the world of passive why not find out more income opportunities, let me give you a listing of things Im going to teach you here:
Im going to begin with the easiest passive income plan, then we'll dive deeper into building a business which 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 affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own unique tracking link and when a sale is made, they will earn a cut, typically percent 5 to 50 percent 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 program isnt the most popular one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we'll discuss soon) but even thats not the very rewarding affiliate program you can join.
High ticket affiliate applications for example Aversity will cover around $3,000 per purchase to affiliates. These are specific applications that arent generally open for everyone. We'll explore different top ticket affiliate programs as we proceed down into this report.
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I could write an entire post to address this problem in the online business world. If you stick to some of the so-called YouTube professionals, all youll see is that their luxury cars and horses which might provide you the impression which you can start a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes 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 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'll need to discuss different business strategies because in the event that you use the strategies that Im planning to share here, you can go well beyond the $20,000 per 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 from an affiliate network. An average network such as Clickbank pays $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to achieve your income objective.
