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Before we start, allow me to explain a few 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 type 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.
For example, if an agency pays you $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any job. About 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 residual and active income is that active passive income is a one-time compensation and you dont keep earning commissions from your 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 each purchase. .
The best passive income stream is one that provides you both residual and busy income and were going to talk about a few ways to create that kind of incomes online.
The number 1 is your very dangerous number in the realm of business. Building a passive income stream that pays you in one source or a business that's getting the majority of its visitors 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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So before we dip down into the world of passive income opportunities, Allow Me to give you a list of things Im going to teach you :
Im going to begin using the simplest passive income strategy, 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 utilized by companies like Amazon and Apple and its own 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 reduction, usually percent 5 to 50% depending on the solution 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 hottest one. Usually, affiliates earn 50% commissions on websites like Clickbank (which we'll talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate programs for example Aversity will cover up to $3,000 per purchase to affiliates. All these are special programs that arent generally open to everyone. We will explore different high ticket affiliate programs as we proceed down into this report.
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I could write an entire post to deal with this issue in the online business world. If you stick to a few of those so-called YouTube professionals, 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 a week.
Building an online business why not try these out takes some time but with the right approach, your journey wont be as painful as mine was. When I began my online business 6 decades ago, 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 term question: 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 about to discuss here, you can go well beyond the $20,000 per month goal in no time.
In order to earn $20,000 a month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. An average network such as Clickbank Read More Here pays affiliates $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 earnings to attain your income objective.
