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Before we start, let me explain a few of the terminologies of this passive income globe. There are 2 kinds 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 build a source of residual income. Residual income is the type of income in which you earn a monthly commission for the selling youve made.
By way of example, if a service pays you $25 in residual commissions, referring 100 people will make you $2,500 a month without doing any job. About 30% 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 staying and active income is that active passive income is a one-time compensation and also 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 every sale. .
The greatest passive income stream is one that provides you both residual and busy income and so were going to talk about a few ways 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 in one supply or a business that's getting the majority 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 dip down into the world of passive income opportunities, let me give you a list of things Im going to teach you :
Im going to get started with the simplest passive income strategy, then we'll dive deeper into building a business that 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 affiliate marketing. In this strategy, an affiliate (you) will market a product using their own unique tracking link and when a purchase is made, they learn the facts here now will earn a reduction, typically 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 program isnt the hottest one. Normally, affiliates earn 50% commissions on sites like Clickbank (which we will discuss soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications for example Aversity will cover up to $3,000 per purchase to affiliates. These are special programs that arent usually open to everyone. We will explore different high ticket affiliate applications as we proceed down into this report.
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I could write an entire article to deal with this issue in the online business world. If you follow some of those so-called YouTube gurus, all youll see is 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 takes some time but with the ideal strategy, 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 first $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: Just how much money you can earn in 6 months, I will need to discuss different business strategies since if you apply 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 make $20,000 a month in passive income, you will need to earn $20,000 in commissions by an affiliate network. An average network like Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 earnings to attain your income goal.
