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Before we start, allow me to explain some of the terminologies of this passive income world. There are just two kinds of passive income: Lively and Residual. If youre planning to make some serious money, youre going to need both of these together.
Residual Passive Income: This kind of income is one of the keys to success in your online business and can be successful 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 selling youve made.
For instance, if a service pays $25 in residual commissions, referring 100 individuals will make you $2,500 a month without doing any work. 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 even a service. The main difference between residual and busy income is that active passive income is a one-time compensation and you dont keep earning commissions from the 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 purchase. .
The best passive income stream is one which gives you both residual and busy income and so were going to talk about a couple of ways to create that kind of incomes online.
The number 1 is your most dangerous number in the realm of business. Building a passive income stream that pays you from one supply or a business that is getting the majority of its visitors and sales from one stage can be extremely 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, Allow Me to give you a list of things Im going to teach you :
Im going to begin with the easiest passive income plan, then we will dive deeper into building a business which pays big commissions daily.
The passive income plan Im about to share with you is used by companies like Amazon and Apple and its own called affiliate marketing. In this approach, an affiliate (you) will promote a product using their own unique tracking link and when a sale is made, they will earn a reduction, 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 nowadays, Amazons affiliate program isnt the hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we'll talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate applications like Aversity will cover around $3,000 per sale to affiliates. All these are specific programs that arent usually open for everyone. We'll explore different high ticket affiliate applications as we move down into this article.
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I could write an entire post to deal with this problem in the online business world. If you follow a few of the 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 a week.
Building an online business takes some time but with the ideal approach, your journey wont be as painful as mine was. When I started my online business 6 years ago, it took me 9 months to earn my initial $25 commission. Im not asking you to link operate 9 months for 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 go over different business strategies since in the event that you use the approaches that Im planning to share here, you can go well beyond the $20,000 a 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. If you earn $25 on average per purchase, youll need 800 sales to achieve your income goal.