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Before we start, allow me to explain some of the terminologies of the passive income globe. There are 2 types 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 type of income is one of the keys to success in your online business and can be successful if you manage to build a supply of residual income. Residual income is the type 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 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 busy 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 sale. .
The best passive income stream is one that provides you both residual and active income and so were going to talk about a couple of approaches to make 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'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 kill 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 listing of things Im going to teach you here:
Im going to begin with the simplest passive income strategy, then we'll dive deeper into building a business which pays big commissions every day.
The passive income plan Im about to discuss with you is used by companies like Amazon and Apple and its affiliate marketing. In this strategy, an affiliate (you) will market a product using their own unique tracking link and when a sale is made, they will earn a reduction, typically %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 sale to affiliates. These are special programs that arent usually open for everyone. We'll explore different top ticket affiliate programs as we move down into this article.
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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 gurus, all youll see is their luxury cars and horses which may give you the impression that you can begin a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business takes time but with the right 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 initial $25 commission. Im not asking you to work 9 months for a $25 commission, but I dont want you a knockout post to think itll be fast.
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To answer the long terms question: Just how official statement much money you can earn in 6 months, I will need to go over 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 target in no time.
In order to make $20,000 per 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 objective.
