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Before we begin, allow me to explain some of the terminologies of the passive income world. There are just two 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 keys 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.
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 work. About 30% 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 your purchase. 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 sale. .
The greatest passive income stream is one that provides you both residual and busy income and so were going to speak about a couple of approaches 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 supply or a business that's getting most of its traffic 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 ad platform can destroy your entire business overnight.
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So before we dive 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 site building a business that pays you big commissions daily.
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 reduction, usually 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 sites like Clickbank (which we'll discuss soon) but even thats not the very rewarding affiliate Source program you can join.
High ticket affiliate programs for example Aversity will pay around $3,000 per sale to affiliates. All these are special 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 address this problem official statement in the online business world. If you follow a few of those so-called YouTube gurus, all youll see is that their luxury cars and horses which may provide you the impression which you can start a simple affiliate marketing business and rake in $20,000 in weekly.
Building an online business 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 back, it took me 9 months to earn my initial $25 commission. Im not asking you to work 9 months to get 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 will need to go over different business strategies since if you apply the strategies that Im planning to discuss 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 normal network like Clickbank pays $10 to $100 a sale. Should you earn $25 on average per sale, youll need 800 earnings to attain your income objective.