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Before we begin, allow me to explain some of the terminologies of this passive income globe. 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 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 build a source of residual income. Residual income is the type of income where you earn a monthly commission for the sale youve made.
For example, if a service pays $25 in residual commissions, referring 100 people will make you $2,500 a 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 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 it all depends on how much money youll earn from each purchase. .
The greatest passive income flow is one that gives you both residual and busy income and were going to speak about a few approaches 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 is getting most of its traffic and earnings 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 kill your entire business overnight.
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Before we dip down into the world of passive income opportunities, Allow Me to give you a listing of things Im going to teach you :
Im going to get started with the easiest passive income strategy, then we will dive deeper into building a business that pays you big commissions daily.
The passive income plan Im going to discuss with you is used by companies like Amazon and Apple and its called affiliate marketing. In this strategy, an affiliate (you) will market a product using their own unique tracking link and when a purchase is made, my review here they will earn a reduction, typically %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 application isnt the hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we will talk about soon) but even thats not the most lucrative affiliate program you can join.
High ticket affiliate programs for example Aversity will pay up to $3,000 per sale to affiliates. All these are special programs that arent generally open for everyone. We'll explore different high ticket affiliate programs as we proceed down into this article.
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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 the so-called YouTube professionals, 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 discover here takes some time but with the right 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 operate 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 terms question: Just how much money you can earn in 6 months, I'll need to discuss different business strategies since if you use the strategies that Im planning to discuss 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 from an affiliate network. An normal network such as Clickbank pays $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 earnings to achieve your income goal.
