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Before we start, allow me to explain a few of the terminologies of the passive income globe. There are 2 types of passive income: Lively and Residual. If youre planning to earn 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 supply of residual income. Residual income is the type of income in which you earn a monthly commission for the selling youve made.
For example, if a service pays $25 in residual commissions, referring 100 individuals will make you $2,500 per month without doing any work. Approximately 30% of Aversity Gold Masterclass members earn residual incomes from goods 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 staying and busy income is that busy passive income is a one-time compensation and also you dont keep earning commissions from your purchase. 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 greatest passive income stream is one that gives you both residual and busy income and so were going to talk about a couple of approaches to create that kind of incomes online.
The number 1 is your very dangerous number in the world of business. Building a passive income stream that pays you from one supply or a business that is getting the majority of its traffic and sales 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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Before we dip down into the world of passive income opportunities, let me give you a list of things Im going to teach you here:
Im going to get started with the easiest passive income strategy, then we will dive deeper into building a business which pays you big commissions daily.
The passive income plan Im about to share 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 special tracking link and when a purchase is made, they will earn a reduction, usually 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 application isnt the most popular one. Normally, affiliates earn 50% commissions on sites like Clickbank (which we will talk about soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications like Aversity will cover up to $3,000 per sale to affiliates. All these are specific applications that arent generally open to everyone. We will explore different top ticket affiliate applications as we proceed down into this report.
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I could write an entire post to deal with this problem in the online business world. If you stick to some of those so-called YouTube gurus, all youll see is that their luxury moved here 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 some time but with the right approach, 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 operate 9 months for a $25 commission, but I dont want you to think itll be quick.
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To answer the long terms question: Just how much money you can earn in 6 months, I will need to discuss different business strategies because if you apply the approaches that Im about to discuss here, you can go well beyond the $20,000 per month target in no time.
In order to earn $20,000 a month in passive income, you will need to earn $20,000 in commissions from an affiliate network. An average network such as Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per purchase, youll need 800 sales to attain your income goal.