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Before we start, let me explain a few of the terminologies of this passive income world. 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 kind 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 form of income where you earn a monthly commission for the selling youve made.
For example, if an agency pays you $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 kind of money you earn by selling a product, or even 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 your purchase. It has its own pros and cons which Im not going to get into, but everything depends on how much money youll earn from every purchase. .
The greatest passive income flow is one which 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 the most dangerous number in the realm of business. Building a passive income stream that pays you from one source or a business that is getting the majority of its traffic and sales 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 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 listing of things Im going to teach you here:
Im going to get started using the easiest passive income strategy, then we'll dive deeper into building a business that pays you big commissions daily.
The passive income strategy Im going to share with you is utilized 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 purchase is made, they will earn a cut, 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 application isnt the hottest one. Normally, affiliates earn 50% commissions on websites like Clickbank (which we'll discuss soon) but even thats not the most rewarding affiliate program you can join.
High ticket affiliate applications like Aversity will cover around $3,000 per purchase to affiliates. These are specific programs that arent generally open for everyone. We'll explore different top ticket affiliate applications as we move down into this report.
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I could write an entire article to address this problem in the online business world. If you follow a few of the so-called YouTube gurus, all youll see is their luxury cars and horses which might 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 time but with the ideal approach, your journey wont be as painful as mine was. When I began my online business 6 years back, it took me 9 months to earn my first $25 commission. Im not asking you to work 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: How much money you can earn in 6 months, I'll 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 goal in no time.
In order to earn $20,000 per month in passive income, you'll need to earn $20,000 in commissions by an affiliate network. browse around here An average network such as Clickbank pays affiliates $10 to $100 a sale. Should you earn $25 on average per purchase, youll need 800 sales to attain your income goal.
