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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: 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 secrets to success in your online business and can be powerful if you manage to construct a source of residual income. Residual income is the form of income where 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 individuals will make you $2,500 a month without doing any job. Approximately 30% 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 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 the sale. 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 every sale. .
The greatest passive income flow is one which provides you both residual and busy income and so were going to speak about a few ways to make 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 visitors 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 ad platform can kill your entire business overnight.
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So before we dive down into the world of passive income opportunities, Allow Me to give you a list of things Im going to teach you here:
Im going to begin with the simplest passive income plan, then we'll dive deeper into building a business which pays big commissions every day.
The passive income strategy Im about to share with you is utilized by companies like Amazon and Apple and its affiliate marketing. In this strategy, an affiliate (you) will promote a product using their own special tracking link and when a sale is made, they will earn a cut, typically percent 5 to 50% depending on the solution 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. Usually, affiliates earn 50% commissions on sites like Clickbank (which we will talk about soon) but even thats not the very lucrative affiliate program you can join.
High ticket affiliate applications like Aversity will pay around $3,000 per sale to affiliates. These are specific programs that arent generally open for everyone. We'll explore different high ticket affiliate programs as we proceed down into this report.
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I could write an entire article to address this issue in the online business world. If you stick to a few of those so-called YouTube gurus, all youll see is their luxury cars and horses which pop over to this site might give you the impression which you can begin a simple affiliate marketing business and rake in $20,000 in a week.
Building an online business takes some 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 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 look at here strategies because in the event that you use the strategies that Im about to share here, you can go well beyond the $20,000 per month goal 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 such as Clickbank pays affiliates $10 to $100 a sale. If you earn $25 on average per sale, youll need 800 earnings to achieve your income objective.
